No clarity on who was bribed: Former AG Mukul Rohatgi on Adani-US SEC row
.webp)
Senior advocate and former attorney general Mukul Rohatgi stated on November 27 that 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, Rohatgi 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.
Speaking in his personal capacity, Rohatgi said: “Count One and Count Five are more important than the others, but neither includes charges against Adani or his nephew. Count One pertains to certain other persons, excluding the two Adanis.”
According to Rohatgi, Count One alleges a conspiracy to violate the FCPA, but Gautam Adani and Sagar Adani are not named in this count. He further noted that Count Five, concerning obstruction of justice, also does not include the Adanis or any of their officials.
Lack of specificity in chargesheet
Rohatgi emphasised that the chargesheet lacks crucial details, such as naming the individuals allegedly bribed or the methods used.
“You must specifically state that so-and-so committed such acts and bribed certain individuals. This chargesheet alleges that the Adanis bribed Indian entities in connection with power purchases, but it does not contain a single name or detail about who was bribed or how,” he said.
He questioned the practicality of responding to such vague allegations: “I don’t know how one can respond to this kind of chargesheet.”
Adani Group denies bribery allegations
Earlier, Adani Green Energy Ltd (AGEL) stated in a regulatory filing that Gautam Adani, Sagar Adani, and senior executive Vneet Jaain had been cleared of all bribery allegations by the US Department of Justice, though three indictments were filed.
AGEL also 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.
Other Latest News
.webp)
For Samsung Group, this has been a year of milestones. First, a rare public apology from its flagship Samsung Electronics Co., followed by a bumper share buyback. And now, South Korea’s biggest conglomerate has named a woman that’s not member of its founding family as chief executive officer of a group company for the first time in its 86 years.
In a country where women business leaders have long struggled to make inroads into corporate boards and C-suites, the appointment of Kim Kyung-Ah as president and CEO of Samsung Bioepis Co. is a story likely to inspire the next generation of executives.
.webp)
As cyclone 'Fengal' approaches Tamil Nadu, several parts of the capital Chennai will face a five-our power cut on Wednesday and Thursday, i.e., November 27 and 28 due to the maintenance work.
The power cut in Chennai will take place between 9 a.m. to 2 p.m., said a report by dtnext.in, adding that it may be restored if the maintenance work is completed.
.webp)
Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if US President-elect Donald Trump imposes 25 per cent import tariffs on crude imports from the two countries, traders and analysts said.
Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico even as the US oil industry has warned the policy could hurt consumers, industry and national security.
.webp)
Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
Sources said Priyanka Gandhi is likely to take oath in the Lok Sabha on Thursday.
Leaders from Wayanad handed over the election certificate of the Wayanad parliamentary by-election to Priyanka Gandhi and conveyed their best wishes.
.webp)
The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
.webp)
.webp)
.webp)
.webp)
.webp)
