New Delhi: A New York court has reportedly consolidated three ongoing cases against Adani Group chairperson Gautam Adani, who was indicted on bribery charges in November 2024.
The Eastern District of New York court on November 20, 2024, charged Adani and seven others with multiple counts of fraud and making false statements to US-based investors, report said.
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The indictment alleges that senior executives of an Indian renewable energy company, an American company, and a Canadian investor were involved in a $265 million (~?2,272 crore) bribery scheme.
They allegedly bribed Indian government officials to secure solar energy supply contracts while misrepresenting their anti-bribery practices to investors. The indictment further alleges that they obstructed a US government investigation into the scheme.
The court decided to combine the criminal case against Adani and others, the civil case brought by the Securities and Exchange Commission (SEC) against Adani, and the other civil case brought by the SEC against the other accused.
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The court’s decision was reportedly based on the similar nature of the transactions and allegations involved in these cases.
This consolidation aims to streamline the proceedings by avoiding conflicting schedules and improving trial efficiency. District Judge Nicholas G Garaufis is reportedly assigned to hear the consolidated trial.
The Adani Group has vehemently denied all allegations, labeling them as “baseless.”