Gautam Adani responds to US indictment, blames press for ‘incorrect, reckless reporting’
The billionaire industrialist claimed that the Adani Group was committed to ‘world class regulatory compliance’.
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Billionaire industrialist Gautam Adani on Saturday directly addressed the allegations of fraud brought against him and other executives of Adani Green Energy by the United States Department of Justice and the Securities and Exchange Commission, blaming the press for what he described as “incorrect and reckless reporting” on the matter, reported India Today.
“As most of you would have read, less than two weeks back, we faced a set of allegations from the US about compliance practices at Adani Green Energy,” Adani said at an event in Jaipur. “This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger, and every obstacle becomes a stepping stone for a more resilient Adani Group.”
The statement came a day after the Indian government said it viewed the developments relating to the indictment of Adani and others linked to the Adani Group in the United States as a legal matter involving private companies, individuals and the US Department of Justice.
The indictment accuses Adani, his nephew Sagar Adani and senior executive Vneet Jaain of conspiracy to commit securities fraud, wire fraud and breaches of the United States’ securities regulations. It alleges that Adani Green Energy executives misled investors about the company's compliance with...
