The Adani Group has enlisted the services of prominent U.S. law firms Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP to defend against allegations from the Securities and Exchange Commission (SEC) and the Eastern District of New York. The charges involve claims of $250 million in bribes linked to securing solar energy contracts. While Gautam Adani, the founder of Adani Green Energy Ltd (AGEL), and two others have stated they are not charged with violations under the U.S. Foreign Corrupt Practices Act (FCPA), the complex legal proceedings are ongoing in U.S. courts.

 

Sources indicate that this partnership comes four years after the termination of their joint venture for beverages, NourishCo. The SEC's allegations also relate to a $750 million bond issuance by AGEL in September 2021, which included approximately $175 million from U.S. investors, with claims that the offering documents contained misleading statements regarding anti-corruption measures.