Adani Green clears executives in US bribery investigation

Adani Green Energy announced that an independent review by external law firms found no evidence of non-compliance or irregularities in connection with US bribery allegations against its founder Gautam Adani and top executives. The review was initiated after US authorities indicted Gautam Adani, Sagar Adani, and Managing Director Vneet Jaain, accusing them of bribery to secure power contracts and misleading investors. Adani Green has consistently denied the allegations, describing them as 'baseless,' and stated it does not expect the US proceedings to have a significant impact on the company or its group. The US Securities and Exchange Commission has requested assistance from Indian authorities as part of its ongoing investigation. Despite the legal scrutiny, Adani Green has reappointed Vneet Jaain as Managing Director for another five years, citing his leadership in advancing the company's energy and infrastructure strategy. The company reiterated its commitment to legal compliance and good governance.