The US government attorney is conducting an investigation against the Adani Group.
This investigation is being conducted to determine whether the Adani Group was involved in bribery. Apart from this, the conduct of the billionaire founder of Adani Group has also come under the ambit of investigation. It is being told that this whole matter is related to an energy project.
Quoting sources, US officials are investigating whether any unit of the Adani Group or people associated with the company, including Gautam Adani himself, had fed money to officials in India to acquire this energy project.
Renewable energy company Azure Power Global is also involved in the investigation, people familiar with the matter said. The investigation is being conducted by New York prosecutors and the Justice Department’s fraud unit in Washington.
According to the report, Adani Group said in an emailed statement, “We are not aware of any investigation against our Chairman. As a business group we adhere to the highest standards of governance. “We are subject to and fully comply with anti-corruption and anti-bribery laws in India and other countries.”
Justice Department officials in Brooklyn and Washington declined to comment. According to the report, Azure also did not respond to requests for comment.
Let us tell you that no allegation of wrongdoing has been made against Gautam Adani, his company and Azure by the US Justice Department. This is just an investigation.
Let us tell you that American law allows government lawyers to investigate allegations of corruption committed abroad that are related to any American investors or markets.
Adani’s vast empire was dealt a blow early last year by claims by short-seller Hindenburg Research. It had claimed that Adani Group manipulated its stock price. However the group vehemently denied those allegations. Now shares of Adani Group have largely recovered from their initial fall.