Adani Green Energy said on Tuesday it is aware of a US 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 US 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 US investigation into the alleged dealings.
It also said it had not received any notice from the US 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.
