New Delhi. The US District Court and the US Securities and Exchange Commission (SEC) have accused Adani Group of bribery. These allegations are related to solar energy contracts. In this case, the name of Sagar Adani is in focus. It is noteworthy that Sagar Adani is the nephew of Adani Group Chairman Gautam Adani and holds the post of Executive Director in Adani Green Energy Limited, which is under US investigation.
Sagar joined Adani Group in 2015
Sagar Adani has obtained a degree in Economics from Brown University, America. Sagar joined Adani Group in the year 2015. He manages the energy business and finance of the group. He started the solar and wind portfolio of Adani Green Energy. He is also focusing on renewable energy.
Search warrant was issued against Sagar last year
In March 2023, FBI special agents had issued a search warrant against Sagar Adani. He was also given a grand jury summons. This has been said in the order of the US District Court.
Accusations against Adani Group
American prosecutors have alleged that Adani Group has paid bribes worth about Rs 2,100 crore to get solar energy contracts in India. Gautam Adani, Sagar R Adani and Vineeta S Jain have been named in the charge sheet filed in Brooklyn, New York.
Adani Group’s clarification
A statement has come out from Adani Group on the allegations. The group spokesperson said that the allegations made by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green are baseless and are refuted.
Tags: Adani Group
FIRST PUBLISHED: November 21, 2024, 19:34 IST
