US regulator seeks India’s help in serving complaint to Gautam Adani
New Delhi: The United States Securities and Exchange Commission (SEC) has sought assistance from the Indian government to serve a complaint to Adani Group Chairman Gautam Adani and his nephew Sagar Adani in an alleged $265 million bribery and fraud case, Reuters reported on Wednesday.
The SEC informed a district court in New York that it was attempting to serve the complaint and had requested help from India’s law ministry.
In November, the United States Attorney’s Office for the Eastern District of New York indicted Gautam Adani in connection with the case. The US Department of Justice accused executives of the conglomerate of bribing Indian officials for solar energy contracts and misrepresenting anti-bribery practices to US investors. It alleged that details of the bribes were concealed to secure financing.
The Adani Group has denied the allegations and announced plans for legal action. In December, Gautam Adani blamed the media for what he called "incorrect and reckless reporting" on the issue.
While the indictment document outlines conspiracy to obstruct justice and violations of the Foreign Corrupt Practices Act (FCPA), Adani and his executives were not formally charged under these counts. However, it names Gautam Adani, Sagar Adani, and Cyril Cabanes of Azure Power Global in connection with the alleged bribery scheme.
On November 27, the Adani Group clarified in a stock exchange filing that Gautam Adani and Sagar Adani had been charged with securities fraud, not bribery. The charges led to a significant decline in the group’s market value, with shares losing $54 billion at the time.
On November 29, the Union government stated that it considered the matter a legal issue involving private companies, individuals, and the US Justice Department.
Meanwhile, on February 10, US President Donald Trump signed an executive order pausing prosecutions of Americans accused of bribing foreign officials for business deals. The order temporarily halts enforcement of the FCPA and directs US Attorney General Pam Bondi to review the law’s enforcement guidelines.
The move is seen as a potential relief for the Adani Group, as it could delay or weaken ongoing investigations against its executives.
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Will vacate one of two assembly seats won in 10 days: BJP''s Suvendu
Kolkata (PTI): BJP leader Suvendu Adhikari, who defeated West Bengal Chief Minister Mamata Banerjee in Bhabanipur and secured Nandigram for three times in a row in the recent assembly polls, said on Wednesday that he would vacate one of the two constituencies within 10 days.
Adhikari also asserted that the party's central leadership would decide which constituency he would retain.
"I will vacate one seat within 10 days. The party will decide which one I retain. I will not forget my responsibility towards the people of Bhabanipur and Nandigram," he said.
Adhikari on Monday defeated Banerjee in Bhabanipur by over 15,000 votes, puncturing what was long seen as her safest political refuge and delivering a decisive psychological blow to the TMC, amid a sweeping BJP surge across West Bengal.
Addressing party workers and supporters in Nandigram in Purba Medinipur district, the BJP leader appealed to them not to take out victory processions immediately and instead maintain peace.
"Do not take out victory rallies now. Maintain peace and discipline. Celebrate after May 9, after taking permission," he told party workers.
State BJP president Samik Bhattacharya on Wednesday announced that the oath-taking ceremony of the new government will be held on May 9 at Brigade Parade Ground.
Referring to alleged attacks on BJP workers during the TMC regime, Adhikari said he would not forget the “atrocities" faced by them and assured them of taking appropriate action against perpetrators through legal processes.
"I was part of the 2011 ‘poribartan’ (change), and now I am part of the real change. I offer my gratitude to the people of Nandigram," Adhikari said.
He was referring to the TMC's victory in 2011 when the Mamata Banerjee party dismantled the 34-year Left Front regime in the state.
Adhikari offered prayers at a Hanuman statue in Nandigram and remembered the BJP workers, who had died in political violence.
"We will work in such a way that the BJP government in Bengal stays for 100 years," he said, expressing hope that the BJP’s vote share in the state would rise from the current 46 per cent to 60 per cent in future elections.
The BJP leader also assured residents of Nandigram of improved drinking water supply and better hospital and education infrastructure.
