Our Special Correspondent
New Delhi: Leader of Opposition in the Lok Sabha Rahul Gandhi has on Thursday demanded immediate arrest of Gautam Adani after the billionaire was charged in the US for alleged bribery and fraud. On Wednesday a US District Court in New York indicted Adani Group Chairman Gautam Adani and several senior business executives for their supposed roles in a multi-billion-dollar bribery and investor fraud scheme.
Addressing the media in the national capital a few hours ago, after the US prosecutors charged Adani and associates for allegedly paying USD 250 million bribes to Indian officials, Mr Gandhi said that it was “now pretty clear and established in the US that the Adani has broken Indian as well as American laws.”
Taking a dig at Prime Minister Narendra Modi’s ‘Ek hain to safe hain’ slogan, Mr Gandhi said that as long as the prime minister and Adani are together, they are safe in India and no action will be contemplated against the billionaire businessman.
Mr Gandhi further said that Adani should be arrested immediately and interrogated, and his “protector” . He also demanded Sebi chairperson Madhabi Puri Buch should be removed from her post and criminal investigation needs to investigate against her.
Gautam Adani, has been charged with securities fraud and conspiracy to commit securities and wire fraud.
According to the US Justice Department (DOJ) authorities Adani and seven other senior business executives offered over $250 million (about Rs 2,100 crore) in bribes to Indian government officials to secure solar energy contracts.
According to media reports “the case involves a lucrative arrangement for Adani Green Energy Ltd. and another firm to sell 12 gigawatts of solar power to the Indian government—enough to light millions of homes and businesses. These contracts were projected to generate more than $2 billion in profits after tax over an approximately 20-year period.”
In another development, the US Securities and Exchange Commission (SEC) accused Gautam Adani and two co-defendants of” violating anti-fraud provisions of US securities laws. The regulator is seeking monetary penalties and other sanctions. Both cases were filed in federal court in Brooklyn.”
Sanjay Wadhwa, acting director of the SEC’s Enforcement Division has said “Gautam and Sagar Adani are accused of persuading investors to buy their company’s bonds by misrepresenting and not only that Adani Green had a robust anti-bribery compliance programme but also that the company’s senior management had not and would not pay or promise to pay bribes.”
However, a spokesperson for the Adani Group has dismissed the allegations by the DOJ and SEC against Adani Green directors as baseless. “As stated by the US Department of Justice itself, ‘the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty’.
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