Explainer: What does US law say about Adani’s indictment – and can he be charged in India?
The billiionaire businessman faces serious charges of bribery and fraud in the US, with potential fines and prison time.
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
The indictment of Gautam Adani and senior executives of the Adani Group by United States prosecutors centres around allegations of a $265-million bribery scheme intended to secure lucrative solar energy contracts. Claims of bribery, securities fraud, wire fraud and obstruction of justice have placed the group at the centre of an international controversy.
The Adani Group has denied the allegations, dismissing them as “baseless”.
For those unfamiliar with the US legal system, Scroll breaks down the charges as well as the likely implications of these allegations in relation to Indian law.
Allegations and Charges
US prosecutors allege that, between 2020 and 2024, Gautam Adani and his associates conspired to bribe Indian government officials to secure solar energy contracts for Adani Green Energy Ltd and another energy firm, Azure Power Global Ltd. These projects were projected to generate $2 billion in profits over 20 years.
The indictment – essentially a statement of charges, roughly equivalent to a chargesheet in Indian law – claims that the alleged conspirators misled US investors and financial institutions to raise $3 billion through loans and bonds by suggesting falsely that they were in compliance with US anti-bribery laws. The evidence presented includes text messages, spreadsheets tracking bribes and internal communications.
The Securities and Exchange Commission is central to the case. As...
