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The American Securities and Exchange Commission (US SEC) has summoned Gautam Adani in the US in case of bribery and fraud. The central government has transferred this summons to the sessions court of Ahmedabad, so that it can be transported to the address of Gautam Adani.
According to The Hindu report, the Ministry of Law and Justice transferred summons to Ahmedabad court on 25 February. 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.
Fraud allegations in America
Last year, 8 people, including Adani in the US, were accused of fraud of billions of rupees. According to the Attorney Office charge sheet, Adani’s company had incorrectly acquired the renewable energy projects in India. For this, Adani was also accused of paying a bribe of $ 250 million, or about Rs 2,029 crore to government officials.
Apart from this, the accused collected money by lying to American 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.
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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Adani’s net worth falling ₹ 1.03 lakh crore in the new year: It is the highest after Ilon Musk, the max of Musk reduced to ₹ 3.05 lakh crore
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.
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