NEW DELHI — A leading Indian law expert said Tuesday that the U.S. decision to drop charges against Adani Enterprises Ltd. is a major victory for the Adani Group and could help clear the way for its international expansion plans.
Raian Karanjawala, managing partner of Karanjawala & Co., told IANS that the resolution removes a significant obstacle for the conglomerate and could strengthen its global position.
“See, the case from what I read in the papers is already settled,” Karanjawala said, adding that the development was personally significant for Gautam Adani.
“One is obviously for Gautam Bhai personally, it is a huge victory,” Karanjawala said. “Now Gautam Bhai is a teetotaller, but otherwise tonight, they should have been opening champagne.”
Karanjawala said the removal of international legal concerns would allow the Adani Group to expand globally without restrictions tied to the case.
“Secondly, for the Adani Group itself, all fetters are now removed. They can expand as much as they want internationally, as much as they are permitted to do internationally, now that there is no pending case against them internationally,” he said.
He also described the development as positive for Indian industry and the country, saying major industrial groups play an important role in global economic negotiations.
“Even from the country’s perspective, I think it is a positive development,” Karanjawala said.
He said global diplomacy increasingly includes business leaders as part of economic engagement, citing U.S. President Donald Trump’s visit to China as an example.
The comments came after the U.S. Department of Justice permanently dropped all criminal charges against Gautam Adani and his nephew, Sagar Adani, in an alleged securities and wire fraud case.
In a filing before the Eastern District of New York, the Justice Department requested dismissal of the indictment against Adani.
“The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants,” the department said. (Source: IANS)
