Gautam Adani, the Adani Group’s chairman, is facing criminal accusations in the United States for allegedly paying $250 million in bribery to Indian authorities to gain contracts for India’s largest solar power plant. Here’s what’s next for the Indian billionaire:
Gautam Adani is accused of international bribery, securities fraud, wire fraud conspiracy, and other crimes. Prosecutors claim he spent more than $250 million in bribery to get solar contracts worth $2 billion over two decades. When firms operate in the United States, they might face prosecution for international bribery.
If Gautam Adani is in India, US prosecutors would need to request his extradition. India’s courts would evaluate whether the charges apply under Indian law and assess any political or human rights concerns. Gautam Adani could contest extradition, prolonging the process.
What will happen next?
According to Reuters, Gautam Adani has not made a plea and has not appeared before a US court. If he is extradited or surrenders, his attorneys will have the opportunity to dispute the charges. They may also negotiate a plea agreement, though prosecutors are not required to accept.
A trial is unlikely to start soon. According to Reuters, legal actions, such as evidentiary challenges and possibly separate trials for Adani’s seven co-defendants, might cause the process to be delayed.
If found guilty, Adani risks up to five years in prison for bribery and up to twenty years in prison for fraud and conspiracy. He might also face severe financial penalties. According to the Reuters article, any penalty would be determined by the presiding judge.
Adani’s lawyers may appeal any conviction, making this a potentially protracted court struggle.
The Adani Group has refuted the claims, describing them as “baseless” and claiming compliance with all regulations.
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Source: HT
