Adani Group Faces U.S. Investigation Over $265M Bribery Allegations

WASHINGTON, Feb 19: The U.S. Securities and Exchange Commission (SEC) has sought assistance from Indian authorities in its investigation of Adani Group founder Gautam Adani and his nephew, Sagar Adani, over alleged securities fraud and a $265-million bribery scheme, according to a court filing on Tuesday. The SEC informed a New York district court that it was attempting to serve its complaint to both individuals and had requested assistance from India's law ministry under the Hague Service Convention.

Both Gautam and Sagar Adani are currently in India and not in U.S. custody. Neither Adani Group nor India’s law ministry has responded to requests for comment.

Last week, Prime Minister Narendra Modi stated that he did not discuss the Adani case with former U.S. President Donald Trump during his visit to Washington, calling it an individual matter not addressed by leaders. Meanwhile, India's opposition Congress party has demanded Adani’s arrest, accusing Modi of protecting him and favoring his business dealings—allegations that both Modi’s party and Adani Group have denied.

In a separate case, U.S. federal prosecutors in Brooklyn previously indicted Adani, accusing him of bribing Indian officials to secure electricity purchase deals for Adani Green Energy. The indictment also alleged that he misled U.S. investors about the company’s anti-corruption practices. Adani Group has dismissed the accusations as "baseless" and pledged to pursue all legal avenues. In January, Adani Green announced that it had engaged independent law firms to review the U.S. indictment.