Initiate parallel probe by SIT/CBI/ED into charges against Adani in United States, insists a plea in Madras High Court

Litigant wonders how Indian investigating agencies can remain a mute spectator when a foreign country had unearthed corruption of such a high magnitude

A writ petition has been filed in the Madras High Court seeking a direction to the Union Home Ministry to order a probe either by a Special Investigation Team (SIT), Central Bureau of Investigation (CBI) or by the Directorate of Enforcement (ED) into charges of fraud levelled by the Federal prosecutors in New York against Indian business tycoon Gautam S. Adani and others.

Advocate M.L. Ravi, president of Desiya Makkal Sakthi Katchi (DSMK), has filed the writ petition wondering how the Indian investigating agencies could remain silent and act as mere spectators when a foreign country had unearthed corruption of a high magnitude and initiated prosecution too. “It is an insult to an entire nation of 140 crore citizens,” the petitioner said in his affidavit.

The petitioner said, a press communique issued by the United States Attorney’s Office at the Eastern District of New York had quoted Deputy Assistant Attorney General Lisa Miller to have said that the indictment against Mr. Adani, his nephew Sagar Adani and six others “alleges schemes to pay over $250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice.”

The bribes had been reportedly given in exchange for favourable terms of solar power contracts. The charge was that Adani Green Energy had entered into a contract with Solar Energy Corporation of India (SECI) for sale of the solar power generated by the former and, thereafter, bribed several State government officials in India for purchasing solar power from SECI at prices much higher than the market price.

The prosecutors had accused Adani Green of having failed to disclose this information to its investors in the US thereby constituting fraud under federal securities law. “Corruption erodes public trust in government institutions and hinders development. It causes economic loss to the country by diverting public funds thereby affecting the poor and margninalised,” the petitioner said and insisted on a probe by Indian authorities too.

Published - November 25, 2024 08:42 pm IST