Ex-Attorney General Mukul Rohatgi Denies Bribery Charges Against Adani

Former AG Mukul Rohatgi clarified that Gautam Adani and Sagar Adani are not charged under the U.S. FCPA, countering recent allegations of bribery. The Adani Group denies all charges, reiterating that ongoing legal responses will address accusations of securities and wire fraud. The issue follows heightened scrutiny from SEBI and earlier claims of stock manipulation.

Former Attorney General Mukul Rohatgi on Wednesday addressed allegations of bribery and obstruction of justice involving the Adani Group, clarifying that neither Gautam Adani nor Sagar Adani has been named in charges under the U.S. Foreign Corrupt Practices Act (FCPA). The clarification follows a criminal indictment by the U.S. Department of Justice (DoJ) and a civil complaint by the Securities and Exchange Commission (SEC), alleging bribery and securities fraud within the conglomerate.

Rohatgi, who has previously represented the Adani Group, asserted that the more severe allegations under the FCPA and obstruction of justice counts pertain to other individuals, not the Adanis. "When you indict someone, you need to be specific. Here, I see no details of who was bribed or how," he said, emphasizing the lack of specificity in the indictment.

The Adani Group has categorically denied all allegations, describing them as "baseless." Adani Green Energy Ltd. (AGEL) filed a statement with Indian stock exchanges, refuting reports of FCPA violations. AGEL clarified that Gautam Adani, Sagar Adani, and director Vneet Jaain face charges related to securities fraud and wire fraud but not bribery under the FCPA.

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The latest accusations come amid an ongoing SEBI investigation and in the aftermath of a damaging Hindenburg Research report in 2023, which alleged stock manipulation and accounting fraud, leading to a $140 billion loss in Adani's market value. The Adani Group has consistently denied these claims.