A US agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of Adani group on the agency’s prior agreement to lend more than $550 million to a Sri Lankan port development backed by the group.
The US International Development Finance Corp. last November said it would provide $553 million in financing for the port terminal project in Colombo.
The project is partly owned by the Adani group. Federal prosecutors in New York on Wednesday announced that Gautam Adani and seven other individuals had been indicted on charges of paying about $265 billion in bribes to the Indian government. officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India’s largest solar power plant project. DFC agency said that no funds have yet been disbursed under the loan commitment a news from timesofindia.indiatimes.com said.
Meanwhile spokesmen from Adani group said as follows.“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied. As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.” All possible legal recourse will be sought.
The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws.”
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