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Video | States Reject US Charges On Adani, Global Voices Call Out US Over-Reach

After Tamil Nadu government and BJD in Odisha, for Andhra CM Jagan Reddy has spoken against US charges on the Adani group. The YSRCP chief said that the US charges are baseless and that the power deal was between government entities and there is no question of any deal with anyone. His statement came days after the Tamil Nadu govt and the BJD that earlier ruled Odisha denied US charges. Meanwhile, there are also global voices calling out the "US over-reach" in the case. Norwegian diplomat Erik Solheim has rubbished the US charges on the Adani group saying that there is no evidence of any actual bribe.  (Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)Source link
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Video | Baseless Bribe Brouhaha: Top Legal Minds Call Out Congress On Adani

Punching holes in the allegations against Adani Group, senior lawyer and former Attorney General of India Mukul Rohatgi today said the group's founder chairman Gautam Adani and his nephew Sagar Adani have not been accused of bribery or obstructing justice in the US. The senior lawyer addressed the media to counter misleading news reports on the US Department of Justice indictment. On a day when Adani stocks experienced a significant recovery, climbing back to levels before the recent US court ruling. After breaking the upper circuit, several Adani companies saw their stock values increase by up to 20%. Top legal minds call out Congress over US Adani case.(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.) ...
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Adani Green Energy Refutes Bribery Charges Against Gautam Adani And Executives

In the latest response to the allegations against the Adani Group, Adani Green Energy Ltd (AGEL) issued a clarification on Wednesday, stating that there is no charges of bribery against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain by the US Department of Justice (DoJ). However, the company acknowledged that the executives are facing three other charges, including securities fraud and wire fraud, as outlined in the indictment. In a regulatory filing, AGEL noted that while the allegations involve securities and wire fraud, there are no charges related to bribery or foreign corruption. “Media articles stating that our directors Gautam Adani, Sagar Adani, and Vneet Jaain have been charged with violations of the US Foreign Corrupt Practices Act (FCPA) are incorrect,” AGEL said. A...
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Adani Group CFO Jugeshinder Singh Responds To Bribery Allegations — Here Is What He Said

The Adani Group’s Chief Financial Officer (CFO), Jugeshinder Singh, said on Saturday the recent US government report concerns only a single contract under Adani Green Energy, which accounts for roughly 10 per cent of the subsidiary's total business. The conglomerate emphasised that none of its 11 publicly listed companies are implicated or accused of any wrongdoing. In a statement posted on X (formerly Twitter), Singh said: “You would have seen a lot of news in the last 2 days re @AdaniOnline matters. This specifically relates to one contract of #adanigreen which is roughly 10 per cent of overall business of Adani Green(there is a lot more precise & comprehensive detail of this which we will elaborate in an appropriate forum).” He added: “We became aware of the "specificity" of this 2 ...
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Adani US indictment: Power deals took 18 months and ‘incentives’ to state officials, says SEC – Times of India

NEW DELHI: The Securities & Exchange Commission (SEC) complaint in a New York court has said that Solar Energy Corporation of India had hoped to sign the power purchase agreement within 90 days of issuing letters of award to Adani Green and Azure Power in June 2020, but the high tariffs quoted by the companies resulted in the deals taking over 18 months to execute. And, even this was possible after Adani allegedly "substantially increased" the "incentives" to state govt officials.The complaint suggested that officials in Odisha may have been the first to receive bribes, with the state signing a PSA in July 2021 after "a payment equal to hundreds of thousands of dollars was paid or promised to govt officials".By Dec 1 2021, SECI had entered into PSAs with discoms in at least four states...
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