Prime Minister Narendra Modi is currently on a tour of France. There he has gone to participate in the AI Summit. From there, the Prime Minister will sit in his special aircraft and reach Washington. But before Prime Minister Modi’s plane landed in America, his friend and American President Trump has signed an order that would have blossomed the faces of Indian prosecution Gautam Adani. In fact, US President Donald Trump has suspended the nearly 50 -year -old Foreign Corrupt Projects Act (APCPA). This will not be a crime to bribe for business abroad. This is the same act under which industrialist Gautam Adani has been accused.
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Trump, while signing the order, said that this law harms companies on the global platform. In addition, he ordered the newly appointed Attorney General Palm Bondi to stop the actions taken under FCPA immediately. This includes cases of American individuals and companies, which the Department of Justice (DOJ) has accused of bribing foreign government officials in efforts to achieve trade in other countries. Trump said that it looks good on paper, but practically it is a disaster. This means that if an American goes to a foreign country and starts trading legally there, it is almost a guaranteed investigation prosecution, and no one wants to trade with Americans.
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Let us tell you that FCPA is a tough law of 1977. Which prevents American companies and citizens from bribing foreign collective officials to take advantage of business. Its purpose is to promote morality and transparency in international business. After Trump’s ban on this, the Adani Group will also get a big relief, against which the case is going on under FCPA. Let us tell you that the actions under FCPA are ordering to stop until they issue new enforcement guidelines. Trump tried to end the law during his first term.
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What were the allegations against Adani?
On 20 November, US SEC and DOJ made parallel allegations against Indian billionaire Gautam Adani, his nephew Sagar Adani, Azure Power Global Limited business colleague Siril Cabanes and other senior business officials regarding the alleged $ 250 million bribe scheme in violation of FCPA. Announcement. The SEC alleged that Adani misled American investors by incorrectly presenting anti -bribery measures while indulging in corrupt conduct. The alleged incident occurred in September 2021 during a bond offering by Adani Green, with $ 750 million, including $ 175 million from US investors.
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