US market regulator seeks Indian government’s help to investigate alleged Adani fraud case

The United States Securities and Exchange Commission has asked the Indian government for help in its investigation of Adani Group Chairman Gautam Adani and his nephew Sagar Adani in an alleged $265 million bribery and fraud case, Reuters reported on Wednesday.

The US market regulator informed a district court in New York that it was trying to serve its complaint to Gautam Adani and Sagar Adani and that it had sought assistance from the Indian law ministry.

In November, the United States Attorney’s office for the Eastern District in New York indicted Gautam Adani in a $265 million bribery and fraud case.

The US Department of Justice had alleged that executives of the conglomerate participated in a scheme to bribe officials in India for solar energy contracts, then misrepresented the company’s anti-bribery practices to investors in the United States. The details of the alleged bribes were concealed to secure financing, the US Department of Justice claimed.

The Adani Group has denied the allegations and vowed legal action. In December, Gautam Adani blamed the press for what he described as “incorrect and reckless reporting” on the matter.

The US authorities want @PMOIndia govt help to serve notices on Gautam Adani pic.twitter.com/TAyyTWvRwe

— Swati Chaturvedi (@bainjal) February 19, 2025

While the indictment document outlines conspiracy to obstruct justice and violations of the…

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