A petition has been filed in the Supreme Court, urging the inclusion of allegations made by the United States Department of Justice (DOJ) against Gautam Adani and executives of the Adani Group. The petition seeks an independent investigation into these bribery claims, which are linked to ongoing scrutiny of the Adani conglomerate.
The application, filed by Advocate Vishal Tiwari, connects to a previous petition urging an investigation into allegations by Hindenburg Research against the Adani Group. It highlights recent allegations from the US Department of Justice (DOJ) and a complaint by the US Securities and Exchange Commission (SEC) accusing the Adani conglomerate of serious financial misconduct. Tiwari argued that these grave charges demand an urgent investigation by Indian authorities to protect both national interests and investor confidence. The applicant further pointed out that the Securities and Exchange Board of India (SEBI) has yet to conclude its investigation into alleged short-selling activities by Adani companies, as mandated by the Supreme Court in January 2024. Emphasizing the need for timely and transparent reporting, Tiwari stressed that addressing these concerns will be vital to restoring public trust, especially with potential overlaps between SEBI’s investigation and the US allegations.
The Application addresses the Supreme Court registry’s earlier refusal to process a similar plea, citing the absence of a fixed deadline in the Court’s January 3 order. That order had recommended the SEBI investigation be completed “preferably” within three months. The US DOJ recently charged Adani executives, including Gautam Adani and Sagar Adani, with orchestrating a multi-million-dollar bribery scheme to influence Indian government officials. The allegations involve violations of the US Foreign Corrupt Practices Act (FCPA) and the Foreign Extortion Prevention Act (FEPA), connected to the forced purchase of solar power from an Adani subsidiary.
The plea now awaits the Supreme Court’s consideration, as it calls for action to ensure transparency and accountability regarding these international and domestic allegations.
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