Adani To Face Unified Trial In US Over Multi-Million Dollar Bribery Case

Months after US government indicted Indian businessman Gautam Adam in the $265 million bribery case, a US court has reportedly combined three cases to initiate trial. The court will be hearing all three cases in a unified trial.

The combined cases include the criminal case US vs. Adani and others, the civil case Securities and Exchange Commission (SEC) vs. Adani and others, and another civil case SEC vs. Cabanes concerning the other accused individuals.

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On November 20, the US Department of Justice (DOJ) had charged the business tycoon and seven others with multiple counts of fraud and lying to US-based investors about the scheme.

Adani and the others involved in the case have been accused of paying bribes worth USD 265 million (approximately Rs 2,029 crore.)

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However, the Adani Group had denied the allegations, calling them “baseless,” as conglomerate underscored their compliance with the law, asserting that the indictment relies on charges that have yet to be proven. The case had fueled the Congress allegations against Adani especially noting the existing row over alleged deal between Securities and Exchange Board of India chairman and the business tycoon.

Following the US indictment, Leader of Opposition Rahul Gandhi had urged the government to initiate investigation against Adani. The Congress leader also called for immediate arrest of Adani on charges of corruption and frauds.

Though criticisms have been emerging over India’s stand highlighting that it is mandatory on the government to examine the impact of US indictment on business within the country, it is yet to take any actions against the businessman.