Brief by Shorts91NewsDesk / 05:15am on 19 Feb 2025,Wednesday India Global
The U.S. Securities and Exchange Commission (SEC) has requested assistance from India's Ministry of Law and Justice to serve a complaint to Adani Group founder Gautam Adani and his nephew, Sagar Adani. The SEC's efforts to serve the complaint are ongoing, as both individuals are currently in India and not under U.S. jurisdiction. The allegations involve a $265 million bribery scheme to secure solar energy contracts in India, with charges of misleading U.S. investors about the company's anti-corruption practices. The Adani Group has denied these allegations, labeling them as "baseless" and pledging to pursue all possible legal recourse.
