No Bribery Charges Against Gautam Adani, Nephew: Adani Group On US Allegations

Adani Group chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jain are clear of any bribery charge in the US indictment, the Adani Group has clarified. Adani Green, a firm under the Adani Group, has also called media reports on this as “incorrect”, in a latest stock exchange filing.”Mr Gautam Adani, Mr Sagar Adani and Mr Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC,” the Adani Group said in a statement.FCPA refers to the US Foreign Corruption Practices Act.

The indictment by the Department of Justice includes five counts, but the first and fifth counts – conspiracy to violate the FCPA and conspiracy to obstruct justice – does not mention the three directors, Gautam Adani, Sagar Adani, and Vneet Jaain, it said.