Gautam Adani hits back at bribery allegations, says ‘Every attack makes us stronger’

Gautam Adani, responding to recent US bribery allegations, said, “Every attack makes us stronger.” He emphasized that despite the allegations, no Adani executives have been charged with FCPA violations.

Billionaire industrialist Gautam Adani has hit back at the recent allegations that US prosecutors have made against him. Addressing the 51st Jewelery and Jewelery Awards in Jaipur on Saturday, Adani said he is resilient as chairman of the Adani Group. Speaking about the legal battles with the US Department of Justice, Adani said: “Every attack makes me stronger. Every obstacle becomes a stepping stone.”

Adani’s reaction to the US allegations

Adani made the remarks after US prosecutors raised allegations of misconduct and possible bribery related to Adani Green Energy, one of its major business groups. The charges, said to be related to alleged attempts to influence Indian government officials to win contracts for solar power projects, have created a firestorm of controversy.

Adani told his audience that the company has faced such challenges before and stood firm. “This is not the first time we have faced such challenges,” he added. “Despite many reports, no one from Adani has been charged with any violation of the Foreign Corrupt Practices Act (FCPA) or any conspiracy to obstruct justice.” He also stressed that regulatory compliance is crucial because, despite what happens, Adani Group’s “world-class practices” will continue.

The US Department of Justice and the Securities and Exchange Commission (SEC) alleged that Gautam Adani and its executives orchestrated a scheme to pay more than $250 million in bribes for government contracts for solar power projects. In addition, it was alleged that the Adani Group made false statements in the United States, lying to investors about its anti-bribery policies.

In response, Adani Group issued an official statement vehemently denying the allegations. The company called the allegations “baseless” and stressed that no Adani executive was involved in illegal activities related to the allegations.
Political and public fallout in India

The allegations have gained significant political controversy in India, with opposition parties, particularly the Congress, calling for the government to formally inquire into the matter. Senior Congress leader Rahul Gandhi is demanding severe punishment for Adani and has publicly said that “Adani should be shut down; do you think they would accept charges?

However, the Indian government has clarified that the bribery charges against Adani are simply a matter of private litigation between the US Department of Justice and private firms. External Affairs Ministry spokesperson Randhir Jaiswal explained the Indian government’s position on Friday. He said: “We see this as a legal matter involving private firms and individuals and the US Department of Justice. Obviously, there are established procedures and legal avenues in such cases, which we believe would be followed.”

Jaiswal made it clear that the Indian government was not forewarned of the allegations and did not enter into discussions with the US government.