New Delhi:
Adani Group has clarified that the US government’s report on the company is related to only one contract under Adani Green Energy, the value of which is only about 10 percent of the total business of Adani Green Energy. The group said none of its 11 public companies have been involved or accused of any wrongdoing.
Adani Group has strongly condemned the American report and termed it ‘baseless’.
In a post on micro-blogging website .
Jugeshinder Singh said in the statement, “You may have seen a lot of news related to the affairs of Adani Group in the last two days… These relate to a contract of Adani Green, which is approximately 10 percent of Adani Green’s total business ( There is more accurate and comprehensive information available, which we will elaborate on in the appropriate forum)…”
Hi all,
You would have seen a lot of news in the last 2 days re @AdaniOnline matters. This specifically relates to one contract of #adanigreen which is roughly 10% of overall business of Adani Green(there is a lot more precise & comprehensive detail of this which we will…— Jugeshinder Robbie Singh (@jugeshinder) November 23, 2024
The group CFO further said in the statement, “Adani Group has a portfolio of 11 public companies and none of them are accused (i.e., defendants in any legal proceedings) in the recent DOJ Lawyer filing in a New York court. … The above legal filing does not allege any wrongdoing by any of the issuers (i.e. our portfolio companies or specific issuers that are subsidiaries of public companies) There will be… many reports which will try to make news by sorting out completely unrelated things… We will respond at the appropriate time after reviewing the matter in detail…”
Jugeshinder Singh also said that the group became aware of the ‘specificity’ of the allegations only two days ago.
After the report came out, Adani Group said, these are mere allegations and they should be seen as such. The group has decided that legal action will be explored.
Adani Group had said in a statement, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green are baseless and we deny them…”
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