Adani CFO refutes US allegations: ‘Individuals accused in bribery case to clarify matter in 10 days’ | Company Business News

Adani Group’s finance chief on Friday rejected US allegations that group executives, including Chairman Gautam Adani, were part of a $265 million bribery scheme, and said the accused would clarify the US allegations in 10 days.

“We reject all of this strongly on behalf of the individuals,” Adani Group CFO Jugeshinder Singh told reporters at an event in Mumbai.

“We believe it is not warranted, we know for sure 100 per cent that nothing of this sort happened. If we were paying that amount of cash to someone I would certainly know, so we know nothing happened,” Singh said.

US authorities accused Adani, 62, his nephew and executive director Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian solar power supply contracts, and misleading US investors during fund raises there.

The ports-to-power conglomerate has previously denied the charges as “baseless” and vowed to seek “all possible legal recourse”.

“As a group there will not be any action (on the US indictment) but individuals will be taking steps,” Singh said on Friday.