Headline
Application filed in Supreme Court of India seeking investigation into US Bribery allegations against Gautam Adani Group.
Summary
Advocate Vishal Tiwari has filed an application in the Supreme Court of India seeking to show the US Department of Justice indictment accusing Gautam Adani and others for bribery. The plea demands an independent investigation by Indian agencies into these charges.
Key Facts
- Case Name: Advocate Vishal Tiwari v. Union of India & Others
- Judges Name: Pending listing before the Supreme Court of India.
- The plea links US allegations under the Foreign Corrupt Practices Act (FCPA) and Foreign Extortion Prevention Act (FEPA) to SEBI’s ongoing investigation of Adani companies.
- SEBI was ordered by the Court in January 2024 to “preferably” complete its investigation within 3 months but has yet to complete it.
- US allegations include bribery to affect Indian officials relating to solar power purchases.
Legal Insights
The plea stresses on the significance of SEBI’s punctual investigation and seeks transparency to restore investor confidence. It also advised in aligning Indian investigation with findings from international authorities.
Impact
This case showcases international scrutiny of Indian corporations, seriously affecting investor trust and cross-border corporate accountability.
Why It Matters
Ensuring unambiguous investigations is important in maintaining faith in regulatory systems and safeguarding the interests of investors and the public.
Also read- GAUTAM ADANI LED BRIBERY SCHEME TO SECURE SOLAR POWER DEALS ALLEGED BY US DEPARTMENT OF JUSTICE
