New Delhi: Industrialist Gautam Ad.’s troubles are increasing after charges were framed in the US for bribing officials and defrauding American investors for solar projects in India. Now an application has been filed in the Supreme Court to get America’s allegations investigated by central agencies. On the other hand, the interim government of Bangladesh has decided to review the power contracts signed by the Sheikh Hasina government with the Ad. Group. At such a time, BJP leader and MP Sudhanshu Trivedi has questioned the timing of America framing charges against Gautam Ad. before the Parliament session.
As the US frames charges against the country’s top businessman Gautam Ad. for alleged bribery and fraud, a new petition in the Supreme Court has sought investigation into the matter by Indian agencies.
The petition alleges that the US court’s indictment and SEC’s complaint make serious allegations of bribery of Indian government officials by Gautam Ad. and his officials. Indian investigating agencies should take these allegations seriously. Advocate Vishal Tiwari has filed this application in the Supreme Court. Even before this, Vishal Tiwari had led the petitions filed in the Supreme Court after the Hindenburg Report on Ad. Group.
The petition has also raised questions on the functioning of Indian market regulator SEBI. The petition argued that despite the Supreme Court ordering SEBI to investigate the Ad. Group in March 2023, the results of the investigation have not yet come out. Due to which the confidence of investors is decreasing. The petition demands that the findings of SEBI’s investigation be made public so that investors’ confidence can be restored.
In March 2023, the Supreme Court ordered SEBI to investigate allegations against Ad. Group of stock price m.pulation, violation of securities contract rules and non-disclosure of related party transaction information to the exchange. But no information has been released yet about SEBI’s investigation.
At a time when Gautam Ad. is facing the US case, Bangladesh’s interim government Mohammad Yunus has decided to review the power agreement signed with the Ad. Group by the previous Sheikh Hasina government. The National Review Committee of Bangladesh’s Ministry of Power, Energy and Mineral Resources on Sunday recommended the interim government under Sheikh Hasina appoint a legislative and investigative agency to review seven major power contracts signed between 2009 and 2024.
