A US court filed an indictment against the Adani Group

The US Department of Justice (DOJ) 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 executives of Adani Green Energy Ltd. (AGEL).

The charges relate to allegations of securities fraud, wire fraud and violations of SEC rules. These allegations include allegations of materially false and misleading statements in AGEL’s bond offering documents, particularly regarding the company’s anti-bribery and anti-corruption policies.

However, the Adani Group denied the allegations, calling them “baseless” and said it would go to court to defend itself.