Adani Group Refutes Bribery Allegations Linked to Trump Officials — Check Official Statement

The Adani Group in a stock exchange filing on Monday refuted all claims of his representatives meeting Trump.

The company said in a statement, "In this regard, kindly refer to the disclosure made by the Company on November 21, 2024, whereby it was submitted that there is no allegations made against the Company in the matter and the Company is not a party to any such proceedings."

What Did The Report Say?

According to the report, representatives of the Indian billionaire Gautam Adani had met officials from the US President Donald Trump 's administration to seek the dismissal of criminal charges in an overseas bribery probe.

According to media reports, it was being hinted that the resolution on this front is possible in a month.

What Was The Case All About?

As per a Reuters report, in November the authorities of the United States highlighted that Adani and his nephew Sagar Adani allegedly paid bribes to secure power supply contracts and misled US investors during fund raises there.

The financial regulator of the US summoned Gautam and Sagar Adani, alleging that they misled investors on compliance during $750 million Adani Green bond sale in the United States.

According to Adani's aides, his prosecution does not align with Trump's priorities and should be reconsidered, the report added.

Earlier this year, discussions began and have picked up in the recent weeks, with a resolution possible within a month if the momentum continues, it added.

This indictment has removed nearly $13 billion in the Adani Group's and its nine companies' market value.

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