National/ Business desk
23 November
Sandeep Dhand Ludhiana
The Adani Group has denied reports that Kenya canceled deals worth over $2.5 billion due to a US lawsuit alleging bribery. In a clarification issued today, the company stated it had not signed any agreement to operate Kenya’s main airport.
The group clarified that while discussions were held with Kenyan authorities regarding the airport project, no formal agreement was reached or signed. This statement comes in response to notices issued by stock exchanges seeking clarification on the reports.
Regarding another agreement signed last month for building and operating major power transmission lines in Kenya for 30 years, the Adani Group said that the cancellation of this project does not fall under the purview of SEBI regulations. As such, no disclosure was deemed necessary.
The group emphasized its commitment to transparency and compliance, noting that the allegations have no bearing on its operations. It assured stakeholders that it would address any concerns arising from the reports.
The Adani Group continues to engage with international partners to expand its global footprint, while reiterating its adherence to ethical practices and regulatory standards.