Washington: While corporate tycoon Adani Group is facing an investigation into alleged bribery in the US, President Donald Trump signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that was used in the investigation, PTI reported.
Trump signed an order to pause the enforcement of the 1977 Foreign Corrupt Practices Act (FCPA), which prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
The President directed US Attorney General Pam Bondi to pause enforcement of FCPA, which was at the heart of some of the US Department of Justice's most high-profile cases, including an indictment against Indian billionaire and Adani Group head Gautam Adani and his nephew Sagar.
Last year, DoJ, under President Joe Biden, charged Adani for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.
This was concealed from the US banks and investors from whom the Adani group raised billions of dollars for the project, the prosecutors had alleged last year, citing FCPA, which allows pursuing foreign corruption allegations if they involve certain links to American investors or markets.
The pause and the review are being seen as a relief to the Adani Group, but it remains to be seen what stand the DoJ takes after the six-month review period.
The order that Trump signed asked "the Attorney General to review guidelines and policies governing investigations and enforcement actions under the FCPA" in 180 days.
"During the review period, the Attorney General shall cease initiation of any new FCPA investigations or enforcement actions, unless the Attorney General determines that an individual exception should be made," it said.
Also, it sought to "review in detail all existing FCPA investigations or enforcement actions and take appropriate action with respect to such matters to restore proper bounds on FCPA enforcement and preserve Presidential foreign policy prerogatives".