US SEC updates court on efforts to serve Adani in $265mn bribery case over solar deals

Public Lokpal
June 28, 2025

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US SEC updates court on efforts to serve Adani in $265mn bribery case over solar deals

New York : The US Securities and Exchange Commission (SEC) has filed a status update with a federal court in New York, detailing its ongoing efforts to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last year.

In a June 27 letter submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said it is continuing to pursue formal service of the summons and complaint under the provisions of the Hague Service Convention.

The defendants, who are based in India, are yet to be officially served.

The US SEC has to serve the summons to Adani Group chairman Gautam Adani and his nephew Sagar in the alleged $265 million payoffs to win lucrative renewable power supply contracts through proper diplomatic channels, as it has no jurisdiction to summon a foreign national directly.

The SEC originally filed the complaint on November 20, 2024, alleging that two individuals violated US securities laws by making false and misleading statements related to a September 2021 bond offering by Adani Green Energy Ltd.

SEC said it had previously requested assistance from India’s ministry of law and justice in serving the summons and complaint on Adani in India.

Gautam Adani, 63, and seven other defendants, allegedly agreed to pay about $265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that expected to yield $2 billion of profit over 20 years, according to an indictment unsealed in a New York court in November last year.

PTI