In relief for Adani Enterprises, the US Department of Treasury on Monday said that it has agreed to for 32 apparent violations of US sanctions on Iran for $275 million settlement, Reuters reported.
In a statement, US Treasury’s Office of Foreign Assets Control said that had bought liquified petroleum gas (LPG) from a Dubai based trader which alleged to supply Iraq and Oman’s gas, however it had originated from Iran.
Meanwhile, a civil lawsuit, filed separately against Gautam Adani was settled by the US Securities and Exchange Commission (SEC) over an alleged scheme of bribing Indian government officials, court records showed, Reuters reported.
However, the SEC settlement is subject to court approval. The report added that US Justice Department is also planning to drop criminal fraud charges against Adani, who has promised to invest $10 billion in American economy.
The prosecutors in US had charged Adani for allegedly paying bribes to the tune of $265 million to Indian government officials so that Adani group of companies could win approval to develop India’s largest solar power plant, the report stated.
