US Widens Probe into Adani Group, Focuses on Founder and Bribery Allegations

The investigation by US prosecutors regarding the Adani Group has expanded its scope to include the founder, Gautam Adani, and potential bribery allegations, as reported by Bloomberg News.

Sources familiar with the matter revealed that the probe is delving into whether individuals associated with the Adani Group, including Gautam Adani, were involved in providing improper payments to officials in India in exchange for preferential treatment related to an energy project.

The inquiry, led by the US Attorney’s Office for the Eastern District of New York and the Justice Department’s fraud unit in Washington, is also examining the activities of Indian renewable energy firm Azure Power Global Ltd.

Adani Group, in response to the report, stated that they are not aware of any investigation against their chairman and emphasized their compliance with anti-corruption laws in India and globally, maintaining the highest governance standards.

Representatives for the US Justice Department in Brooklyn and Washington declined to provide comments on the matter, while Azure Power Global Ltd. did not respond to requests for comment. Both Adani and Azure have not faced any charges from the US Justice Department at this point.

The investigation into Adani Group holds significance due to its extensive presence in India across various sectors like ports, airports, power, and highways. The potential legal scrutiny in the US stems from the involvement of American investors or markets, allowing US prosecutors to investigate foreign corruption allegations.