India’s Adani Green has appointed independent law firms to review the U.S. indictment of founder Gautam Adani and top Adani Green executives of paying $265 million in bribes for power contracts, it said late on Thursday.
In November, U.S. authorities indicted Adani, his nephew and Executive Director Sagar Adani and Managing Director Vneet S. Jaain, alleging that they paid bribes to secure Indian power supply contracts, and misleading U.S. investors during fundraises there.
The Adani Group has denied the charges, calling them “baseless.”
Adani Green did not mention the names of the law firms or any other details.
The company has not been named as a defendant in the indictment and civil complaint and confirmed that it had made all appropriate disclosures in the past including in bond offering circulars, it said.
The management of Adani Green continues to assert the company’s compliance of applicable laws and regulations, it added.
