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India's Adani Green says aware of US probe into third party, denies relationship
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India's Adani Green says aware of US probe into third party, denies relationship
Mar 19, 2024 3:27 AM

BENGALURU, March 19 (Reuters) - India's Adani Green

Energy said on Tuesday it is aware of a U.S.

investigation into potential violations of anti-corruption laws

by a "third party", but denied any relationship with the entity.

Adani's comment comes days after Bloomberg News reported

that U.S. investigators were probing whether an Adani entity or

individuals linked to the company, including founder Gautam

Adani, were involved in paying officials in India for favourable

treatment on an energy project.

In a statement filed with exchanges, Adani Green said it has

no relationship with the third party and is "thus unable to

comment" on the scope of the U.S investigation into the alleged

dealings.

It also said it had not received any notice from the U.S.

Department of Justice in respect of the allegations in the

report.

Adani did not reply to Reuters' request for additional

details on the third party.

The Bloomberg report said the United States was also looking

at Indian renewable energy company Azure Power Global. Azure

Power Global also did not respond to Reuters' request for

comment.

In separate statements, Adani Wilmar, Adani

Enterprises, Adani Ports, Adani Power

and Adani Energy Solutions said the report

was "false".

In a note, JP Morgan analysts stood pat on their

recommendations on the Adani Group, saying it would likely face

limited financial or fundamental impact from the investigation.

Shares of Adani Green closed 2.6% lower in a broadly weak

domestic equity market.

(Reporting by Chris Thomas and Varun Vyas in Bengaluru; Editing

by Varun H K)

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