US INDICTMENT OF ADANIS FOR BRIBING INDIAN OFFICIALS WILL HAVE LITTLE IMPACT ON THE GROUP
INDIA’S ANTI-CORRUPTION ACT IS GENERALLY LENIENT TOWARDS INDUSTRY TOP GUNS
2024-11-25 11:38
-
If bribery is a common practice in business, and often viewed as the normal way of doing business in many countries, including India, there is little too sensational about the US Department of Justice indictment, last week, against India’s US$37-billion infrastructure conglomerate Adani group head Gautam Adani, his nephew Sagar Adani, Adani Green Energy CEO Vneet S Jaain and others for bribing officials in India, raising money from US investors and misleading them. The US prosecutors indicted Gautam S Adani, Sagar Adani and six others for allegedly offering RS.2,029 crore bribes to Indian government officials for securing “lucrative solar energy supply contracts” with state electricity distribution companies.