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US SEC seeks assistance from Indian authorities to probe into Adani bribery case
- IBJ Bureau
- Feb 20, 2025
The US Securities and Exchange Commission (SEC) has requested assistance from India’s Ministry of Law and Justice in its investigation of Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265-million bribery scheme, reported the Reuters, citing a court filing on Tuesday.
The SEC said that both Gautam Adani and Sagar Adani “are located in India, and the SEC’s efforts to serve them (notice) there are ongoing, including through a request for assistance to the Indian authorities to effect service under the Hague Service Convention for Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters”.
The US SEC said that because the “defendants are located in a foreign country, Rule 4(f) of the Federal Rules of Civil Procedure (FRCP) governs service of the Summons and Complaint. FRCP 4(f) contains no set time limit for service, and the SEC may serve Defendants “by any internationally agreed means of service that is reasonably calculated to give notice,”... such as the Hague Service Convention”.
The SEC update, submitted by its Counsel Christopher Colorado, cited a case which notes that service via the Hague Service Convention is one permissible means of serving defendants located in India.
Last year, federal prosecutors in Brooklyn had unsealed an indictment, accusing Mr Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy , a subsidiary of his Adani Group conglomerate, and then misleading US investors by providing reassuring information about the company’s anti-corruption practices.
The Adani Group has called the allegations “baseless” and vowed to seek “all possible legal recourse”.
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