Important order of US court in bribery and fraud case of Rs 2000 crore against Gautam Adani

US Court on Adani Bribery Case: The hearing and decision of the ongoing criminal and bribery case against Adani Group in America will be presented before a single judge. The US Securities and Exchange Commission as well as the Eastern District Court of New York have ordered the Adani Group case to be brought before a single judge for an effective and precise decision.

Adani Green Energy board members and promoters of Adani Group have been accused of taking bribes worth $265 million (Rs 2000 crore). A case of fraud against American investors has also been registered. Both civil and criminal cases have been ordered to be heard before the same judge. So that both the cases are not adversely affected on different dates and effective decisions can be taken.

the judge will give his verdict

US District Judge Garoufis will handle the adjudication and hearing of civil and criminal cases against Adani Group. But the hearing of both the cases will be separate. The decision and order of both the cases will also be different. The US Justice Department has clarified that the two cases will not be heard or decided jointly.

Case against Adani Group including Gautam Adani in November

In November last year, Adani Group Chairman Gautam Adani, his nephew, was accused of fraud and paying $265 million in bribes to some Indian government officials to secure a new contract for Adani Green Energy. However, Adani Group rejected all the allegations as baseless.

N Chandrababu Naidu denies action

Andhra Pradesh was also named in bribery allegations of $265 million. However, state Chief Minister N. Chandrababu Naidu clarified on this issue last Thursday and said that no evidence has been found of the allegations made against Adani Group. Therefore no action will be taken. Additionally, US Attorney Brion Peace, who filed charges against the Adani Group, resigned a few weeks ago.

Adani Group shares fall

After the US court action against Adani Group, shares of Adani Enterprises have fallen by 8 percent since November 19. Adani Green Energy fell 26 percent.