Adani Group Chairman Gautam Adani and his nephew Sagar Adani have been summoned by the US Securities and Commission (SEC) on Saturday. The US SEC has summoned Adani to clarify its stance on bribery and fraud allegations against it.
According to the news agency, Adani's Shantivan Farm House in Ahmedabad and his nephew Sagar's Bodakdev Residence have been summoned to respond to the SEC within 21 days.
A notice sent by the New York Eastern District Court states that 'within 21 days of this summons, you must file an answer to the complaint with the SEC or serve a motion pursuant to Rule 12 of the Federal Rules of Civil Procedure.
If it fails to respond, judgment will be entered against Adani for the relief sought in the complaint. The answer has to be filed in court.
Adani Green Energy is setting up a 30,000 MW solar plant at a single location in Khawara, Gujarat.
8 people including Gautam Adani accused of fraud of billions of rupees On November 21, 8 people, including businessman Gautam Adani, were accused of defrauding billions of rupees in America. The United States Attorney's Office says Adani paid or planned to pay $265 million (about Rs 2,200 crore) in bribes to Indian officials to secure contracts related to solar power in India.
The entire matter is related to Adani Group company Adani Green Energy Limited and another firm. The case was filed on 24 October 2024 in a federal court in New York. Gautam Adani, his nephew Sagar Adani, Vineet S Jain, Ranjit Gupta, Cyril Cabenis, Saurabh Agarwal, Deepak Malhotra and Rupesh Agarwal have been made accused in his hearing on Wednesday.
According to a Reuters report, arrest warrants have also been issued against Gautam Adani and Sagar. Sagar is an officer of Adani Green Energy Limited.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
