The Adani Group has said it was 'not aware of any investigations against the company and its chairman', after a report with Bloomberg News said the United States was probing bribery allegations against the group, with its focus on the conduct of its founder, Gautam Adani.
According to a report, US prosecutors were digging into whether an Adani entity or people linked to the company, including Gautam Adani, were involved in paying Indian officials for favourable treatment on an energy project.
The investigation was being handled by the US Attorney's office for the Eastern District of New York and the Justice Department's fraud unit in Washington.
The report also stated that investigations were focussing on an Indian renewable energy company, Azure Power Global.
While Adani Group denied the allegations firmly, it not only led to a slide in Adani Group stocks but also became a matter of political debate.
As the situation stands, none of Hindenburg’s accusations against Adani have been proven so far
Source: India Today