11/24/2024

Adani CFO Says U.S. Charges Linked to Only One Business Contract

Adani Green accused of misleading U.S. investors on compliance

A U.S. bribery indictment of Indian billionaire Gautam Adani is linked to one contract of Adani Green Energy that makes up some 10 percent of its business, and no other firms in the conglomerate are accused of wrongdoing, the group's CFO said on Saturday.

On Wednesday, Gautam Adani, one of the world's richest men, and seven others were indicted for fraud by U.S. prosecutors over their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.

Adani has denied all allegations calling them "baseless."

Please select this link to read the complete article from Reuters.