Every Attack Makes Us Stronger: Gautam Adani Responds To US Charges

Industrialist Gautam Adani on Saturday responded to allegations made by the US Department of Justice saying that every obstacle becomes a stepping stone for a more resilient Adani Group.

"As most of you would have read, less than two weeks back, we faced a set 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 stepping stone for a more resilient Adani Group," NDTV quoted Adani as saying at the 51st Gem and Jewellery Awards in Jaipur.

The Adani Group clarified on Wednesday that its chairman, Gautam Adani, and his nephew, Sagar Adani, have not been charged under the U.S. Foreign Corrupt Practices Act (FCPA) in an indictment filed by U.S. authorities in a bribery case.

The U.S. Department of Justice has lodged a criminal indictment with the United States District Court for the Eastern District of New York, naming Gautam Adani, Sagar Adani, and Vneet Jaain as defendants. The civil complaint alleges violations of specific provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934 and claims the executives aided Adani Green Energy Limited in breaching these regulations.

Adani Group's Chief Financial Officer has strongly rejected accusations that its executives, including Gautam Adani, were involved in a $265 million bribery scheme. The Indian government has also stated that it has not received any official communication from U.S. authorities regarding the case.

The indictment has intensified political tensions in India. Opposition parties accuse Prime Minister Narendra Modi and the ruling Bharatiya Janata Party (BJP) of shielding Adani from domestic investigations, allegations both the government and Adani have denied.