Adani Group engages top US law firms for SEC defense
The Adani Group has enlisted the services of prominent US legal firms, Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP, to serve as legal representation against allegations by the United States Securities and Exchange Commission (SEC) and the Eastern District of New York. Reports suggest that the accusations involve claims that the company provided over $250 million in bribes to Indian government officials to secure solar energy contracts for Adani Green Energy Ltd (AGEL).
In response to the charges filed by US authorities on November 21, which implicated Adani Group founder Gautam Adani, his nephew Sagar Adani, and other company officials in alleged bribery cases, AGEL clarified that Gautam Adani, Sagar Adani, and senior executive Vneet S. Jaain have not been directly charged with Foreign Corrupt Practices Act (FCPA) violations.
The legal matters have been consolidated under a single judge in a US court, highlighting the intensified scrutiny on Adani Group executives. Former Azure Power executives Ranjit Gupta and Rupesh Agarwal are facing accusations of conspiracy to violate the FCPA, while individuals associated with Canadian institutional investor CDPQ, including Cyril Cabanes, Saurabh Agarwal, and Deepak Malhotra, are under investigation for obstruction of justice, including allegations of tampering with evidence and withholding crucial information.
Quinn Emanuel, a global litigation firm headquartered in Los Angeles, boasts a successful track record of handling more than 2,300 cases with an impressive 88% success rate. Specializing in securities litigation, product liability, and regulatory investigations, the firm has represented major clients like Google, Apple, Microsoft, and Uber.
Kirkland & Ellis, based in Chicago with offices in 21 global locations, is renowned for its expertise in high-stakes commercial disputes, intellectual property litigation, and white-collar crime cases. The firm has defended companies such as Johnson & Johnson and Volkswagen in complex environmental and product liability lawsuits and has advised tech giants like Facebook and Google.
When approached for comments on the ongoing legal proceedings, neither the Adani Group nor the two law firms have provided responses.
As allegations mount against the Adani Group, US authorities have ramped up investigations into the corporate practices tied to Indian energy contracts. The engagement of top-tier US legal firms underscores the group’s robust legal strategy in addressing the charges.
