Civil, criminal cases against Gautam Adani assigned to one judge: New York court order
The Hindu
US District Court orders related cases against Gautam Adani to be assigned to criminal case judge for efficiency.
A New York court has ordered that the criminal and civil cases filed against billionaire Gautam Adani and others in a bribery scheme are “related” and will be assigned to the judge overseeing the criminal case.
Gautam Adani indictment: In-depth coverage
The order available on the court website of the U.S. District Court Eastern District of New York says that “in consultation with District Judge Garaufis, because USA v. Adani et al., 24 Crim. 433 (NGG), Securities and Exchange Commission v. Adani et al., 24 Civ. 8080 (VMS), and Securities and Exchange Commission v. Cabanes, 24 Civ. 8081 (VMS) are based on similar allegations and arise from the same transactions or events".
“To promote judicial efficiency and avoid conflicting schedules, all three cases are marked as related. All three actions shall be assigned to the judges assigned to the earliest filed action, which is the criminal action, USA v. Adani et al., 24 Crim. 433 (NGG)… Ordered by Magistrate Judge Vera M. Scanlon on 12/12/2024.
The case has now been reassigned to United States District Judge Nicholas Garaufis.
Mr. Adani is being indicted by the U.S. Department of Justice for his role in an alleged years-long scheme to pay $250 million bribes to Indian officials in exchange for favourable solar power contracts.
The Adani group has denied the Department of Justice and the SEC's allegations 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," a spokesperson for the Adani Group had said in a statement.
Foreign investors withdrew ₹4,285 crore from Indian equities due to high valuations and global uncertainties, impacting market sentiment.
OYO introduces new check-in policy requiring proof of relationship, empowering hotels to decline unmarried couple bookings.
Market valuation of top firms fluctuated, with HDFC Bank taking a hit while Reliance Industries emerged as the winner.
Rupee depreciation explained: Factors influencing currency value, RBI intervention, and global investor trends driving exchange rate fluctuations.
India's focus on quality standards, including QCOs for plywood and MDF boards, is recognized domestically and internationally.
Apple CEO Tim Cook is to donate $1 million to the inaugural committee, per Axios
US District Court orders related cases against Gautam Adani to be assigned to criminal case judge for efficiency.
Sunshine Pictures IPO offers 83.75 lakh equity shares, including fresh issue for working capital, enhancing brand visibility.
Adani Group Chairman Gautam Adani emphasizes investing in technology and talent for future growth and success in 2025.
Rupee hits record low against dollar due to strong demand, U.S. economy outperformance, and expectations of fewer rate cuts.
Congress expresses concern over disappointing GST numbers, urges government to focus on economy complexities, not popcorn tax.