Gautam Adani, nephew not charged under US Foreign Corrupt Practices Act: Adani Green

Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US authorities in a court in a bribery case, the Adani Group said on Wednesday.

They have been charged with offences that are punishable with a monetary fine or penalty.

"Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC.

"These directors have been charged on three counts in the criminal indictment, namely (i) alleged securities fraud conspiracy, (ii) alleged wire fraud conspiracy, and (iii) alleged securities fraud," the filing said.

The Adani Group has denied all allegations and said it will take all possible legal recourse to defend itself.

A criminal indictment has been filed before the United States District Court Eastern District of New York by the Department of Justice in the case of USA against Gautam Adani, Sagar Adani and Vneet Jaain.

"The indictment does not specify any quantum of any fine/penalty," the company said.

The civil complaint alleges that the executives violated certain sections of the Securities Act of 1933 and the Securities Act of 1934, and aided and abetted Adani Green Energy Limited's violation of the Acts, it said.

"Although the complaint prays for an order directing the defendants to pay civil monetary penalties, it does not quantify the amount of penalty," it said.