The Adani Group, one of India’s largest conglomerates, is facing serious allegations of corruption as US prosecutors on Wednesday accused Gautam Adani and others of orchestrating a $265 million bribery scheme to secure state energy contracts. The bribery accusations have triggered a political storm in the country.

But the seeds of the bombshell indictment were planted back in May 2022 when an insider at Azure Power raised a whistleblower complaint alleging corruption under the company's whistleblower policy.

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Former Azure executives and business tycoon Gautam Adani have been named in unsealed court documents by the US Attorney for the Eastern District of New York and the Federal Bureau of Investigation (FBI).

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The Adani Group has denied these allegations, calling them "baseless" and stating that it will pursue "all possible legal recourse."

According to Azure's 6-K filing, a disclosure submitted by foreign private issuers to the US Securities and Exchange Commission, the company received a complaint the following year alleging "improper payments and false statements" related to a project subsidiary.

While Azure acknowledged minor issues like "manipulation and misrepresentation of project data by some employees at that project site" and vendor payment concerns, it denied the more serious allegations of bribery.

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