The US Securities and Exchange Commission (SEC) has sought assistance from India’s law ministry in its investigation into billionaire Gautam Adani and his nephew Sagar Adani over allegations of paying over $250 million in bribes to Indian government officials between 2020 and 2024 to secure solar-energy contracts.
The SEC informed a New York district court that it is working to serve its complaint to the Adanis under the Hague Service Convention. The US Department of Justice (DoJ) has also opened a criminal investigation, alleging that Adani Green Energy Ltd raised $2 billion from investors using false claims about its anti-corruption efforts.
Federal prosecutors indicted eight individuals in November 2024 in connection with the bribery scheme, while the SEC is investigating whether Adani Green violated US securities laws by failing to disclose the probe when raising funds from American investors.
The Adani Group has denied the allegations, calling them “baseless” and reaffirming its commitment to legal compliance and governance.
