The United States Securities and Exchange Commission (SEC), in a court filing to the US District Court in New York, has filed a status update detailing its ongoing efforts to serve legal documents to Gautam Adani and his nephew Sagar Adani in connection with a civil securities case filed last year.
A PTI report maintained that the summons and complaints pertaining to the case are yet to be served to Gautam Adani and his nephew.
In a letter submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), dated June 27, 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, it added. According to the report, the SEC has informed the US court that it had requested the Law Ministry in India to help serve the summons. The US SEC has no jurisdiction to summon a foreign national directly.
The court filing confirmed that the Indian courts have not yet served the summons. The next status report to the US court is to be filed by August 11.
The US Securities Case
The case pertains to allegations levelled by the US prosecutors against Gautam Adani, Sagar Adani and six others for allegedly offering Rs 2,029 crore ($265 million) in bribes to Indian government officials for securing “lucrative solar energy supply contracts” with state electricity distribution companies.
The SEC had initially filed the complaint in November 2024, accusing the two of violating US securities laws by issuing false and misleading statements concerning a bond offering by Adani Green Energy Ltd in September 2021.
Earlier on June 26, Gautam Adani, while addressing the Adani Group‘s Annual General Meeting, had said that no one from the Group has been charged with conspiring to obstruct justice. He had said, “Despite all the noise, the facts are that no one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice.”