Adanis Not Named in Violation of FCPA, Says Former AG Mukul Rohatgi

Former Attorney General of India Mukul Rohatgi on Wednesday said Adani Group chairman Gautam Adani and his nephew Sagar Adani are not named in three out of the five counts mentioned in the US indictment order. While addressing a press conference he said that both the Adanis and their officials are not mentioned in counts one and five, which are related to charges of conspiracy to violate the foreign corrupt practices act (FCPA) and obstruction of justice in the US. 

“Count 1 and count 5 are more important than the others, but in neither are Adani and his nephew charged. Count 1 is against certain other persons minus the two Adanis," said Rohatgi.

Rohatgi mentioned that views shared by him are personal and the Adanis and others will respond to the charges in the manner they desire. 

Clarification by the former attorney general of India has come just after the Adani Green rejected the allegations that the directors of the company, including Gautam Adani, Sagar Adani and Vneet Jaain have been charged with any violation of the US Foreign Corrupt Practices Act (FCPA). The company, however, in the same statement released on the national stock exchange (NSE) on November 27, said that these directors are facing charges related to alleged securities and wire fraud. 

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“Media articles which state that certain of our directors namely Mr. Gautam Adani, Sagar Adani and Vneet Jaain have been charged with violations(s) of the US (FCPA) in the indictment. Such statement are incorrect,” said the company in the statement. “These directors have been charged on three counts in the criminal indictment namely (i) alleged securities fraud conspiracy, (ii) alleged wire fraud conspiracy, and (iii) alleged securities fraud,” the company added.