Every attack makes us stronger: Gautam Adani on accusing the US

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

“Less than two weeks ago, we faced a set of allegations from the US regarding our compliance practices. This is not the first time we have faced challenges like this. What I can tell you is that every attack it makes us stronger,” Adani said.

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

The charges involved securities fraud, wire fraud and violations of SEC guidelines. The allegations alleged 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 unfounded and plans to seek legal avenues to defend its position.

Speaking at the event, Adani said: “The truth is that, despite many reports, no one from Adani has been charged with any wrongdoing or conspiracy to obstruct justice. However, in today’s world, negativity spreads faster than facts.”

He reiterated the group’s commitment to compliance, saying: “As we work through the legal process, I want to reaffirm our absolute commitment to compliance.” Reflecting on the challenges they face, Adani noted that obstacles are a natural consequence of becoming pioneers.

“The bolder your dreams, the more the world scrutinizes. But it is in this scrutiny that you must find the courage to stand up to challenge the status quo,” he added.