Adani Group's 11 Public Companies Not Subject To US Indictment, Clarifies Group CFO

Adani Group Chief Financial Officer Jugeshinder Robbie Singh has addressed the ongoing controversy surrounding allegations of fraud against the group. Taking to X (formerly Twitter), Singh clarified that the allegations pertain to a single contract involving Adani Green Energy, which represents approximately 10% of the company’s overall business.

"There is a lot of news and reports that will try to pick unrelated items and create a headline. My humble request is that we will respond in fullness of time once we review in detail the matter as presented in the legal filing," the post said. 

He clarified that none of the group’s 11 public companies or their subsidiaries are defendants in the case filed by the US Department of Justice, nor are they accused of wrongdoing. Singh also mentioned that the group had disclosed potential risks earlier in its February 2024 offering circular and that the allegations remain unproven.