Recent allegations involving the Adani Group in a U.S. court indictment have brought prominent figures to take a stand against the allegations. These names included former Attorney General and senior advocate Mukul Rohatgi, along with senior advocate and Rajya Sabha MP Mahesh Jethmalani. The two have clarified the legal and factual context surrounding the charges against the Adani group. While the two advocates emphasized that neither Gautam Adani nor his nephew Sagar Adani is named in the key allegations, they expressed their views on the broader implications of the indictment.
Legal Dissection by Mukul Rohatgi
Mukul Rohatgi, who has represented the Adani Group in the past, analyzed the 54-page indictment, which contains five counts. His focus was primarily on Counts 1 and 5, which he described as the most critical allegations.
Delhi: Former Attorney General and Senior Advocate Mukul Rohatgi, says, “I want to clarify that these are my personal legal views. I am not a spokesperson for the Adani Group. However, I have represented the Adani Group in various cases. I have reviewed the U.S. court indictment,… pic.twitter.com/E5MNu985JG
— IANS (@ians_india) November 27, 2024
Count 1: No Direct Accusations Against the Adani Family
Count 1 pertains to a conspiracy to violate the Foreign Corrupt Practices Act (FCPA), a U.S. law comparable to India’s Prevention of Corruption Act. While certain officers and a foreign party are implicated, Rohatgi categorically stated, “Importantly, neither Mr. Adani nor his nephew has been named in these two counts.”
Count 5: Obstruction of Justice Allegations
Similarly, Count 5 involves obstruction of justice. Rohatgi emphasized that the Adani family members and their close associates were not mentioned in this serious charge.
Allegations Critiqued for Vagueness
Rohatgi questioned the specificity of the indictment, pointing out that critical details were absent:
- Identities of Alleged Bribe Recipients: The indictment fails to specify the individuals or entities who allegedly received bribes.
- Details of Bribes: It does not describe the manner or extent of the alleged bribes.
- Involved Officials or Departments: There is no mention of the specific government officials or departments implicated.
“The charge sheet is silent on these essential points, making it unclear how one should respond,” Rohatgi noted.
Adani Group’s Anticipated Legal Response
Rohatgi expressed confidence that the Adani Group would consult with American legal experts to respond appropriately. He remarked, “I am sure the Adani Group will seek legal advice, including from American lawyers, and respond accordingly.”
Rohatgi also addressed media reports linking Gautam Adani and Sagar Adani to the allegations, which he described as misleading. He clarified, “In summary, I want to emphasize that Mr. Adani and his nephew have not been named in either Count 1 or Count 5, despite some media reports suggesting otherwise.”
He reiterated that his comments were personal legal observations and not representative of the Adani Group’s official stance.
Additional Insights by Mahesh Jethmalani
Senior advocate and Rajya Sabha MP Mahesh Jethmalani echoed similar sentiments. He highlighted that the indictment mentions a “conspiracy to bribe” but does not substantiate claims of actual bribery.
Jethmalani clarified, “The whole issue is about the issuing of bonds by Adani Green. The alleged violation is that bonds were issued without informing bondholders that there were violations in India.”
He further pointed out that the U.S. court indictment does not provide evidence of bribery within India.
Jethmalani also questioned the timing of the indictment, which coincided with the approach of India’s winter session of Parliament. He dismissed calls for a Joint Parliamentary Committee (JPC) probe, stating, “There is not a single piece of evidence against Adani. The US court also says no bribe was handed over. It talks about conspiracy and intent. All the noise the Congress is making is ill-conceived.”
Allegations of Securities and Wire Fraud
While neither Gautam Adani nor Sagar Adani is named in the critical charges, the indictment does allege securities and wire fraud. The U.S. prosecutors claim that between 2020 and 2024, the Adani Group concealed key facts from U.S. banks and investors while raising billions for solar energy projects.
Earlier, Adani Green stated that no allegations of bribery or foreign corruption were made against its senior executives, including Gautam Adani, Sagar Adani, and Vineet Jaain.
