Adani Officials Cleared of Bribery Charges by US DOJ

The US Department of Justice (DOJ) has not charged Adani Group Chairman Gautam Adani, his nephew Sagar Adani, or senior executive Vneet Jaain with bribery, according to Adani Green Energy Ltd.’s (AGEL) recent stock exchange filing. The company called media reports alleging corruption charges against these officials “incorrect.”

The DOJ indictment mentions Adani officials only in relation to securities and wire fraud conspiracies (Counts 2, 3, and 4), not bribery or obstruction (Counts 1 and 5). The corruption charges involve Azure Power and CDPQ employees, not Adani executives.

The false allegations and reporting have led to significant losses for the Adani Group, including a $55 billion market cap drop and canceled projects globally. The Adani Group maintains its innocence, criticizing the DOJ case as relying on hearsay and weak evidence.