2 weeks Ago By NDTV Profit Desk
Adani Group founder Gautam Adani, Adani Green Energy Ltd. Executive Director Sagar Adani, and Managing Director and Chief Executive Officer Vneet Jain have not been named in the bribery charges in the indictment filed by the US Justice Department, a statement by Adani Green read on Wednesday. The company has further refuted news reports that said that Adani officials have been charged with bribery charges under the US Foreign Corrupt Practices Act.
Azure Power Global Ltd. and CDPQ's senior officials are named in the bribery charges under the US FCPA provisions, Adani Green Energy cited the latest filing from the US Department of Justice. The senior executives of Azure Power and CDPQ conspired to obstruct the US government's investigations into the bribery scheme, charged the Department of Justice, claimed the indictment.
"To my mind, if it is only these three charges, which are security fraud, conspiracy, wire fraud conspiracy, and securities fraud all three are allegations, the impact of that is much much lesser than the impact of FCPA. So from the legal perspective these three charges have lesser impact than the charges of FCPA," said Sanjay Asher, a senior partner to Crawford Bayley. "It also means that Adani group members.
.. are not involved in any foreign corrupt practices therefore this is good news for the Adani group and obviously other charges have to be proved too because they are simply allegations and Adani group has certainly said that they are not involved and these are wrongly applied to them so I think the matter should not be more clear now," said HP Ranina, lawyer, Supreme Court.
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