Washington
US President Donald Trump has ordered the abolition of the Foreign Corrupt Practices Act 1977. He has issued this order midnight. This decision of Trump is going to provide great relief to India’s legendary businessman Gautam Adani. Under this law, investigation was being done against him. Donald Trump has said in his order that to get a bribe to foreign officials to get business abroad. In such a situation, the case against Gautam Adani will end. According to reports, Donald Trump wanted to eliminate this law during his first term. He said that due to this law, the world makes fun of us. This law prevents American companies from expanding in business and weakens them. In this era of competition, there is no work of such law.
Donald Trump ordered the US Attorney General, saying that such cases will now be monitored under the new rules. Donald Trump signed before the reporters on this order. In 2024, the Justice Department and Securities and Exchange Commission registered 26 cases related to FCPA. Under this, 31 companies were tightened. Now all these companies are going to get great relief. It also includes Adani Group.
Why was investigation against Adani Group
Last year, 8 people, including Gautam Adani, were accused of fraud worth billions of rupees. It was alleged that Adani’s company had illegally achieved renewable energy projects in India. For this, government officials were given a big bribe. A case was filed in the Federal Court of New York. The charge sheet stated that the Adani Group bribed the officers to get a contract of solar energy to a bribe of 2110 crores. At the same time, money was raised from American investors to give funds. It was considered a violation of the US law.
In this charge sheet there were one Australian and seven Indians. It had the names of Gautam Adani’s nephew Sagar Adani, Vineet S Jain, Ranjit Gupta, Cyril Cabnes, Saurabh Aggarwal, Deepak Malhotra and Rupesh Aggarwal. At the same time, some US MPs also wrote a letter to the Justice Department supporting Gautam Adani. He said that the action taken against the Adani Group in the administration of Biden should be investigated.
