India’s Adani Green has appointed independent law firms to review the US lawsuit, according to Reuters

(Reuters) – India’s Adani Green has appointed independent law firms to investigate U.S. allegations that founder Gautam Adani and top Adani Green executives paid $265 million in bribes for energy contracts.

The appointment of the law firms was disclosed in a 33-page regulatory filing by Adani Green late last Thursday, which, while not naming the firm, said it continued to ensure the company’s compliance with applicable laws and regulations.

In November, US authorities charged Adani, his nephew and CEO Sagar Adani and managing director Vnet S Jain with paying bribes to secure Indian power supply contracts and misleading US investors during fundraising there.

Adani Group has called the allegations “baseless”.

A key focus of the US investigation is the 2021 solar power deal in the state of Andhra Pradesh, in which Solar Energy Corporation of India awarded major renewable contracts.

The deal, approved in 57 days, has finally benefited from overriding concerns raised by financial and energy officials about the cost and potential financial burden on the government. Adani Green Energy (NSE: ) Reuters reported last month.

The company was not named as a defendant in the suit and civil complaint and said on Thursday it had already filed the appropriate disclosures, including a bond offering circular.

The U.S. bribery allegations have raised concerns among some partners and the group’s investors, with at least one Indian government reviewing its power deal with Adani and Total Energy ( EPA: ) halting further investments in the conglomerate.

Shares of Adani Green, which have lost more than 27 percent since the US lawsuit, were down 0.5 percent at 0554 GMT.