Adani US Indictment: In recent years, Indian markets and businessmen have been on the hit list of foreign entities and governments. The latest entry to this comes from the United States, where Indian businessman Gautam Adani, his nephew Sagar Adani and six others have been indicted by the US prosecutors in New York. Responding to the allegations, Adani group released a statement calling the charges as ‘baseless’.
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied,” said the statement.
Notably, the indictment mentions a renewable energy company named the Adani Green Energy which is a portfolio company of an Indian conglomerate — it has been not named but we all know its Adani Group, owned by Gautam Adani.
Adani faces Indictment in US
The charges according to this indictment says that “More than $250 Million in Bribes Promised to Indian Government Officials to Secure Solar Energy Contracts”.
The New York prosecutors allege that the nature of this so-called bribery was concealed from US investors and institutions — hence the violation of law.
So, before we talk about this, let me clear one thing. These are just mere allegations. Even in the official press release by the US Attorney’s Office, Eastern District of New York, it says, “The charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty”.
So, the ecosystem which has been activated since 4 AM yesterday, should read this before commenting anything.
Getting back to the indictment, first let’s talk about the language.
Promised and Offered
The allegations talk specifically about bribes promised — notice the word ‘Promised’ or ‘Offered’. For instance, let me quote, “The defendants also extensively documented their corrupt efforts: for example, Sagar R. Adani used his cellular phone to track specific details of the bribes offered and promised to government officials”.
There’s no concrete evidence of any financial transaction. However, the Congress-friendly ecosystem in India has been portraying the same as if they are guilty of taking bribes.
The next point is about where and by whom this indictment has been filed. The charges have been announced by Breon Peace, United States Attorney for the Eastern District of New York, Lisa H. Miller, Deputy Assistant Attorney General for the Justice Department’s Criminal Division and James E. Dennehy, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office.
The indictment was in the East District of New York in Brooklyn’s Federal Office. FYI, New York is ruled by Democrats, and we all know the entire Democratic party in the US is controlled by former president Barack Obama.
Many allegations have been put forward that the democrats in the US are actually using left-leaning judges in their dominated regions to push forward agenda. These allegations have been raised by none other than the US President Elect Donald Trump.
On 20 November, Trump tweeted that “The Democrats are trying to stack the Courts with Radical Left Judges on their way out the door”.

It can be called like a last-ditch effort to make things harder for the upcoming Trump administration, which by the way has called for strengthening relations with India. Right now, Adani is being targeted to complicate the Indo-US ties for the future.
Now, let’s come to an important part. The so-called promised bribery allegations are about Adani Green Energy collaborating with a US firm Azure Energy to supply 12 GW of power to the Solar Energy Corporation of India, or the SECI.
This was subject to SECI entering into a power purchase agreement, that is the PPA with the State Electricity Distribution Companies or SDCs. However, the power was costly, so the state companies were hesitant to buy. Now, the Adanis, with the US firm, allegedly promised of bribery worth 265 million dollars to these SDCs.
Do you know where these companies were based? Odisha, Tamil Nadu, Chhattisgarh and Andhra Pradesh.
And since, the time period which we’re talking about is July 2021 and February 2022 — the state governments which were ruling: In Odisha it was Biju Janata Dal in Tamil Nadu the DMK party, Chhattisgarh was ruled by Congress and Andhra Pradesh by the YSRCP.
But for some reason, the liberal ecosystem and the opposition in India since early morning has been blaming the Modi government. For instance, Congress leader Jairam Ramesh wrote two lengthy tweets, he accuses that the BJP has captured all institutions, but what about Chhattisgarh which was then ruled by Congress? What about Tamil Nadu – which was being ruled by a Congress ally?

Maybe, Rahul Gandhi should ask questions to former Chhattisgarh CM Bhupesh Baghel or maybe his friend MK Stalin.
During the entire tenure of US President Joe Biden, India did not cave in to the American agenda and demands, for example on the Russian oil. Furthermore, the US deep state and their assets have targeted Indian conglomerates and markets because this emerging corporate and economic power of India is a big threat to the American supremacy.
This indictment is just a last weapon in a series of attacks going on since last 4 years on Indian businessmen, particularly Adani. This is also a brazen attempt to destablise the Indian market. Although, the Indian markets have earlier shown their resilience, even during the attacks by shortseller Hindenburg.
As a patriotic Indian myself – it’s high time we all unite and stand together in face of this brazen attempt to demoralise the Indian markets.