US indictment linked to one Adani Green contract: Company CFO

The Adani group found itself in fresh trouble after a court in New York, on November 21, Thursday, indicted Gautam Adani and other senior executives on charges brought by US prosecutors, alleging that the billionaire was part of an elaborate scheme to pay bribes worth $265 million (Rs 2,029 crore) to Indian officials in various states to bag favourable terms for solar power contracts.

A US bribery indictment of Indian billionaire Gautam Adani is linked to one contract of Adani Green Energy comprising some 10 per cent of its business, and none of the conglomerate's other companies are accused of wrongdoing, the group's CFO said on Saturday.

On Wednesday, Gautam Adani, one of the world's richest men, and seven others were indicted for fraud by US prosecutors over their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.

Adani Group has denied the allegations calling them "baseless".

Group CFO Jugeshinder Singh sought to defend the allegations on Saturday saying none of Adani's 11 public companies "are subject to indictment" or "are accused of any wrongdoing in the said legal filing".

The allegations in the US indictment relates to "one contract of Adani Green which is roughly 10 per cent of overall business of Adani Green", Singh said on X, adding the group will share more details at a later point.