The Indian government views the developments relating to the indictment of industrialist Gautam Adani and others linked to the Adani Group in the United States as a legal matter involving private companies, individuals and the US Department of Justice, the Ministry of External Affairs said on Friday.
On November 20, the United States Attorney’s office for the Eastern District in New York indicted Gautam Adani, who is the chairperson of the Adani Group, in a $265 million bribery and fraud case.
New Delhi was not informed of the development in advance by Washington, ministry spokesperson Randhir Jaiswal told reporters.
“Obviously, there are established procedures and legal avenues in such cases, which we believe would be followed…” Jaiswal said. “We have not been informed in advance on the issue.”
New Delhi and Washington have not discussed the matter, he added.
Jaiswal said the Indian government had not received requests to serve summonses or arrest warrants in the matter from its United States counterpart. Such requests by foreign governments are part of mutual legal assistance and are examined on merits, he added.
“This is a matter that pertains to private individuals and private entities,” Jaiswal said. “The government of India, we are not part of it legally in any manner at this point in time.”
The US Department of Justice has alleged that Adani Group executives participated in a scheme to bribe officials in India for solar energy contracts, then misrepresented the company’s anti-bribery practices to investors in the United States. The details of the alleged bribes were concealed to secure financing, the US Department of Justice has claimed.
The Adani Group has denied the allegations and vowed legal action.
While the indictment document outlines conspiracy to obstruct justice and Foreign Corrupt Practices Act violations, Adani and his executives were not charged on these counts.
The indictment document does, however, name Adani, Sagar and Cyril Cabanes of Azure Power Global in what it describes as a “massive bribery scheme”.
On Wednesday, the Adani Group said that Gautam Adani and his nephew Sagar Adani had been charged in the United States for securities fraud, not bribery.
The charges have hurt the group’s market value with shares falling by $54 billion since the news broke.
Credit rating agency Moody’s on Tuesday downgraded the outlook for Adani firms to “negative” and partner TotalEnergies has paused investments in the group citing legal uncertainties.
Also read:
- What does US law say about Adani’s indictment – and can he be charged in India?
- Adani US indictment: The Indian solar deals for which Rs 2,029 crore was allegedly paid in bribes
- Gautam Adani met ex-Andhra CM Jagan Reddy to offer $200 million bribe, alleges US securities panel
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