Gautam Adani, Chairman of the Adani Group, addressed allegations made by US prosecutors regarding Adani Green Energy’s compliance practices. Speaking at the 51st India Gem and Jewellery Awards in Jaipur, he emphasized the group’s resilience in the face of repeated challenges. Despite recent claims linked to a US bribery case, Adani declared, “Every attack makes us stronger, and every obstacle becomes a stepping stone for a more resilient Adani Group.” He noted that no charges have been brought against the group concerning the FCPA or obstruction of justice.
Adani also reflected on past adversities, such as a short-selling attack last January by US firm Hindenburg, which aimed to destabilize their financial standing and drag them into political controversies. Despite these challenges, Adani highlighted the group’s financial triumphs, including raising 20,000 crore rupees through India’s largest-ever Follow-on Public Offering, and the unprecedented step of returning proceeds for further financial fortification. The company’s decision to maintain a Debt to EBITDA ratio below 2.5 times was pointed out as a testament to its financial discipline.
Further recounting the ten-year resistance faced over the coal mine investment in Australia, Adani expressed acceptance of the difficulties as part of pioneering bold ventures. He stressed the importance of courage in facing scrutiny and encouraged embracing technology and sustainability, empowering the skilled workforce, and nurturing youth innovation.
Concluding his speech, Adani envisioned a future where traditional wisdom and modern innovation converge, urging a confident advancement of India on the global stage. “Let us create an India where the wisdom of tradition and the promise of innovation come together to challenge the status quo,” he stated, emphasizing the path forward for the Adani Group and the nation.
Original Story https://www.india.com/business/gautam-adani-on-charges-by-us-prosecutors-every-attack-has-made-us-stronger-7432581/
Category : Business,EBITDA,Gautam Adani
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Publish Date: 2024-11-30 22:40:00
