Adani bribery case: US SEC summons Gautam Adani, Sagar Adani
Subscribe to enjoy similar stories. BENGALURU : The US Securities and Exchange Commission (SEC) has issued a summons to Adani Group's founder and chairman, Gautam Adani, and his nephew and Adani Green Energy's executive director, Sagar Adani, thereby kickstarting legal proceedings in the alleged ₹2,000 crore ($250 million) bribery case. "Within 21 days after service of this summons on you (not counting the day you received it)… you must serve on the plaintiff an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure," said a 21 November SEC notice to Gautam Adani and Sagar Adani.
"If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court," said the US regulator, which has filed a case in this connection in a New York court. The Adani Group has yet to respond to Mint's questionnaire.
On Wednesday, federal prosecutors in New York indicted a total of eight individuals for allegedly paying more than $250 million in bribes to Indian government officials between 2020 and 2024 to obtain lucrative solar-energy contracts. The Indian conglomerate has denied the allegations by the US Department of Justice (DoJ) and the SEC, describing the allegations against its directors as "baseless". "All possible legal recourse will be sought," said a spokesperson for the Adani Group on Thursday.
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