Adani says nobody from group charged with US FCPA violation

“Regardless of all of the noise, the info are that nobody from the Adani Group has been charged with violating the FCPA or conspiring to hinder justice,” Adani stated on the firm’s annual common assembly.

“Even within the face of the storms and relentless scrutiny, the Adani Group has by no means backed down,” he stated.

In November, US authorities indicted Adani and a number of other executives, alleging they paid bribes to safe Indian energy contracts and misled US buyers. The Adani Group has rejected the allegations as “baseless” and stated it was cooperating with authorized processes.

Adani Group and its 13 offshore buyers have been dealing with an investigation by the Securities and Change Board of India (SEBI) since Hindenburg Analysis in 2023 alleged the group’s improper use of tax havens. The group has constantly denied any wrongdoing.

The corporate, which is setting up the world’s largest renewable vitality park in Khavda, western India, goals to put in 50 gigawatts (GW) of renewable capability by 2030.

With mixed thermal, renewable and pumped hydro belongings, Adani Group expects to achieve a complete energy technology capability of 100 gigawatts by 2030, Adani stated.

Adani additionally introduced a file capital expenditure plan, saying the group expects to take a position between $15 billion and $20 billion yearly over the following 5 years.