No Bribery Charges Against Gautam Adani, Nephew: Adani Group On US Allegations; Portfolio Sees Stellar Recovery

Adani Group chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain are clear of any bribery charges per the US Department of Justice, the Adani Group stated today. Adani Green, a firm under the Adani Group, has also called media reports on this as "incorrect", in a latest stock exchange filing.

"Mr Gautam Adani, Mr Sagar Adani and Mr Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC (EXPAND)," the Adani Group said in a statement. FCPA refers to the US Foreign Corruption Practices Act.