Team News Riveting
New Delhi, November 27
Adani Green Energy Ltd (AGEL), the green arm of Adani Group, stated in a regulatory filing on Wednesday that reports against company’s directors Gautam Adani, Sagar Adani, and senior executive Vneet Jaain in connection with the bribery allegations by the US Department of Justice, though three indictments filed, were incorrect.
AGEL refuted media reports claiming that Gautam Adani, Sagar Adani, and Vneet Jaain were implicated under the FCPA, describing these allegations as “incorrect.” The Adani Group reiterated that while there are allegations of securities and wire fraud, no claims of bribery or foreign corruption have been levelled against its executives.
Meanwhile, Senior advocate and former attorney general Mukul Rohatgi came out with the evidence to justify the allegations levelled by the US authorities were incorrect and baseless. On Wednesday, Rohatgi said neither Gautam Adani nor his nephew has been accused of violating the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US prosecutors in a bribery case.
Addressing the media, the former AG clarified that while the indictment refers to allegations of Adanis bribing Indian entities to secure solar power contracts, it does not specify the method of bribery or the individuals involved.
Rohatgi said: “At the outset, I must tell you that these are my personal legal views. I have gone through this indictment, by the US court running into some 54 pages. My assessment is, and it is clear that there are five charges, or five counts. It is important to note that count one and count five are more important than others, but neither in count one, nor in five, is Adani or his nephew charged, this is like a chargesheet, which charges individuals, for doing specific acts. So count one mentions charge against certain other persons, minus the two Adanis, it includes some of their officers, and one foreign person, that is the conspiracy to violate foreign corrupt practices act (FCPA), it is similar to Prevention of Corruption Act in India, it was framed by US Parliament.”
Then there are two-three counts relating to securities and bonds, in which Adanis are named, Rohatgi said, adding that the last, and very important count, is relating to obstruction of justice, Adanis are not named, but their officers are not named, but certain other persons are named, including a foreign party. “The Adanis will respond to chargesheet. I have not seen their responses, they will also respond to SEBI. I would like to say when you look at chargesheet, you have to be specific to say so and so has done such act, has bribed. It was alleged that Adanis have bribed Indian officials in Indian entities related to supply, and purchase of power, but I do not find a single name or detail in chargesheet as who has been bribed, and in what manner he is bribed. I don’t know how one can respond to these kinds of chargesheet,” Former Attorney-General for India Mukul Rohatgi analyses the US indictment of Gautam Adani,” the former AG said.
On the allegations against Adani Group in a US Court, Rajya Sabha MP and Senior Advocate Mahesh Jethmalani said, “President Trump has said that the Department of Justice (DOJ) is a farce. This tweet, the Congress never looks at. He is a President-elect and he is making a very responsible statement. The DOJ is acting in unseemly haste. Look at the timing. They are now almost out of power. It is what is called a scorched earth policy…Perhaps they noticed that Gautam Adani complimented President Trump on his success in the presidential elections and maybe this is why…This has been going on for some time, but the haste in which it is done, the sketchiness of the indictment, the total absence of any evidence provided for the indictment shows that this is what I call a hatchet job…”
