Mukul Rohatgi and Mahesh Jethmalani Defend Gautam and Sagar Adani Against US Bribery Allegations, Criticize Opposition

The Adani Group has strongly refuted allegations of bribery and violations of the US Foreign Corrupt Practices Act (FCPA) against its chairman Gautam Adani, nephew Sagar Adani, and executive Vneet Jaain. In a statement, the company clarified that none of these individuals have been charged under the FCPA, dismissing the claims as “incorrect.” Adani Green Energy Ltd, the entity implicated, emphasized in a stock exchange filing that the charges relate to securities fraud, wire fraud conspiracy, and securities fraud, but not bribery.

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Bribery Accusations Labeled as Baseless

According to the indictment, Adani executives were allegedly involved in a scheme to pay $265 million in bribes to Indian officials to secure lucrative solar electricity contracts. The contracts were projected to yield $2 billion in profit over 20 years. However, the Adani Group categorically denied these accusations, affirming its intent to pursue all necessary legal remedies. The company further noted that the indictment does not specify the quantum of penalties sought.

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Legal Experts Critique Allegations

In a joint press conference, former Attorney General Mukul Rohatgi and senior advocate Mahesh Jethmalani criticized the lack of evidence and specifics in the charges. Rohatgi noted that neither Gautam nor Sagar Adani were named in the critical counts of the indictment. Making it difficult to respond meaningfully. Jethmalani accused opposition parties of politicizing the issue. Asserting that it was being used as a distraction following their electoral setbacks.

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Questions Over DOJ’s Intentions

Jethmalani raised concerns about the motives behind the US Department of Justice’s actions. Citing former US President Donald Trump’s criticisms of the agency. He described the indictment as rushed and politically motivated. Hinting that Gautam Adani’s public support for Trump might have drawn undue attention. The Adani Group reiterated its commitment to addressing the matter legally and firmly denied all allegations.

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