Adani Group’s finance chief Jugeshinder Singh rejected US allegations that group executives, including chairman Gautam Adani, were part of a $265 million bribery scheme. He said the accused would clarify the US allegations in the 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 on Friday, reported Reuters.
"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, his nephew Sagar Adani and six others of being part of a scheme to pay bribes of $265 million to secure Indian solar power contracts and misleading US investors during fund raises there.
Previously, Adani Group has 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 added.
The CFO assured that there is nothing that would impact their investment plans in logistics and energy. Adani Group will continue to invest in logistics for the next 20 years. The US indictment had significantly affected the Adani Group stocks last week.
India's foreign ministry, in the country's first official reaction to Adani's indictment, said on Friday that the Indian government was not informed in advance by US prosecutors while charging Adani and others of bribery and fraud.
In a statement on November 29, the MEA spokesperson Randhir Jaiswal said it is a legal matter involving private firms and individuals and the US Department of Justice. “There are established procedures and legal avenues in such cases which we believe would be followed. The government of India was not informed in advance on the issue,” he added.
