No one from Adani Group charged under US FCPA, says Gautam Adani at AGM

Gautam Adani dismissed allegations of US bribery and obstruction, reaffirming the group's compliance and governance standards while highlighting record-breaking growth

Billionaire Gautam Adani on Tuesday said that no one from the Adani Group has been charged with violating US Foreign Corrupt Practices Act (FCPA) or conspiring to obstruct justice. He made the remark during the annual general meeting of the group.

 

“We proved that the true leadership is not built in sunshine but is constructed in the fire of crisis. This was tested again last year when we faced allegations from the US Department of Justice relating to Adani Green Energy," Adani said. 

 

"Despite all the noise, the fact is that no one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice. We live in a world where negativity often echoes louder than the truth. And as we cooperate with legal processes, let me also restate that our governance is of global standards, and our compliance frameworks are non-negotiable," he added.

 

Gautam Adani, along with several senior executives, faces charges in the US for allegedly orchestrating a $265 million bribery scheme to secure solar energy contracts in India. The US Department of Justice and the Securities and Exchange Commission allege that between 2020 and 2024, Adani and his associates paid bribes to Indian officials to obtain favourable energy deals, while concealing these actions from US investors during fundraising efforts. The charges include violations of the FCPA, securities fraud, and wire fraud. The Adani Group has denied the allegations, calling them baseless. 

 

During the AGM, Adani highlighted the group's numbers, saying that even in a year of turbulence, the conglomorate saw "record-breaking revenue, unprecedented growth and historic profitability".

 

Adani Group reported a 7 per cent rise in consolidated revenues to ₹2,71,664 crore and an 8.2 per cent increase in adjusted Ebitda to ₹89,806 crore, with a healthy net debt-to-Ebitda ratio of 2.6x, said Adani.

 

Bribery case: Adani team in talks with Trump admin 

 

Last month, a Bloomberg report claimed that representatives of Gautam Adani held meetings with officials from the Donald Trump-led US administration to discuss the possibility of dropping criminal charges filed against him in connection with the bribery case.

 

The meetings reportedly began earlier this year and have intensified in recent weeks. According to the report, Adani’s representatives argued that the case does not align with Trump’s current policy priorities and have requested that it be reconsidered.