Gautam Adani was charged by US prosecutors for allegedly being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for the favourable terms for solar power contracts.

Gautam Adani faces a criminal charge of foreign bribery, independent of the three existing charges against him; and to remove and replace language describing the three charges and their potential penalties in paragraph 20) Gautam Adani,

Adani Green Energy said that contrary to media reports, its chairman Gautam Adani and his aides have not been charged for violating the U.S. Foreign Corrupt Practices Act.

Gautam Adani, 62, along with the seven other defendants were accused of paying about $265 million in bribes to Indian government officials.

Indian billionaire Gautam Adani has been charged in the United States for alleged securities law violations and faces potential fines but has not been charged under the U.S. Foreign Corrupt Practices Act,

Adani, 62, one of Asia’s richest men, was thrust into the spotlight last week when U.S. prosecutors in New York charged him and seven of his associates with securities fraud.

Adani has been charged by U.S. federal prosecutors with defrauding investors for a solar energy project in India.

Embattled billionaire Gautam Adani and his aides have not been charged under the US Foreign Corrupt Practices Act, an Adani Group entity said on Wednesday, adding that they faced three other charges,