New York: A New York court has ordered to combine the three ongoing cases against Indian billionaire Gautam Adani and others on charges of bribery. According to reports, the court ordered that the cases would be heard together in a joint trial.
The court ruled this after noting that the cases stem from similar allegations and transactions. The cases that have been clubbed include US vs Adani and others (the criminal case against Adani), Securities and Exchange Commission (SEC) vs Adani and others (civil case against Adani), and SEC vs Cabanes (civil case against the other accused).
The decision was taken to promote judicial efficiency and avoid conflicting schedules, the court observed. The cases would be assigned to District Judge Nicholas G Garaufis. He is the same judge, who is also overseeing the criminal case against Adani.
Adani and others are accused of paying USD 265 million (around Rs 2,029 crore) in bribes to get solar energy contracts with state electricity distribution companies. US prosecutors had alleged that the fact was kept hidden from the US banks and the investors. Adani Group had raised funds for the solar energy projects from these US establishments.
The Adani Group has refuted the allegations as ‘baseless.’
