The U.S. Securities and Exchange Commission (SEC) has requested assistance from Indian authorities to serve legal notices to Adani Group founder Gautam Adani and his nephew, Sagar Adani, concerning allegations of securities fraud and a $265 million bribery scheme.
The SEC’s efforts to serve its complaint are ongoing, including a request for assistance to India’s Ministry of Law and Justice under the Hague Service Convention.
The Adani Group has dismissed these allegations as “baseless” and has vowed to pursue all possible legal recourse.
Source: https://thefederal.com/category/business/us-sec-seeks-indias-help-in-gautam-adani-fraud-probe-172548
