The founder of Indian mining conglomerate Adani Group, Gautam Adani, has broken his silence to address bribery allegations for the first time. He said the group complied with world-class regulatory standards.
Addressing an awards ceremony on Saturday, Adani said: "Less than two weeks ago, we faced a series of allegations from the United States about Adani Green Energy's compliance practices. This is not the first time we have faced such a challenge."
The US allegations against the Adani Group have sent shockripples through the Indian and international industries, with one Indian state capital reviewing an energy contract with the group and France's Total Energy deciding to suspend investment.
Us authorities have accused Adani Green Energy of paying US $265 million (S $356 million) in bribes. Adani and seven other defendants have been charged in the United States with multiple counts of fraud, including agreeing to pay bribes to Indian government officials to secure contracts expected to generate $2 billion in profits over 20 years and develop India's largest solar power plant project.
Adani reiterated that the company absolutely complies with world-class regulatory standards, but did not provide details.
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