By Justice Markandey Katju-
(Justice Markandey Katju is a former Judge, Supreme Court of India, and former Chairman of Press Council of India. The views expressed are his own.)
A Federal Court in Brooklyn New York has indicted Indian billionaire Gautam Adani, his nephew Sagar Adani and six other business colleagues in his company on charges under the US Foreign Corrupt Practices Act.
I am in California presently, and I discussed the matter with some NRIs living here. They were of the opinion that this was a reaction of the US Government to Indian Prime Minister Modi’s moves of trying to run with the hares and hunt with the hounds, that is trying to balance friendship with the USA with friendship with Russia e.g. his recent attendance in the BRICS summit in Kazan, Russia, BRICs being an organization dominated by Russia and China, and therefore being predominantly an anti-US organization.
Adani is known to be very close to Modi, so hitting at the former is an indirect way of giving a message and warning to the latter to stop getting close to the Russians and Chinese, otherwise, there would be repercussions.
Adani has reacted to the indictment by saying “Every attack makes us stronger. ” The Adani group has called it fake and distorted news.
What will be the repercussions on the Adani Group by the US court indictment?
According to Sucheta Dayal ( whose interview by Karan Thapar is given above ) they will be severe, but I for one doubt it. Modi is a friend of Donald Trump, and when the latter takes over as US President in January, Modi will talk to him on Adani’s behalf, and Trump will get the case put in cold storage, on Modi’s assurance that there will be no more Indian tilting towards the Russians or the Chinese.
Then it will be business back as usual.
