Adani’s Strong Stand After US Indictments: Resilience and Compliance, Says Every Attack Makes Us Stronger

Gautam Adani, the chairman of the Adani Group, spoke publicly for the first time after facing serious accusations and being charged in the US. He assured people that his company is dedicated to following the law and said, “Every attack makes us stronger.”

Two weeks ago, the US Justice Department and the Securities and Exchange Commission (SEC) charged Gautam Adani, Sagar Adani, and Vneet Jaain, leaders of Adani Green Energy Ltd (AGEL), with serious crimes. They are accused of misleading investors, fraud, and violating US rules in documents related to AGEL’s bonds. The Adani Group called these accusations false and plans to defend itself in court.

At an award ceremony, Adani claimed that despite negative reports, no one from his company has been charged with breaking US laws. He expressed how misinformation travels faster than the truth but emphasized the group’s commitment to following the rules.

Recently, Adani Green Energy cancelled a $600 million bond issue due to the charges. This bond was very popular, oversubscribed three times, right before the prosecutors announced the case against him and his associates for bribing Indian officials over solar power contracts.

After the charges were made public, the stocks of Adani Group companies dropped significantly, losing about $26 billion in market value. However, they have started to bounce back, with many companies seeing stock prices rise recently.

Adani shared how facing challenges is part of aiming high. He believes that these challenges only make the group stronger and tougher. He remarked that although they have had successes, the obstacles are even bigger.

He mentioned how last year, the group stopped a huge share sale after a report from a US short-seller accused them of manipulating stocks. Despite this, their commitment to principles remained strong, and they raised funds from different international sources to reduce the company’s debt.

He reminisced about investing in a coal mine in Australia, which faced a lot of resistance for nearly ten years. He stated that the challenges they faced during that project have made them resilient, as they now have a successful mine in Australia.

Finally, Adani encouraged business leaders to embrace technology and sustainability for better future, empower skilled workers, and guide the younger generation to blend tradition with innovation.