By Arpan Chaturvedi
NEW DELHI (Reuters) – Adani Group founder Gautam Adani responded for the primary time on Saturday to allegations by U.S. authorities that he was a part of a $265 million bribery scheme, saying that his ports-to-power conglomerate was dedicated to world class regulatory compliance.
“Less than two weeks back, we faced a set of allegations from the U.S. about compliance practices at Adani Green Energy (NS:). This is not the first time we have faced such challenges,” Adani mentioned in a live-streamed speech at an awards ceremony.
“What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group,” Adani mentioned within the northern Indian metropolis of Jaipur.
Adani Group has denied the U.S. allegations, describing them as “baseless” and vowing to hunt “all possible legal recourse”.
“In today’s world, negativity spreads faster than facts, and as we work through the legal process, I want to re-confirm our absolute commitment to world class regulatory compliance,” Adani mentioned in his speech, with out giving additional particulars.
Adani Group’s finance chief on Friday rejected the allegations, whereas the Indian authorities mentioned it has not obtained any U.S. request concerning the case.
