Gautam Adani on the US accusation: “Every attack makes us stronger”

Billionaire industrialist Gautam Adani on Saturday responded to accusations against him by United States prosecutorssaying “every attack makes him stronger.”

Speaking at the 51st Gem and Jewelry Awards in Jaipur, the Adani Group chairman said: “As most of you would have read less than two weeks ago, we are facing a series of allegations from the US. . about compliance practices at Adani Green Energy. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger and every obstacle becomes a springboard.”

“Despite many confidential reports, no one on Adani’s side has been charged with violating the FCPA or conspiracy to obstruct justice. In today’s world, negativity spreads faster than facts. As we work through the legal process, I want to reconfirm our absolute commitment to world-class regulatory compliance,” Adani was quoted as saying by ANI.

Gautam Adani has been accused of participation in a scheme to allegedly pay more than $250 million in bribes to Indian government officials for solar energy project contracts.

Adani and his executives have also been accused of making false and misleading statements to investors and lenders in the United States about the company’s anti-bribery commitments and practices while raising money from them, Reuters said.

In a statement, the business conglomerate called the accusations “unfounded.”

“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green are baseless and denied,” the group said in a statement.

“We consider this to be a legal matter involving private companies and individuals and the US Department of Justice. Obviously, there are established legal procedures and avenues in such cases, which we believe would be followed. The Indian government was not informed “We have not had any discussions regarding this with the US government,” Ministry of External Affairs spokesperson Randhir Jaiswal said on Friday.