Adani Group denies bribery charges as baseless, says will seek all possible legal recourse

We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws, said a statement by the Adani Group.

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26 Aug, 2025 12:21

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The Adani Group has denied bribery charges by US Justice Department and US SEC against the chairman and group officials, calling all allegations 'baseless'.

The group issued a statement attributed to a spokesperson on November 21, stating that it will seek all possible legal recourse, and the company is 'fully compliant' with all the laws.

"As stated by the US Department of Justice itself, 'the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.' All possible legal recourse will be sought," The statement said, quoting DoJ's press release.

Shares of Adani Enterprises and Adani Green are marginally off early lows, yet reeling under double-digit losses in trade on November 21. Shares of Adani Ports too have recovered from early lows.

Read More: Key highlights of the 54-page US indictment in Adani bribery case

The statement sought to allay concerns and assure stakeholders that the group is a law-abiding organisation. "We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," it said.

"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations," said the statement by an Adani Group spokesperson.

US prosecutors have charged Gautam Adani with criminal indictment over involvement in a plan that promised to pay over $250 million, or Rs 2,100 crore in bribes, to Indian government officials for solar energy contracts, sending the group's shares sharply lower in early trade on November 21.

Hours after the US DoJ press statement informing about the indictment, Adani Green informed stock exchanges that it will not be proceeding with its proposed Dollar bond offerings.

Gautam Adani and other defendants have been charged by US federal prosecutors on five counts, including a promise to pay bribes to Indian government officials for solar energy contracts, and concealing information regarding this, as they sought funds from US investors.

Gautam Adani’s nephew Sagar Adani, and Vneet Jaain, have also been named in the indictment.