Senior counsel and former Attorney General of India, Mukul Rohatgi, stated on Wednesday that industrialist Gautam Adani and his nephew Sagar Adani have not been implicated in the critical charges of bribery or obstruction of justice in the indictment filed by U.S. prosecutors.
The Adani Group Energy Limited (AGEL) had earlier refuted bribery allegations made by the U.S. Department of Justice (DoJ) and the Securities and Exchange Commission (SEC) against Gautam Adani, Sagar Adani, and Adani Green Energy’s MD and CEO, Vneet Jaain. In its stock exchange filing, AGEL dismissed media reports on these allegations as “incorrect.”
Rohatgi, sharing his legal assessment, noted: “I have reviewed the indictment by the U.S. court. There are five counts in the document, but neither Gautam Adani nor Sagar Adani is charged under Count One or Count Five, which are the most significant.”
He clarified that his observations were personal and not as a spokesperson for the Adani Group, though he has represented them in various cases.
The senior lawyer explained that Count One alleges a conspiracy to violate the Foreign Corrupt Practices Act (FCPA), akin to India’s Prevention of Corruption Act. “This count is against certain individuals, excluding the Adanis. While it includes some officers associated with the group and one foreign individual, Gautam Adani and Sagar Adani are not named,” he said.
Counts Two through Four pertain to securities and bonds, where the Adanis and others are mentioned. However, Rohatgi emphasized the lack of specificity in the allegations.
“The chargesheet claims that these individuals, including the Adanis, bribed Indian officials in power-related transactions. Yet, it provides no details about who was bribed, how the bribes were conducted, or which department was involved. It is entirely silent on these critical aspects,” he remarked.
On Count Five, which addresses obstruction of justice, Rohatgi reiterated that neither Gautam Adani nor Sagar Adani was named. He likened the U.S. indictment to a charge sheet under Indian law, underscoring the necessity for precise accusations.
AGEL’s exchange filing corroborated Rohatgi’s views, confirming that the indictment’s Count One, “Conspiracy to Violate the FCPA,” and Count Five, “Conspiracy to Obstruct Justice,” do not mention Gautam Adani, Sagar Adani, or Vneet Jaain.
Rohatgi concluded by questioning the credibility of the allegations, citing the lack of substantial evidence or identifiable details in the chargesheet. “In a proper chargesheet, one expects clarity on who committed the act and how. This indictment fails to provide such specifics,” he added.
The Adani Group continues to categorically deny any involvement in the alleged misconduct.
