The allegations made by the US against Adani for alleged bribery "fit a pattern" of targeting foreign figures through extraterritorial charges, according to author and commentator Brahma Chellaney.
"Before Hasina's fall, the US imposed sanctions on an ex-army chief for alleged corruption in Bangladesh (not US)," he said in a post on X, formerly known as Twitter.
The comment by Chellaney comes a day after Adani Group has firmly rejected allegations made by the US Department of Justice and the US Securities and Exchange Commission against its directors, describing them as "baseless" and categorically denying any wrongdoing.
The US indictment of Adani for alleged bribery in India fits with a pattern of extraterritorial targeting of chosen entities or individuals.
November 22, 2024
Before Hasina's fall, the US imposed sanctions on an ex-army chief for alleged corruption in Bangladesh (not US). https://t.co/ukDv9sRhsi…The US in May, when it issued the statement, had justified the sanction against General Aziz Ahmed and cited a geopolitical goal to strengthen democratic institutions and rule of law in Bangladesh. However, in this case it has linked the charges against Adani on the $175 million raised by the company from US investors.
The funds raised were for a $6 billion investment in solar energy in India. The US indictment has alleged that the total bribes paid by the company in India were higher than the "comparatively paltry capital" raised in the US, he said.
Brahma Chellaney was former advisor to India's National Security Council. He has also served as a member of the Policy Advisory Group headed by the foreign minister of India.
Former Indian Foreign Secretary, Kanwal Sibal in response to the post also echoed similar questions. "Is it that $ 175 m raised in the US was central to paying these alleged bribes? Without it no bribe could be paid? See the absurdity of the US charge," said Sibal.
Very pertinent post. Clarifies something most important. Total cost of the Adani project is $ 6 b. Only $ 175 m was raised in the US. Charge is that those indicted allegedly paid $ 240 m to get solar contracts worth$ 2 b in profits over 20 years. Is it that $ 175 m raised in… https://t.co/1NrCWQ8Jki
November 22, 2024In response to the charges brought against Adani Green Energy and its directors, the conglomerate issued a statement emphasising that, as per the DOJ's own statements, "the charges in the indictment are allegations, and the defendants are presumed innocent unless and until proven guilty."
The group further assured stakeholders that it would pursue all available legal recourse to address these accusations.
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