The Adani Group clarifies that its chairman Gautam Adani and his nephew Sagar Adani have not been charged under the US Foreign Corrupt Practices Act (FCPA), despite bribery allegations

The Adani Group has issued a statement clarifying that its chairman Gautam Adani and his nephew, Sagar Adani, are not facing charges under the United States Foreign Corrupt Practices Act (FCPA) in connection with a bribery case filed by US authorities.

On Wednesday, the Adani Group responded to recent media reports which suggested that both Gautam and Sagar Adani had been charged with violations of the FCPA. The company stated unequivocally that these reports were incorrect and that neither Gautam nor Sagar have been implicated in any FCPA violations.

The controversy stems from an indictment filed by the US Department of Justice, which names Gautam Adani, Sagar Adani, and key executive Vneet Jaain. The trio is accused of being part of a scheme to bribe Indian officials with USD 265 million in order to secure contracts for solar electricity supply. These contracts are believed to have the potential to generate significant profits, possibly reaching up to USD 2 billion over the next two decades.

In a stock exchange filing, Adani Green Energy Limited, a subsidiary of the Adani Group, made it clear that the claims regarding FCPA violations were false. The company reassured investors and the public that the charges did not apply to Gautam and Sagar Adani, emphasising that the allegations related to the broader business operations of the group.

Despite the serious nature of the allegations, the clarification from the Adani Group suggests that the two individuals at the heart of the controversy have not yet been formally charged under US law. However, the case continues to attract global attention, particularly due to the significant sums involved and the high-profile nature of the Adani Group, one of India’s largest and most influential conglomerates.

The charges are part of a wider investigation into alleged corrupt practices involving large-scale infrastructure and energy deals in India. The Adani Group has repeatedly denied any wrongdoing, and the latest clarification is aimed at dispelling the growing confusion around the case.

The bribery accusations, if proven true, could have far-reaching implications for the Adani Group’s operations, particularly in the renewable energy sector, where it has made significant investments. The company is currently involved in a number of solar and wind energy projects across India and other parts of the world.

As the legal proceedings unfold, the Adani Group’s defence will likely continue to focus on disputing the charges against its senior executives, including Gautam and Sagar Adani, who have yet to face formal prosecution under the FCPA. The outcome of this case could have lasting effects on the group’s reputation and its dealings with international partners.