After the Adani Group issued a clarification in the US indictment saga, senior Supreme Court advocate and former Attorney General of India, Mukul Rohatgi has spoken in favour of Adanis in guided and chosen words.
No Named In Crucial Counts
Earlier, in a statement, the Adani group claimed that neither Gautam Adani, Sagar Adani, nor Vneet Jaain have been named in the crucial 2 out of the 5 counts in the indictment by the US Federal Court.
In their statement, published through an exchange filing, the company said, " Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have been charged with violation(s) of the U.S. Foreign Corrupt Practices Act (“FCPA”) in the indictment. Such statements are incorrect. Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC."
The group claimed that they have not been charged in the crucial counts, however, they did admit that the Adanis have been named in other 3 of the 5 charges.
Mukul Rohatgi Reacts
Reflecting this statement and expressing his support in guided words, former AG Rohatgi, while speaking to the media highlighted the counts and said, "On the allegations against Adani Group in a US Court, former Attorney General and Senior Counsel Mukul Rohatgi says, "There is an indictment and the Adanis will have to respond to it."
He further added, " I have given you only my preliminary views in regard to count number 1 and count number 5. The Adanis will take legal consultation in the US...I told you about 5 charges. Charge 1 and charge 5 are the more important ones and in neither of them, you will find the name Adani."
What Are The Counts?
Through this, the group has tried to take the heat of the Adanis in these allegations.
Here, the five counts in question are as follows:
The first count is on Conspiracy to Violate FCPA or Foreign Corrupt Practices Act.
The Second count is with regards to Securities Fraud Conspiracy.
The Third count is on Wire Fraud Conspiracy.
The Fourth count is on Securities Fraud- the 2021 144A Bond.
The Fifth Count is on Conspiracy to Obstruct Justice.
