Billionaire industrialist Gautam Adani spoke back to the recent allegations US prosecutors have made against him. Delivering a speech at the 51st Gem and Jewellery Awards in Jaipur on Saturday, Adani said that he is resilient as the chairman of the Adani Group. Talking about the legal battles with the US Department of Justice, Adani said, “Every attack makes me stronger. Every obstacle becomes a stepping stone.”
Adani’s Reaction To US Charges
Adani made the remarks after the US prosecutors leveled charges of non-compliance and possible bribery related to Adani Green Energy, one of his massive business groups. The charges, which have been said to be connected with alleged attempts to influence Indian government officials for securing contracts for solar energy projects, have created a storm of controversy.
Adani told his audience that the company had faced such challenges before and remained steadfast. “This is not the first time we have faced such challenges,” he added. “Despite a lot of the vested reporting, no one from the Adani side has been charged with any violation of the Foreign Corrupt Practices Act (FCPA) or any conspiracy to obstruct justice.” He further underlined that regulatory compliance was crucial as, despite whatever happens, “world-class practices” from the Adani Group would continue.
The US Department of Justice and the Securities and Exchange Commission (SEC) have alleged that Gautam Adani and his executives orchestrated a scheme to pay bribes more than $250 million for government contracts on solar energy projects. Furthermore, it has been alleged that Adani Group made false statements in the United States by lying to investors about its anti-bribery policies.
In response, Adani Group issued a formal statement wherein it vehemently denied the charges. The company termed the allegations “baseless” and stressed that no Adani executives had been involved in any illegal activities related to the accusations.
Political and Public Fallout in India
The allegations have gained significant political controversy in India, with opposition parties, most noticeably the Congress, asking the government to officially inquire about the matter. Congress’ senior leader Rahul Gandhi demands severe punishment for Adani and publicly said that, “Adani should be jailed; do you think he’d accept charges?
However, the Indian government has clarified that the bribery charges against Adani are purely a matter of private litigation between the US Department of Justice and private firms. Foreign Ministry spokesperson Randhir Jaiswal elaborated on the Indian government’s stance on Friday. He said, “We see this as a legal matter involving private firms and individuals and the US Department of Justice. Obviously, there are established procedures and legal avenues in such cases, which we believe would be followed.”
Jaiswal made it clear that the Indian government had not been fore-warned of the charges and had not entered into any discussions with the US government.
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