Mahesh Jethmalani on Adani Case: No Allegation of Bribery in India
Senior lawyer and former Rajya Sabha MP Mahesh Jethmalani has strongly criticized the indictment against the Adani Group in the United States, stating that there is no allegation of bribery in India and the case is speculative and lacks evidence.
Adani GroupMahesh JethmalaniDoj IndictmentBriberyBond IssuancesReal Estate NewsNov 27, 2024
“There is no allegation of bribery in India. The charge only speaks of a conspiracy to bribe, with no tangible proof,” Jethmalani stated emphatically. He further explained that the case primarily revolves around bond issuances by Adani Green Energy. According to the DOJ, bondholders were not informed of potential legal violations. However, Jethmalani argued, “This is an inference, not evidence. No infraction of Indian law is cited in the indictment.”
The DOJ's indictment also accuses Azure Power Global Ltd. and CDPQ officials of conspiring to obstruct justice and engaging in bribery schemes. However, it is important to note that the Adani Group and its officers are not named in these specific counts. The charges are directed at other foreign entities, a crucial point clarified by Attorney General Rohatgi.
Jethmalani's stance is rooted in the legal principles of evidence and the absence of direct allegations of bribery within India. He emphasizes that the DOJ's claims are speculative and do not hold up under rigorous legal scrutiny. The broader implications of this case have significant ramifications for international business and investment, particularly in the renewable energy sector.
The Adani Group, one of India's largest conglomerates, has been involved in various sectors including ports, power, airports, and renewable energy. The allegations, though primarily focused on bond issuances and potential legal violations, have caused a stir in the business community and have led to heightened scrutiny of corporate governance practices.
As the legal battle continues, Jethmalani's defense of the Adani Group highlights the importance of due process and the need for robust evidence to support such serious allegations. The case remains under intense scrutiny, with stakeholders eagerly awaiting further developments.
Frequently Asked Questions
What is the main criticism of the DOJ indictment against the Adani Group by Mahesh Jethmalani?
Mahesh Jethmalani criticizes the DOJ indictment as speculative and lacking concrete evidence. He specifically states that there is no allegation of bribery in India and the charges only speak of a conspiracy to bribe without tangible proof.
What specific part of the case does the DOJ allegation revolve around?
The DOJ's allegation revolves around bond issuances by Adani Green Energy, claiming that bondholders were not informed of potential legal violations. However, Mahesh Jethmalani argues that this is an inference, not evidence, and no infraction of Indian law is cited.
Are any Adani Group officials named in the DOJ indictment for bribery?
No, neither the Adanis nor their officers are named in the counts related to bribery. The charges pertain to other foreign entities, as clarified by Attorney General Rohatgi.
What are the broader implications of this case for the business community?
The broader implications of this case include heightened scrutiny of corporate governance practices, particularly in the renewable energy sector. It also highlights the importance of due process and the need for robust evidence in legal proceedings.
What is the Adani Group's primary business focus?
The Adani Group is one of India's largest conglomerates, involved in various sectors including ports, power, airports, and renewable energy. The allegations, primarily focused on bond issuances and potential legal violations, have caused significant attention in the business community.
Related News Articles
PBB's Q2 2024 Profits Plummet 74% Amid US Real Estate Crisis
PBB's profits fell sharply due to its exposure to the struggling US commercial real estate market, hit by rising interest rates, falling property values, and high office vacancies.
Gurgaon Real Estate Boom: How Dwarka Expressway is Transforming the Delhi-NCR Market
The Dwarka Expressway is rapidly emerging as a premier choice for investors in the Delhi-NCR real estate sector. Its strategic importance in national infrastructure plans has significantly driven economic growth and transformed Gurugram’s skyline.
Airbound, Mushin Innovative Labs, and OnePlay: A Deep Dive into their Funding Rounds
Explore the recent funding rounds of Airbound, Mushin Innovative Labs, and OnePlay, and understand how these investments are shaping the future of their respective industries.
Himachal RERA Rejects Late Homebuyer's Structural Defect Complaint
The Himachal Pradesh Real Estate Regulatory Authority (Himachal RERA) has rejected a homebuyer's complaint regarding structural defects in a flat due to the complaint being filed more than ten years after taking possession. However, the Authority has dire
REITs: The Safest Bet for Real Estate Investment
Industry experts, including Tata Realty CEO Sanjay Dutt, have highlighted Kochi as one of the most promising cities in India's real estate sector. However, they strongly recommend REITs as the safest way to invest in real estate.
How Technology is Revolutionizing High-Rise Construction in India
India’s real estate sector is undergoing a significant technological transformation, particularly in the construction of high-rise buildings. This shift is crucial for supporting the nation’s ambitious goal of achieving net zero emissions by 2070. With th