US Indictment 'Silent' On Key Facts; Adani Not Charged Under FCPA, Says Mukul Rohatgi

The indictment filed by the US Justice Department that alleges the Adani Group of bribery charges stays "silent" on key facts that should ideally be mentioned in a charge sheet, according to Former Attorney-General for India and Senior Counsel, Mukul Rohatgi.

What's "troubling" is that the charge sheet that alleges the Adani Group of bribery has "no detail and name" of the alleged act and the manner in which it was conducted, the former attorney-general said in a press conference. "This charge sheet is completely silent."

A charge sheet has to be specific to say who and how the bribery was conducted, Rohatgi said adding that Gautam Adani and his nephew Sagar Adani were not charged with conspiracy to violate the US Foreign Corrupt Practices Act.

"My assessment is there are five charges and it is important to note that the count 1 and count 5 are more important. But in neither of them is Adani or his nephew charged." Both the counts include a foreign company among other individuals and not Adani or Vneet Jaain, he said.

The port-to-power conglomerate also clarified that its founder, Adani Green Energy Ltd. Executive Director Sagar Adani, and Managing Director and Chief Executive Officer Vneet Jain have not been named in the bribery charges in the indictment filed by the DoJ.

The company has further refuted news reports that said that Adani officials have been charged with bribery charges under the US Foreign Corrupt Practices Act.

Shares of all Adani group companies were trading higher in early trade on Wednesday after the clarification that the above-mentioned key individuals were not charged.

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