India Pays “Huge Price,” Claims Rahul Gandhi After US Court Drops Adani Charges

Rahul Gandhi, leader of opposition, has launched a scathing attack on the prime minister of India, Narendra Modi, following a decision made by the US Federal court that dropped all the charges against the Chairman of Adani Group, Gautam Adani, and his nephew Sagar Adani. Through a media report of the same, he said there “was much more to this than meets the eye” and that a compromised PM had “sold India’s interest,” saying that “India is paying a huge price.”

This came in the wake of a ruling made by District Judge Nicholas Garaufis of the Eastern District of New York, where he accepted the plea of the justice department to dismiss three charges against Gautam Adani, Sagar Adani, and Vneet Jaain. The charges were for conspiracy of securities fraud, wire fraud, and conspiracy of securities fraud respectively. The dismissal was with prejudice, implying the same could not be charged again.

But Garaufis left open two other counts related to violations of the Foreign Corrupt Practices Act and obstruction of justice, involving five India-based defendants who have yet to appear in court. He made clear the order should not be taken as support for the government's position or a determination of the allegations themselves.

The Justice Department had moved to dismiss the case in May based on issues of jurisdiction, lack of evidence, the foreign nature of the misconduct, review by Indian officials, and the lack of any identifiable damage to investors. It said the case, which came to light in the last weeks of the Biden administration, was politically motivated and "name and shame" and would never go to trial.

The Adani group welcomed the decision, stating it accepted it "with humility and with great respect to the due process of law." Adani Group has always said it did nothing wrong and that it acted within all laws.

Gandhi's statements are another instance of Congress's long-standing crusade against the Modi government over its relationship with the Adani Group, an attack that has been waged since the first US charges were filed.