The Gautam Adani-led Adani Group has engaged two leading US law firms, Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP, to represent the company in a US indictment case. The firms, known for their expertise in complex legal disputes, will handle the group’s defence in court. This development comes amid growing scrutiny of the company’s international operations. The legal strategy aims to address the charges effectively and safeguard the group’s interests.
The New York court has merged three cases against Indian industrialist Gautam Adani into one trial. These include a criminal case and two civil cases involving allegations of bribing USD 265 million for solar energy contracts. District Judge Nicholas G. Garaufis will oversee the combined trial. The Adani Group denies these allegations.
In 2024, India’s Supreme Court dealt with numerous landmark rulings, focusing on personal liberty, places of worship disputes, and electoral reforms. Chief Justice Sanjiv Khanna emphasized efficiency, reforming case backlogs. Notable cases included prohibitions on religious site surveys, striking down electoral bonds, and addressing environmental pollution. The court’s decisions significantly influenced legal frameworks and societal issues.
Yesterday, On 9th December, YS Jagan Mohan Reddy filed a Rs.100 crore defamation suit against various media outlets for allegedly publishing false information linking him to the Adani Group’s indictment. The Delhi High Court has taken notice and issued summons. Reddy seeks an injunction, removal of articles, and an apology, highlighting the need for accountable journalism.
SECI banned Reliance Power and Reliance NU BESS from its tenders for three years due to alleged submission of fake documents in a June 1,000 MW/2000 MWh BESS project tender. The Delhi High Court granted a stay on the ban, allowing Reliance Power to challenge the decision, while SECI faces scrutiny over its processes.
Today, On 27th November, Gautam Adani and several executives from Adani Green faced allegations of securities law violations related to a bribery scheme in India. The U.S. SEC’s complaints and criminal indictments indicate serious legal challenges for the Adani Group, leading to significant financial losses and declines in stock prices for Adani Green.
The Adani Group Energy Limited denied bribery allegations from U.S. authorities against Gautam Adani and associates. Rahul Gandhi criticized the government for allegedly protecting Adani, asserting that he should be arrested despite his denial of charges. AGEL clarified there were no violations of the U.S. Foreign Corrupt Practices Act.
Today, On 27th November, Senior Advocate Mahesh Jethmalani defended the Adani Group against U.S. court allegations, labeling them “sketchy” and questioning their timing before the parliamentary session. He stated there is no evidence linking Gautam Adani or executives to wrongdoing, criticizing Congress for politicizing the issue without substantiating claims of bribery or legal violations.
Today, On 27th November, Senior Advocate Mukul Rohatgi addressed allegations against the Adani Group, including Gautam Adani, regarding a supposed Rs. 265 million bribery scheme for solar contracts. Rohatgi refuted the charges, emphasizing a lack of specific evidence in the indictment and asserting that none of the Adani executives were directly implicated. The group continues to deny the allegations.
![[Adani-Hindenburg Row] New Plea in SC Demanding Disclosure of Sebi's Final Findings in Adani's Case](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-183.png?resize=447%2C367&ssl=1)
The Supreme Court of India upheld SEBI’s investigation into Hindenburg’s allegations against the Adani Group, affirming its integrity and scope. The court, led by Chief Justice D.Y. Chandrachud, rejected a plea to exclude SEBI from the probe into alleged share price manipulation and financial irregularities.
