US Bribery Case Against Gautam Adani Could Be Withdrawn, Says Indian-American Attorney
New York: The ongoing USD 265 million bribery case against Indian billionaire Gautam Adani may be withdrawn if the charges are deemed “unworthy or defective,” according to prominent Indian-American attorney Ravi Batra. In an interview with PTI, Batra explained that President-elect Donald Trump’s administration, which is set to take office on January 20, 2025, has the power to “neuter any prosecution not based in good faith” as part of what Trump has described as “lawfare” — the use of the law to selectively target opponents.
Batra emphasized that the new Justice Department and Securities and Exchange Commission (SEC) under Trump could choose to withdraw both criminal and civil charges against Adani if they are found to lack merit. He suggested that Adani could request the Indian government to raise this issue with the incoming U.S. administration. Batra also noted the principle of “prosecutorial discretion,” which allows the executive branch, including the President, to influence prosecutorial actions and foreign policy.
The case against Adani, his nephew Sagar Adani, and Vneet Jaain involves charges of securities and wire fraud for allegedly orchestrating a multi-billion-dollar scheme to defraud U.S. investors and financial institutions. U.S. prosecutors allege that the Adani group paid bribes to Indian government officials and misled investors to raise funds, with accusations extending to the manipulation of stock markets and obstruction of justice. A parallel civil case by the SEC involves the Adani Group and its alleged involvement in the bribery scheme to benefit from India’s solar energy projects.
Batra also raised the issue of “extraterritoriality” — the application of U.S. laws to individuals and entities not based in the U.S., highlighting that the individuals involved in the case are not U.S. citizens and the alleged actions took place outside U.S. borders.
The bribery allegations come amidst a broader investigation into the Adani Group’s business practices, which has attracted significant media attention. The SEC charges suggest the scheme was designed to benefit Adani’s renewable energy companies, Adani Green and Azure Power Global Ltd., both of which raised substantial funds from U.S. investors.
As the political landscape in the U.S. shifts with Trump’s second term, significant changes in federal appointments are expected. Gary Gensler, the current SEC Chairman, will step down on January 20, 2025, the same day Trump assumes office, and U.S. Attorney Damian Williams has already announced his resignation. Trump’s new appointments, including Jay Clayton for U.S. Attorney for the Southern District of New York, could further reshape the handling of this and other ongoing cases.
The case remains closely watched as it could have significant implications for Adani’s business empire and its future in international markets, especially with the upcoming changes in the U.S. government.
