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,

Media articles stating that our directors Gautam Adani, Sagar Adani, and Vneet Jaain have been charged with violations of the US Foreign Corrupt Practices Act (FCPA) are incorrect,” AGEL said

Adani Group shares are set to draw attention on Wednesday, November 27, following Adani Green Energy's clarification that Gautam Adani, Sagar Adani, and Vneet Jaain have not been charged with FCPA violations by the US DOJ or SEC.

Shares of Adani Green Energy and other Adani group stocks such as Adani Power , Adani Energy Solutions and Adani Enterprises rallied after being hammered for the past few days after the group clarified that there are no bribery charges against Gautam Adani and other top group executives.

Adani Group denies US bribery law violations and says the founder faces only fraud charges as the political fallout intensifies in India.

Official statement clarifies that Gautam Adani, Sagar Adani, and Vneet Jaain were not charged with FCPA violation in the US indictment; Adani stocks jump

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,

Adani Green Energy Ltd (AGEL) refuted media claims of bribery charges against Chairman Gautam Adani, his nephew Sagar Adani, and executive Vneet Jaain under the US Foreign Corrupt Practices Act (FCPA).

The Adani Group has refuted the alleged bribery allegations made by the US Department of Justice and the US Securities and Exchange Commission against Group's founder and Chairman Gautam Adani his nephew Sagar Adani and MD CEO Adani Green Energy Vineet Jaain in a filing with the stock exchanges.