Billionaire industrialist Gautam Adani has firmly responded to recent allegations made by US prosecutors, stating, "Every attack makes us stronger." Speaking at the 51st Gem and Jewellery Awards in Jaipur, Adani addressed the accusations of bribery and fraud related to his company's compliance practices. Despite the serious nature of the charges, Adani emphasized that no Adani executive has been charged with violating the Foreign Corrupt Practices Act (FCPA) or any conspiracy to obstruct justice1. He reassured stakeholders of the company's unwavering commitment to regulatory compliance and world-class practices.
Adani's statement comes in the wake of allegations that his company orchestrated a $250 million bribery scheme to secure government contracts for solar energy projects. The US Department of Justice and the Securities and Exchange Commission (SEC) have accused Adani and his executives of making false statements about the company's anti-bribery policies. Adani dismissed these allegations as baseless and reiterated that the Adani Group has faced and overcome similar challenges in the past. He highlighted the company's resilience and ability to navigate through adversity, framing it as a stepping stone to greater strength and stability.
The Indian government has clarified that the bribery charges are purely a matter of private litigation between the US Department of Justice and private firms. Foreign Ministry spokesperson Randhir Jaiswal emphasized that established legal procedures would be followed in this case1. Adani's response has been met with mixed reactions, with some praising his resilience and others calling for further scrutiny of the allegations. As the legal process unfolds, the Adani Group remains steadfast in its commitment to transparency and compliance.