Gautam Adani says his group committed to compliances; 'every attack makes us stronger'
30 Nov 2024 10:50 PM IST
Jaipur: Adani group chairman Gautam Adani on Saturday responded to recent allegations and indictment in the US, saying that the conglomerate was committed to compliances and "every attack makes us stronger". "Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award here.
On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint in the New York district court against Gautam Adani, Sagar Adani and Vneet Jaain, key functionaries of Adani Green Energy Ltd (AGEL).
The charges relate to allegations of securities fraud, wire fraud and violation of the SEC guidelines that led to materially false and misleading statements in the bond offering documents of AGEL with respect to anti-bribery and anti-corruption policies.
Adani Group had denied all allegations as baseless, and said it would seek legal recourse to defend itself.
Speaking at the event here Adani said: "The fact is, despite a lot of vested reporting, no one from Adani's side has been charged with any violation or any conspiracy to obstruct justice. Yet, in today's world, negativity spreads faster than facts."
"As we work through the legal process, I want to reconfirm our absolute commitment to compliance," he said, adding that over the years, he has come to accept that the roadblocks we face are the price of pioneering.
"The more bold your dreams, the more the world scrutinises. But it is precisely in that scrutiny, that you must find the courage to rise to challenge the status quo," he said.
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