The Adani’s prosecutions is ‘legal matter involving private firms, individuals and US authorities says MEA
The Adani’s prosecutions: The Indian government has stated that the recent indictment of industrialist Gautam Adani and others linked to the Adani Group in the United States is a legal issue involving private individuals, companies, and the US Department of Justice. The Ministry of External Affairs clarified on Friday that New Delhi was not informed about the case in advance by Washington.
On November 20, the US Attorney’s office in New York indicted Gautam Adani, the chairman of the Adani Group, in a $265 million bribery and fraud case. Ministry spokesperson Randhir Jaiswal told reporters that while legal procedures would be followed in such cases, the Indian government had not been notified ahead of time. Jaiswal added that there had been no discussions between New Delhi and Washington on this matter.
The Adani’s prosecutions: He further explained that India had not received any requests from the US to serve summonses or arrest warrants in the case. Such requests, part of mutual legal assistance agreements, would be assessed on their merits.
“This is a matter that pertains to private individuals and private entities,” Jaiswal said, emphasizing that the Indian government is not legally involved in the case at this stage.
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The Adani’s prosecutions: The US Department of Justice has accused Adani Group executives of participating in a bribery scheme related to solar energy contracts in India. The charges also include misrepresenting the company’s anti-bribery practices to US investors, with details of the alleged bribes concealed to secure financing. The Adani Group has denied these allegations and pledged to take legal action.
The indictment includes charges of conspiracy to obstruct justice and violations of the Foreign Corrupt Practices Act, but Adani and his executives have not been charged on these counts. The document also names Adani, Sagar, and Cyril Cabanes of Azure Power Global in connection with the alleged bribery scheme.
On Wednesday, the Adani Group clarified that Gautam Adani and his nephew Sagar Adani had been charged with securities fraud, not bribery. These charges have significantly impacted the group’s market value, with shares falling by $54 billion since the news broke. In response, credit rating agency Moody’s downgraded the outlook for Adani firms to “negative,” and partner TotalEnergies has paused investments due to legal uncertainties surrounding the case. Source Scroll.in
