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- Adani Green Says No irregularities found in us indictment after independent scrutiny
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On 24 October 2024, a case was registered against Adani in the Federal Court of New York.
No evidence has been found in the investigation of the US Justice Department on corruption charges against Adani Group Chairman Gautam Adani and nephew Sagar Adani.
Adani Green Energy said in a statement on Monday that there was no irregularity in the independent investigation of the top officials of the company including the chairman.
In fact, in November 2024, 8 people, including Adani, were accused of bribing $ 250 million, or about Rs 2,029 crore to government officials.
Fraud allegations in America
Last year, 8 people, including Adani in the US, were accused of fraud of billions of rupees. According to the US Attorney Office charge sheet, Adani’s company had incorrectly acquired the renewable energy projects in India. For this, government officials were bribed.
At the same time, in America, he collected money by lying to investors and banks. The entire case was related to Adani Group’s company Adani Green Energy Limited and another firm. On 24 October 2024, the case was registered in the Federal Court of New York.
Gautam Adani was summoned in the bribery and fraud case by the US Securities and Exchange Commission (US SEC) last month. According to The Hindu report, the Central Government has transferred summons to the sessions court of Ahmedabad on 25 February to deliver it to the Shantivan Farm House in Ahmedabad, Gautam Adani.
These summons have been sent under the Hague Treaty of 1965. In the treaty, countries associated with any case can directly request for assistance in handing over legal documents to each other’s citizens. Earlier on 23 November, the US SEC had sent summons to Adani to clarify its stand on the allegations. Gautam and Sagar Adani were summoned to respond to SEC within 21 days.
Adani has been in a lot of controversy for some time, so some big cases related to them have a look …
First controversy: Hindonburg Research accused of money laundering : January 2023. Gautam Adani’s flagship company Adani Enterprises announced to bring a follow -on public offer of 20,000 crore. The offer was to be opened on 27 January 2023, but on 24 January 2023 just before that, Hindonburg Research released a report, in which the Adani Group was charged with money laundering to share manipulation.
By January 25, the group’s shares market value decreased by about $ 12 billion (about 1 lakh crore rupees). However, Adani denied allegations of any wrongdoing. In such a situation, the Adani Group also canceled its 20,000 crore follow -on public offer. The Supreme Court formed a 6 -member committee to investigate the case and SEBI also investigated the case.
After the court’s decision, Adani Group Chairman Gautam Adani had said, ‘The court’s decision shows that truth has won. Satyamev Jayate. I am grateful to those who stood with us. Our contribution to India’s growth story will continue. Jai Hind. ‘
Second controversy: accused of selling low-grade coal in high-grade A month ago, the Financial Times claimed a report in the Organized Crime and Corruption Reporting Project, claiming that in January 2014, Adani Group bought ‘low-grade’ coal from an Indonesian company at an alleged price of $ 28 (about Rs 2360) per ton.
The report alleged that the shipment was sold to the Tamil Nadu Generation and Distribution Company (TangedCO) as high quality coal at an average price of $ 91.91 (about Rs 7750) per ton.
Adani Group was accused of rigging in the first coal import bill …
- The Financial Times alleged in one of its reports that the Adani Group imported coal at a lower rate from Indonesia and showed higher prices by rigging the bill. Due to this, the group sold the electricity generated by coal to customers at a higher price.
- The Financial Times examined the Shipment of India Import 30 Coal from Indonesia in 32 months between 2019 and 2021. The import records of all these shipments got higher prices than export declaration. The amount was increased by about ₹ 582 crore.
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The net worth of Gautam Adani, chairman of Adani Group, has reduced by 1.03 lakh crore rupees since January 1 this year. Gautam Adani’s net worth has fallen the most in the list of world’s richest people. According to the Bloomberg Billioniers Index, Adani is at number 23 with assets worth Rs 5.8 lakh crore. Read full news …
