Adani bribery case: US court clubs three cases and orders joint criminal, civil trial

All three cases will now be overseen by District Judge Nicholas G. Garaufis, who is also presiding over the criminal trial against Adani

All three cases will now be overseen by District Judge Nicholas G. Garaufis, who is also presiding over the criminal trial against Adani
All three cases will now be overseen by District Judge Nicholas G. Garaufis, who is also presiding over the criminal trial against Adani

US court clubs cases against Gautam Adani over $265 mn bribery charges

In a bid to speed up the prosecution, a New York court has ordered to club the three ongoing cases against industrialist Gautam Adani, nephew Sagar Adani, and others on charges of USD 265 million bribery. The court ruled that the cases would be heard together in a joint trial. The ruling came as the court noted that the cases stem from similar allegations and transactions.

The cases that have been tagged together include US vs Adani and others (the criminal case against Adani), Securities and Exchange Commission (SEC) vs Adani and others (the civil case against Adani), and SEC vs Cabanes (the civil case against the other accused).

The New York court said the decision had been taken to promote judicial efficiency and avoid conflicting schedules. It will assign all the cases to District Judge Nicholas G. Garaufis, who is also overseeing the criminal case against Adani. The court staff has been instructed to carry out the reassignment of the cases.

Adani and others are charged with paying USD 265 million (around Rs.2,029 crore) in bribes to get solar energy contracts with State electricity distribution companies through the Government of India’s Solar Energy Corporation. Adani Group’s India-based companies and their US-based linked firm Azure Power entered a deal with the Government of India’s firm Solar Energy Corporation and then supplied power at exorbitant rates to State Governments’ power companies in Andhra Pradesh, Tamil Nadu. US authorities found that huge bribes were paid by Adani Group firms to bag contracts.[1]

US prosecutors said that the fact was kept hidden from the US banks and the investors from whom the Adani Group raised funds for the solar energy projects.

Reference:

[1] US Court indicts Gautam Adani, nephew Sagar, and others for $265 million bribery in Indian Solar projectsNov 21, 2024, PGurus.com

For all the latest updates, download PGurus App.

We are a team of focused individuals with expertise in at least one of the following fields viz. Journalism, Technology, Economics, Politics, Sports & Business. We are factual, accurate and unbiased.
Team PGurus

4 COMMENTS

  1. A cock-eyed juducial system, which finds aone ex president under one president which would have meant years in jail, but the minute he get elected as president everything changes. Who can trust the system and the rule of law which get manipulated to suit the interests of those in power,

LEAVE A REPLY

Please enter your comment!
Please enter your name here