New Delhi, March 20 (IANS) After a recent JP Morgan report dismissed the possibility of bribery within the Adani Group due to transparency in India’s renewable energy sector, the group denied receiving any notice from the US Department of Justice (DoJ) regarding bribery allegations.
The Adani Group refuted claims of any DoJ notice in a stock exchange filing, labeling the media report as “false.” The company stated, “not received any notice from the Department of Justice in respect of the allegation.”
Bloomberg had reported that the US Attorney Office and DoJ are investigating potential bribery involving an Adani Group entity and Azure Power Global last weekend, but Adani Green Energy Ltd clarified they have not received any notice related to the investigation.
Adani Green Energy Ltd acknowledged the US DoJ’s investigation into potential anti-corruption law violations but emphasized no direct involvement with the third party under scrutiny, therefore unable to comment on the investigation’s scope or impact on the company.
Citing the JP Morgan report, it is noted that even if the investigation escalates to prosecution and bribery allegations are established, the financial impact on the renewable energy projects of Adani Group is expected to be minimal due to high transparency in India’s renewable energy tenders, making significant corruption less likely.
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