New Delhi

The Adani group's Chief Financial Officer said the conglomerate will respond to the US bribery charges after a legal review and post seeking permission to talk on the allegations as this is now under litigation.

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Adani group CFO Jugeshinder Singh, in a post on X on Saturday, said, "We will respond in fullness of time once we review in detail the matter as presented in the legal filing." He added that none of the group's eleven firms or issuers' been indicted.

On Wednesday, US authorities accused Gautam Adani and other top executives of conspiring to bribe Indian government officials to the tune of $250 million to get solar energy contracts.

The group allegedly intended to hide this scheme while they solicited funds from US investors.

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In a five-count indictment, the prosecutors levied charges of US law violations against Gautam, Sagar Adani, the billionaire's nephew, and several other top executives.

According to Singh's post on X, the charges pertain to a single contract with Adani Green, accounting for around 10 per cent of the firm's total business. He also said the organisation was made aware of the "specificity" of the claims just two days ago.

Adani Group has pledged to pursue all legal options to defend itself. The Adani Green firm has denied any wrongdoing. However, the company cancelled Thursday's bond issuance of $600 million. Adani Green Energy had planned to use the bond sale's proceeds to repay foreign-currency loans.

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Following a $27 billion drop in the conglomerate's market value on Wednesday due to bribery accusations the day before, Most Adani group stocks recovered some of those losses on Friday, with the cement businesses leading the way.