NEW DELHI: The US Securities and Exchange Commission (SEC) on Tuesday has sought assistance from Indian authorities in its investigation into Adani Group chairman Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme, according to a court filing as per Reuters report.
The SEC informed a New York district court that its efforts to serve its complaint to Gautam and Sagar Adani were ongoing and that it was seeking assistance from India’s Ministry of Law and Justice to facilitate the process. Both individuals are currently in India and not in US custody.
Adani Group did not immediately respond to a request for comment from Reuters.
Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to push them into purchasing electricity from Adani Green Energy, a subsidiary of the Adani Group. The indictment also alleged that Adani misled US investors by providing misleading information about the company’s anti-corruption measures.
(With inputs from Reuters)
