In a statement released on Thursday, Adani Group denied the bribery charges against Adani Green directors brought by the US Securities and Exchange Commission and the US Department of Justice. Adani Group called the accusations made by US prosecutors “baseless” in a news statement.

 

Gautam Adani and seven other people were charged in a multi-billion dollar bribery and fraud plot in the United States, which prompted the announcement.

“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied,” the statement said.

Additionally, Adani Group said that “the defendants are presumed innocent unless and until proven guilty and the charges in the indictment are allegations.”

The conglomerate would also investigate all potential legal options.

“In every nation where it does business, the Adani Group has maintained and is resolutely dedicated to upholding the highest levels of governance, transparency, and regulatory compliance. We reassure our partners, stakeholders, and staff that we are a law-abiding company that complies with all applicable laws,” the statement said.

“Defrauding American investors and bribing officials” is the charge against Adani, according to the US Securities and Exchange Commission. In addition to officials from Adani Green Energy and Azure Power Global Ltd., Adani, his 30-year-old nephew Sagar Adani, and Cyril Cabanes have been charged with “conspiracy to commit securities and wire fraud, along with substantive securities fraud.”

Adani and others paid around $265 million in bribery, according to the Reuters investigation. Additionally, according to the US prosecutors, several of the case’s participants referred to Gautam Adani by code names such “Numero uno” and “the big man.” They reportedly bought off the authorities to get contracts that would bring in $2 billion over the course of 20 years.