India's Adani Green says independent review on US indictment found no irregularities

Reuters

Mon, Apr 28, 2025, 9:55 AM 1 min read

(Reuters) -India's Adani Green connected Monday said that its autarkic reappraisal of the U.S. indictment of laminitis Gautam Adani and apical Adani Green executives, who were accused of paying $265 cardinal successful bribes for powerfulness contracts, did not place immoderate non-compliance oregon irregularities.

In November, U.S. authorities indicted Gautam Adani, his nephew and Executive Director Sagar Adani and Managing Director Vneet S. Jaain, alleging that they paid bribes to unafraid Indian powerfulness proviso contracts and misled U.S. investors during money raises.

The Adani Group has denied the charges, calling them "baseless."

The institution appointed autarkic instrumentality firms successful January to reappraisal the U.S. indictment.

Based connected this review, the absorption of the holding institution concluded that it, on with its subsidiaries, complied with applicable laws and regulations, Adani Green said successful an speech filing.

The institution added it does not expect the U.S. proceedings to person worldly consequences for the group.

The U.S. Securities and Exchange Commission asked Indian authorities for assistance successful February with its investigation.

Meanwhile, the institution reappointed Vneet Jaain arsenic its managing manager for different 5 years, effectual July 10, contempt the U.S. indictment.

Throughout his 15-year tenure, Jaain has been "spearheaded connected group’s strategy for its vigor and infrastructure concern and has been instrumental successful increasing assorted businesses from conceptualisation to operation," Adani Green said successful a statement.

(Reporting by Sethuraman NR successful Bengaluru; Editing by Tasim Zahid)