Adani Green Energy Ltd. (ADNA.NS) has engaged independent law firms to review the U.S. indictment involving its founder Gautam Adani, Executive Director Sagar Adani, and Managing Director Vneet S. Jaain. The indictment alleges that the executives paid $265 million in bribes to secure Indian power contracts and misled U.S. investors during fundraising efforts.

In a statement issued late Thursday, Adani Green reiterated its position, calling the allegations "baseless." The company clarified that it has not been named as a defendant in the indictment or associated civil complaints.

The company emphasized that all required disclosures, including those in bond offering circulars, have been appropriately made in the past. "The management of Adani Green continues to assert the company's compliance with applicable laws and regulations," the statement added.

Adani Green did not disclose the names of the law firms appointed or additional details regarding the review.

The charges, brought by U.S. authorities in November, have cast a spotlight on the business practices of the Adani Group, a conglomerate that has denied all allegations.

This development comes amidst ongoing scrutiny of the Adani Group’s operations and financial practices on a global scale.