(Reuters)-Indian cabinet Adani Green has announced that he has in charge of independent law firms to examine the American indictment of the founder Gautam Adani and his senior leaders for paying $ 265 million in bribes for electricity contracts.
The appointment of law firms was announced Thursday evening in a regulatory file on the results of 33 pages submitted by Adani Green, in which he did not disclose the names of the firms, but said that he continued to assert Company compliance with applicable laws and regulations.
In November, the American authorities charged Adani, its nephew and executive director Sagar Adani and its director general Vneet S. Jaain, alleging that they had paid bribes to obtain electricity supply contracts in India and to have misleaded American investors during fundraising in this country.
The Adani group denied these accusations, calling them “baseless”.
One of the main objectives of the US survey is a 2021 solar energy agreement in the state of Andhra Pradesh, where the Solar Energy Corporation of India has awarded an important renewable energy contract.
The agreement, approved within 57 days, bypass the concerns raised by finance and energy officials concerning its value and the potential financial tensions on the State, ultimately benefiting Adani green energy (NSE :), reported Reuters last month.
The company was not cited as a defendant in the indictment or in the civil complaint, and said Thursday that it had made all the appropriate disclosure in the past, including in the supply circulars Obligations.
The allegations of corruption in the United States have aroused concerns among certain partners and investors of the group, at least one Indian State re-examining its electricity agreement with Adani and Totalenergies (EPA 🙂 suspending any new investment in the conglomerate.
Adani Green’s shares, which have lost more than 27% since American indictment, were down 0.5% at 05:54 GMT.