‘Adani Group has never backed down’: Gautam Adani addresses DoJ, SEC allegations at AGM

“Despite all the noise, the facts are that no one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice,” the world’s 20th wealthiest man, Gautam Adani, announced the steels-to-telecom conglomerate’s annual general body meeting on Tuesday.

The 62-year-old Adani Group chairman was referring to the November 2024 indictment by the US Department of Justice (DoJ) against him and eight others regarding an alleged ₹21,000-crore bribery and fraud scheme in relation to Adani Green Energy.

“Even in the face of the storms and relentless scrutiny, the Adani Group has never backed down. Instead, we proved that true leadership is not built in sunshine. It is constructed in the fire of crisis. This was tested again last year when we faced allegations from the US Department of Justice and the SEC relating to Adani Green Energy,” said Adani.

However, the billionaire reiterated that the group was cooperating with the “legal processes”.

“…As we cooperate with legal processes, let me also restate that our governance is of global standards, and our compliance frameworks are non-negotiable,” he added.

The conglomerate’s chief then went on to highlight a few achievements in FY2025 across the board. Stating that Adani Power crossed 100 billion units of generation, he said that it was “on track to reach 31GW capacity by 2030”.

Gautam Adani also stressed how Adani Ports handled “record a record 450MMT of cargo and became the beating heart of India’s trade”.

On Tuesday morning session, shares of Adani Enterprise, Adani Ports, Adani Power, and Adani Green Energy were trading in the green. 

Adani Ports even emerged as the biggest gainer on the Sensex in early morning trade, soaring by 4.7 per cent to a high of ₹1,418.85 per share on the BSE. Before the market opened, Adani Enterprises announced that its unit, Adani Airports Holdings Ltd (AAHL), secured $1 billion in financing from global investors to fund the construction of the Mumbai International Airport.

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