A New York court has ordered that three ongoing cases against industrialist Gautam Adani and others, related to charges of bribery totalling USD 265 million, be consolidated for a joint trial.
The decision follows the court’s assessment that the cases are based on similar allegations and involve related transactions.
The cases to be heard together include the criminal case US vs Adani and others, the Securities and Exchange Commission (SEC) vs Adani and others, and SEC vs Cabanes, which concerns other individuals involved.
The court’s ruling was made to streamline proceedings and avoid scheduling conflicts, with all cases now assigned to District Judge Nicholas G Garaufis, who is already overseeing the criminal case against Adani. Court staff have been tasked with the reassignment of the cases.
Adani, along with others, stands accused of paying USD 265 million (around Rs 2,029 crore) in bribes to secure solar energy contracts with state electricity distribution companies.
US prosecutors have alleged that the bribery was concealed from US banks and investors who had provided funds for the solar energy projects.
In response, the Adani Group has firmly denied the charges, calling them “baseless.”
A spokesperson for the group stated, “We are a law-abiding organisation, fully compliant with all laws,” adding that the indictment is based on charges, and the defendants are presumed innocent until proven guilty.
