Abu Dhabi's IHC Maintains Confidence in Adani Group Despite U.S. Fraud Allegations

The Adani Group denies U.S. charges of fraud and bribery, while key international partners reaffirm their support for the Indian conglomerate.

The U.S. Department of Justice has indicted Gautam Adani, his nephew Sagar Adani, and Adani Green's managing director Vneet S. Jaain on charges of securities fraud, wire fraud, and conspiracy, alleging a $265 million bribery scheme to secure Indian power contracts.
Abu Dhabi's International Holding Company (IHC), a major investor in Adani Group, stated its outlook on the conglomerate remains unchanged, citing confidence in its contributions to green energy and sustainability.
The Adani Group has denied all allegations as baseless and announced plans to pursue legal recourse to defend itself against the charges.
Other international partners, including Sri Lanka Ports Authority Tanzanian government, have reaffirmed their commitment to ongoing infrastructure projects with the Adani Group.
Adani Green Energy, at the center of the allegations, has clarified that the charges against its executives do not include violations of the U.S. Foreign Corrupt Practices Act (FCPA), focusing instead on securities-related offenses.