Adani US SEC and Criminal cases not combined, only assigned to one judge: Exclusive

The US Securities and Exchange Commission and Eastern District of New York criminal cases against the Adani Group are not “combined” but have just been placed before one judge in a US court for efficiency purposes.

CNBC-TV18 has reviewed the orders passed by a US court on 12th and 18th of December reassigning the cases to a single Judge.

These cases have also been placed before one single judge to avoid conflicting schedules along with the efficiency angle.

Both the civil and criminal cases against the Adani Group for an alleged bribery scheme have been assigned to US District judge Garaufis, but remain separate. This means the court will still hear both the civil and criminal cases separately and deliver orders.
A US Department of Justice Spokesperson told CNBC-TV18 that both the civil case before the SEC and the criminal case before the Eastern District of New York have now been assigned to one judge but have not been combined.

Adani Group chairman Gautam Adani was indicted by US prosecutors for his alleged role in a bribery scheme in November last year.

Back home, Andhra Pradesh Chief Minister N Chandrababu Naidu also took a step back on Thursday, saying no action can be taken against the Adani Group until concrete proof is obtained. You can read more on that here.

A few weeks ago, US Attorney Breon Peace, who had announced charges against Adani, resigned, as did FBI Director Chris Wray.

Shares of Adani Enterprises are down 8% from the November 19 levels of ₹2,821, which is where they closed before a 22% drop on November 21.

Shares of Adani Green Energy are down 26% from the November 19 levels of ₹1,412.