The charges against Gautam Adani and other executives of the Adani group by the US Department of Justice (DOJ) can be appealed, and other legal recourse like a settlement route can be explored; but settlement comes with a cost, say legal experts.
On November 20, US prosecutors leveled bribery and corruption charges against several Adani group executives, alleging that they schemed to pay over $265 million in bribes to Indian government officials and conspired "to commit securities and wire fraud" to obtain funds from US investors on the basis of misleading statements.
The Adani group has denied the allegations as "baseless" and said that it will seek all possible legal recourse. To be clear, the group has not made any statement indicating settlement.
This story is from the November 23, 2024 edition of Business Standard.
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This story is from the November 23, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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