Adani Group’s finance chief said that individuals accused by US authorities of being part of a $265 million bribery scheme, including Chairman Gautam Adani, would clarify matters with the US Department of Justice in 10 days, Reuters reported.
“As a group there will not be any action (on the US indictment) but individuals will be taking steps,” Adani Group CFO Jugeshinder Singh told reporters on the sidelines of an event in Mumbai.
Singh asserted confidence and said that there is nothing that would impact their investment plans in logistics and energy. The conglomerate will continue to invest in logistics for the next 20 years, he added.
Meanwhile, the Ministry of External Affairs (MEA) said that the Indian government was not informed in advance by US prosecutors while charging Adani and others of bribery and fraud.
In a statement on November 29, the MEA spokesperson Randhir Jaiswal said it is a legal matter involving private firms and individuals and the US Department of Justice. “There are established procedures and legal avenues in such cases which we believe would be followed. The government of India was not informed in advance on the issue,” he added.
The external affairs ministry said that any request by a foreign government for service of summons/arrest warrant is part of mutual legal assistance. Such requests are examined on merits. “We have not received any request on this case from the US side,” the MEA said on whether US served summons or warrant to Indian mission in Washington on Adani case.
The group has claimed that there were no bribery charges against Gautam Adani and other group executives. It also said that its portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least the next 12 months.
Last week, US authorities accused Adani, his nephew and executive director Sagar Adani and managing director of AGEL, Vneet S Jaain, of being part of a scheme to pay bribes to secure Indian power supply contracts and misleading US investors.
The Adani Group has denied the accusations in the US indictment as baseless and said it will seek all legal recourse.