Violation Allegations - Business Outrank

The Adani Group denies all allegations of violating the US Foreign Corrupt Practices Act (FCPA) because Chairman Gautam Adani confirms that no group member has received FCPA charges. During the annual general meeting Adani told shareholders that the group continues to uphold transparency and compliance standards despite facing intense examination. The US authorities made bribery and investor deception allegations against Adani and his executives when they tried to win Indian power contracts in November. The group rejected these baseless accusations while confirming its active participation in ongoing legal procedures. According to Gautam Adani the Adani Group has never retreated from its commitments even when facing intense scrutiny and storms. The group faces SEBI investigation alongside 13 offshore investors because of 2023 Hindenburg Research allegations about tax haven misuse which the group continues to deny. The company reported positive developments about its Khavda renewable energy park which aims to build 50 GW of green power capacity before 2030. The total installed capacity will reach 100 GW through the combination of thermal and hydro assets. The company announced plans to invest between $15 billion and $20 billion each year during the next five years.

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