Adani Green said on Monday that his independent review of the American prosecution of the founder Gautam Adani and the top Adani Green authorities, who was accused of paying $ 265 million in bribery for power contracts, did not identify any non-transformation or irregularities.
In November, US officials accused Gautam Adani, his nephew and executive director Sagar Adani and Managing Director Vanit S Jain, alleging that he paid bribe to secure the Indian power supply contracts and misled American investors during the fund.
The Adani Group denied the allegations, called them “baseless”.
The company appointed independent law firms in January to review the US prosecution.
Based on this review, the management of the holding company concluded that IT, with its subsidiaries, complied with applied laws and rules, Adani Green said in an exchange filing.
The company said that it does not expect that the US proceedings will have physical results for the group.
The US Securities and Exchange Commission asked Indian officials to assist for their investigation in February.
Meanwhile, despite the US prosecution, the company re -appointed Vneet Jaain as its managing director for five years effective from July 10.
During his 15 -year tenure, Mr. Jane is “played on the group’s strategy for his energy and infrastructure business and played an important role in growing various businesses from concept to operation,” Adani Green said in a statement.
(Disclaimer: New Delhi Television AMG Media Networks Limited is a subsidiary of a Adani group company.)
