Adani Group to face joint trial over USD 265 million bribery allegations in US Court

In a significant legal development, a New York court has decided to combine three ongoing cases involving industrialist Gautam Adani and others, related to bribery allegations amounting to USD 265 million.

The court ruled that these cases will be heard together in a unified trial.

The decision follows the court's observation that the cases arise from similar allegations and transactions. The combined cases include the criminal case US vs. Adani and others, the civil case Securities and Exchange Commission (SEC) vs. Adani and others, and another civil case SEC vs. Cabanes concerning the other accused individuals.

The court's move is aimed at enhancing judicial efficiency and preventing conflicting schedules. All cases will be assigned to District Judge Nicholas G. Garaufis, who is already overseeing the criminal case against Adani. The court's administrative team has been tasked with the reassignment process.

Adani and the others involved are accused of paying bribes worth USD 265 million (approximately Rs 2,029 crore) to secure solar energy contracts with state electricity distribution companies.

Previous allegations by US prosecutors suggested that these payments were concealed from US banks and investors from whom Adani Group raised funds for the projects.

The Adani Group has vehemently denied the allegations, calling them "baseless." A spokesperson for the company emphasized their compliance with the law, asserting that the indictment relies on charges that have yet to be proven, and that the defendants are presumed innocent until proven guilty.