Adani Group said it has suffered a nearly $55 billion loss in market capitalization. (File)
Adani Group chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain are clear of any bribery charges per the US Department of Justice, the Adani Group stated today. 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 (EXPAND),” 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 – do not mention the three directors, Gautam Adani, Sagar Adani, and Vneet Jaain, it said
