365Telugu.com Online News, November 27, 2024:Indian billionaire Gautam Adani is facing allegations under the Foreign Corrupt Practices Act (FCPA), sparking significant discussion. However, Adani Group has clarified that these allegations are baseless and untrue.
To address the matter, prominent lawyer and former Attorney General of India, Mukul Rohatgi, held a press conference. “There is no evidence against Gautam Adani, his nephew Sagar Adani, or Vineet Jain regarding FCPA violations,” he stated.
Impact of the Allegations:
The accusations under the FCPA recently led to a significant drop in Adani Group’s stock value. However, the company, in its latest statement, has dismissed the allegations as completely unfounded.
Mukul Rohatgi’s Remarks:
“I have thoroughly examined the matter. There is no substance to the allegations against Gautam Adani and his nephew,” Mukul Rohatgi confirmed during the press meet.
This clarification is expected to alleviate some of the pressure on the company. Meanwhile, market analysts are keenly observing for positive developments following these statements.