1 week Ago
New Delhi: After a US District Court in New York charged the Chairman of the Adani Group, Gautam Adani , linking him and others to an alleged bribery and fraud scheme, Congress leader Jairam Ramesh said on Thursday that it vindicated the demand that the Congress was making for a Joint Parliamentary Committee investigation into the various alleged scams. In a post on X, Jairam said, "The indictment of Gautam Adani and others by the Securities and Exchanges Commission (SEC) of the US vindicates the demand that the Indian National Congress has been making since Jan 2023 for a Joint Parliamentary Committee (JPC) investigation into the various Modani scams. The INC had asked a hundred questions in its Hum Adani ke Hain (HAHK) series bringing out the various dimensions of these scams and of the intimate nexus that has existed between the PM and his favourite businessman.
These questions have remained unanswered." The Congress leader also mentioned that the SEC's actions also cast a poor light on the manner in which its "Indian counterpart, namely SEBI", has gone about investigating alleged violations of securities and other laws by the Adani Group. "The INC reiterates its demand for a JPC in the transactions of the Adani Group, which is leading to growing monopolization in key sectors of the Indian economy, fuelling inflation, and posing huge foreign policy challenges as well, especially in our neighbourhood," Jairam Ramesh said further.
According to the U.S. Attorney's Office, Eastern District of New York, "A five-count criminal indictment was unsealed in federal court charging Gautam Adani, Sagar R.
Adani, and Vneet S. Jaain, with conspiracies to commit securities and wire fraud and substantive securities fraud for their roles in a multi-billion-dollar scheme to obtain funds from U.S.
investors and global financial institutions based on false and misleading statements." Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy for Non-Finance Executives By - CA Raja, Chartered Accountant | Financial Management Educator | Former AVP - Credit, SBI View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Marketing Future of Marketing & Branding Masterclass By - Dr.
David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Marketing Digital Marketing Masterclass by Neil Patel By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru View Program Web Development C++ Fundamentals for Absolute Beginners By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Tabnine AI Masterclass: Optimize Your Coding Efficiency By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Marketing & Sales Strategies for Startups: From Concept to Conversion By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Web Development Advanced C++ Mastery: OOPs and Template Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance AI and Generative AI for Finance By - Hariom Tatsat, Vice President- Quantitative Analytics at Barclays View Program Artificial Intelligence(AI) AI for Everyone: Understanding and Applying the Basics on Artificial Intelligence By - Ritesh Vajariya, Generative AI Expert View Program Office Productivity Microsoft Word Mastery: From Beginner to Expert By - CA Raj K Agrawal, Chartered Accountant View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Office Productivity Excel Essentials to Expert: Your Complete Guide By - Study At Home, Quality Education Anytime, Anywhere View Program The indictment also charges Ranjit Gupta and Rupesh Agarwal, former executives of a renewable-energy company with securities that had traded on the New York Stock Exchange (the U.S.
Issuer), and Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra, former employees of a Canadian institutional investor, with conspiracy to violate the Foreign Corrupt Practices Act in connection with the alleged bribery scheme. "As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and Gautam S. Adani, Sagar R.
Adani and Vneet S. Jaain lied about the bribery scheme as they sought to raise capital from U.S.
and international investors," stated United States Attorney Breon Peace. The indictment also accuses the executive of obstructing investigations by the FBI, Department of Justice (DOJ), and Securities and Exchange Commission (SEC). The US Attorney's office says that the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.
The investigation was conducted by the FBI New York's Corporate, Securities and Commodities Fraud and International Corruption Units. The government's case is being handled by the Business and Securities Fraud Section of the U.S.
Attorney's Office for the Eastern District of New York and the Criminal Division's Fraud Section. There has been no response so far from the office of Gautam Adani or others named in the indictment. (You can now subscribe to our Economic Times WhatsApp channel ).
