'Every attack has made us stronger': Gautam Adani

Coming out in public for the first time after recent allegations and his indictment in the US, Adani group chairman Gautam Adani on Saturday said his conglomerate was committed to compliances and "every attack makes us stronger". "Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
Adani said that despite a lot of vested reporting, no one from Adani's side has been charged with any violation of the FCPA (Foreign Corrupt Practices Act) of the US or any conspiracy to obstruct justice. "The fact is that despite a lot of the vested reporting, no one from the Adani side has been charged with any violation of the FCPA or any conspiracy to obstruct justice. Yet, in today's world, negativity spreads faster than facts," he said, adding that the group was committed to regulatory compliances. "As we work through the legal process, I want to re-confirm our absolute commitment to world class regulatory compliance," he added. Adani Green Energy Ltd, the renewable energy arm of the port-to-energy conglomerate, on November 21 scrapped a USD 600-million bond issue.
Over the years, I have come to accept that the roadblocks we face are the price of pioneering. The bolder your dreams, the more the world will scrutinise you. But it is precisely in that scrutiny that you must find the courage to rise, to challenge the status quo, and to build a path where none exists," he said. Adani said that the group had successes but the challenges have been bigger. "However, these challenges have not broken us. Instead, they have defined us. They have made us tougher and give us the unshakeable belief that after every fall, we will rise again, stronger and more resilient than before," he said.
On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint in the New York district court against Gautam Adani, Sagar Adani and Vneet Jaain, key functionaries of Adani Green Energy Ltd (AGEL). The charges relate to allegations of securities fraud, wire fraud and violation of the SEC guidelines that led to materially false and misleading statements in the bond offering documents of AGEL with respect to anti-bribery and anti-corruption policies. Adani Group had issued a statement denying all allegations as baseless, and said it would seek legal recourse to defend itself.