Gautam Adani News : Amid accusations of bribery, the White House reiterates the close connections between the US and India



The White House reaffirmed the strength of India-US relations amid bribery allegations against Gautam Adani. White House Press Secretary Karine Jean-Pierre stated, "We’re aware of these allegations, and I would have to refer you to the SEC and DOJ about the specifics."

Adani and his nephew Sagar Adani face charges for allegedly orchestrating a $265 million bribery scheme involving payments to Indian officials for favourable solar power contracts. Arrest warrants have reportedly been issued.

Despite the controversy, Jean-Pierre emphasised, "We believe that [the relationship] stands on an extremely strong foundation… we’ll continue to navigate this issue as we have with other issues." This marks the Adani Group's second major controversy after Hindenburg Research's 2023 allegations.




Gautam Adani News Live: YSR Congress denies AP link to Adani matter, terms allegations 'incorrect'

The YSR Congress Party denied claims that Andhra Pradesh was involved in the Adani case, claiming that the state's power procurement procedure complied with legal requirements. "APERC approved the 7,000 MW power procurement on November 11, 2021, and when CERC approved it, a Power Sale Agreement with SECI was signed on December 1, 2021," the party said.


"There is no direct agreement between AP DISCOMs and any entities, including the Adani group," the party clarified, adding that the transaction was mediated via SECI, a Government of India entity. The state government is not guilty of the charges made against them.


DoJ claims Adani duped investors with misleading information.

According to the US Department of Justice's indictment brief, Adani Group deceived investors by making false claims to the NSE and BSE, two Indian stock exchanges. In accordance with Sebi's listing and disclosure guidelines

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According to the US Department of Justice's indictment file, a news article stating that the US government was investigating Gautam Adani and his organization for possible bribery was published in March 2024. Both the FBI inquiry and the grand jury probe were known at the time to Gautam Adani and his nephew Sagar Adani. This came after the group's top executives were subpoenaed. According to the US DoJ report, the US investigators also had the authority to search Sagar Adani's electronic devices, which gave them the ability to seize evidence of illegal activity by Gautam Adani and others.


The group told the news item that they were "not aware of any inquiry against" the US government, even though they were aware of the probes.


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