(Reuters) – Indian Adani Green said he had appointed independent law firm to question the US indictment against the founder of Gautama Adani and the highest executives Adani Green for paying $ 265 million myths for power contracts.
The appointment of law companies was announced in the regulatory submission of 33 pages that Adani Green filed late Thursday, in which he did not reveal the names of the companies, but said that he continued to claim that the company respects applicable laws and regulations.
In November, US authorities were accused by Adani, his nephew and director of Sagarus Adani and Director General of Vvneet S. Jaain, stating that they were bribed to provide Indian electricity supply and deceive US investors during the funds collection there.
The Adani Group rejected the accusations, calling them “unfounded”.
The key focus of the US investigation is a solar energy contract of 2021 in the State of Andhra Pradesh, where the Indian corporation for solar energy has awarded a major contract for renewable energy sources.
With the contract, approved within 57 days, concerns of officials for finance and energy over its value and potential financial burden of the state were bypassed, which ultimately favored Adani green energy (NSE :), Reuters reported last month.
The company was not appointed as a defendant in an indictment and a citizen laws, and Thursday said that in the past it had given all the appropriate announcements, including circular bond offers.
Co-aid charges in the US have caused concern among some partners and investors of the group, with at least one Indian state re-examining their contract with Adani and Totalenergies (EPA 🙂 She stopped further investments in the conglomerate.
Adani Green’s shares, which lost more than 27% of the US indictment, fell 0.5% of 05:54 GMT.
