Every attack makes us stronger: Gautam Adani on US indictment

Jaipur: Adani Group chairman Gautam Adani addressed recent allegations and an indictment in the US, emphasising the group's unwavering commitment to compliance and resilience, reported PTI. "Every attack makes us stronger," Adani remarked while speaking at the 51st Gems and Jewellery Awards in Jaipur, Rajasthan.

"Less than two weeks 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," Adani stated.

On November 20, 2024, the US Department of Justice and the Securities and Exchange Commission (SEC) filed an indictment and a civil complaint in the New York district court against Gautam Adani, Sagar Adani, and Vneet Jaain, key figures of Adani Green Energy Ltd (AGEL).

The accusations involved securities fraud, wire fraud, and violations of SEC guidelines. The charges claimed that AGEL's bond offering documents contained materially false and misleading statements related to anti-bribery and anti-corruption policies. The Adani Group has dismissed the allegations as baseless and intends to pursue legal avenues to defend its position.

Addressing the event, Adani stated, "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."

He reiterated the group's dedication to compliance, saying, "As we work through the legal process, I want to reconfirm our absolute commitment to compliance." Reflecting on the challenges faced, Adani noted that obstacles are a natural consequence of being a trailblazer.

"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 added.