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India's Adani Group on Thursday dismissed allegations made by US prosecutors that its founder Gautam Adani had paid over $250 million in bribes to secure lucrative government contracts. "The accusations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are unfounded and denied," the conglomerate stated in a release, noting that "all potential legal actions will be pursued." Wednesday's indictment claims Adani and several subordinates paid substantial sums exceeding $250 million in bribes to Indian officials for profitable solar energy supply contracts. These agreements were anticipated to yield over $2 billion in post-tax profits across approximately 20 years. None of the multiple defendants named in the case are currently in custody.
"The Adani Group has consistently upheld and remains resolutely dedicated to maintaining the highest standards of governance, transparency, and regulatory compliance in all regions where it operates," the statement continued. "We reassure our stakeholders, partners, and employees that we are a law-abiding organization, fully compliant with all legal requirements."
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