Questionable Adani Group has broken its silence days after Kenyan President William Ruto canceled its JKIA and Ketraco deals.
In a statement to clear its name from claims made by the United States government over alleged multimillion bribes, Adani management now says it still can conduct business through other departments of its own.
The company, through its Chief Financial Officer, Jugeshinder Singh, has claimed that the indictment over a $265 million (about Ksh32 billion at the current exchange rates) alleged bribe to Indian government officials to secure power deals only affected 10 per cent of the company. According to Singh, the allegations only affected Adani Green Energy.
“The allegations in the US indictment relate to one contract of Adani Green, which is roughly 10 per cent of the overall business of Adani Green,” he stated on X.
Singh further went on to state that no other firms in the conglomerate were accused of any wrongdoing. “Adani Group has a portfolio of 11 public companies, and none are subject to indictment. None of the issuers (that is, companies in our portfolio or specific issuers that are subsidiaries of the public companies) are accused of any wrongdoing in the said legal filing,” he added.
