Big Twist In Adani Case, Adani Green Says No Bribery Charges Against Gautam Adani

Shares of Adani Green Energy and other Adani group stocks such as Adani Power , Adani Energy Solutions and Adani Enterprises rallied after being hammered for the past few days after the group clarified that there are no bribery charges against Gautam Adani and other top group executives. Adani Green Energy informed stock exchanges that Gautam Adani, Sagar Adani and former company CEO Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the United States Department of Justice (DOJ) or civil complaint of the US Securities and Exchange Commission (SEC). The claims were backed by senior lawyer and former Attorney General Mukul Rohatgi who concurred that the Adanis have not been named in key bribery or obstruction of justice charges. “Neither Gautam Adani nor Sagar Adani is mentioned under Count 1 or Count 5, the most critical charges,” Rohatgi said in his 'personal capacity', adding that claims suggesting otherwise are “simply incorrect.”