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by Mike Caswell

The U.S. charges against prominent Indian businessman Gautam Adani and others for a $250-million bribery scheme may yet go to trial, despite the U.S. Department of Justice indicating that it no longer intends to pursue the case. (All figures are in U.S. dollars.) Last month, prosecutors sought to dismiss the matter, which has links to a New York Stock Exchange listing controlled by provincial pension fund manager Caisse de depot et placement du Quebec. The judge, however, is now questioning whether there are "sufficient facts to support dismissal of the Indictment."

The legal back and forth comes as part of a case in which U.S. authorities claim that Mr. Adani and others arranged payouts to officials in return for solar power contracts worth billions of dollars. The beneficiaries of the contracts included a company controlled by Caisse de depot et placement du Quebec, the government said. In addition to Mr. Adani, the defendants in the case include a former Caisse employee, Cyril Cabanes, who was the head of infrastructure for the Asia-Pacific region.

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