Ahmedabad: The Adani Group on Monday firmly rejected a report by the Wall Street Journal that alleged links between its entities and Iranian-origin liquefied petroleum gas (LPG), calling the claims “baseless and mischievous.”

In a stock exchange filing, Adani Enterprises clarified: "Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG, adding that it is not aware of any investigation by the US authorities into this matter."

The company said the WSJ’s article “appears to be based entirely on incorrect assumptions and speculation. Any suggestion that Adani Group entities are knowingly in contravention of US sanctions on Iran is strongly denied,” and added that such a claim “would not only be slanderous but also deemed to be an intentional act to injure the reputation and interests of the Adani Group.”

The group further stated: “Additionally, the Adani Group does not manage or facilitate any ships whose owners are Iranian. This policy is strictly adhered to across all our ports.”

Addressing the specific shipment mentioned in the report, the group explained it was part of a “routine commercial transaction via third-party logistics partners” and the accompanying documentation identified Sohar, Oman, as the port of origin.

Adani Enterprises also emphasized that its LPG segment contributes just 1.46 per cent to its total consolidated revenue and confirmed that its trade practices fully comply with all relevant domestic and international laws, including US sanctions.

“As an importer of LPG, the appropriate due diligence and KYC of the suppliers is undertaken to ensure that the entities/persons are not on the OFAC sanctions list. The logistics of LPG trade are managed by well-established third-party international suppliers and logistics firms, which manage shipping in accordance with global compliance standards,” the company said.

It also stated: “The supplies are under valid contracts with the supplier having specific clauses that the product should be from non-sanctioned countries.”