New Delhi
The US has sought help from India to prosecute several top officials of the group including Gautam Adani and his nephew Sagar Adani. According to a report by Reuters, the US agency SEC has sought help from the Law Ministry of India. The case is related to alleged rigging of shares and bribery of $ 26,5 million. The SEC of America is investigating the Adani Group. SEC told a New York court that efforts are on to give court notice to Gautam and Sagar Adani. Both live in India.
Last year, Federal Prosecutors in Brooklyn accused Adani and several group officials of bribing Indian officials. This bribe was given to buy power from Adani Green Energy. It was also alleged that Adani misled American investors. He gave incorrect information about the company’s anti -corruption measures. The Adani Group has described these allegations as baseless. The group says it will use all legal options.
What is the matter
SEC has said in its indictment that Gautam Adani, Sagar Adani and six others bribed $ 26.5 million to government officials in India between 2020 and 2024. This bribe was given to achieve the beneficial contract of solar power. These contracts were estimated to have a profit of $ 2 billion in 20 years.
