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.
“Lower than two weeks again, we confronted a set of allegations from the U.S. about compliance practices at Adani Inexperienced Power (NS:). This isn’t the primary time we’ve got confronted such challenges,” Adani mentioned in a live-streamed speech at an awards ceremony.
“What I can inform you is that each assault makes us stronger and each impediment turns into a stepping stone for a extra 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 doable authorized recourse”.
“In immediately’s world, negativity spreads quicker than information, and as we work by means of the authorized course of, I wish to re-confirm our absolute dedication 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 acquired any U.S. request concerning the case.
