According to the reports, the summons were delivered to their respective residences in Ahmedabad – Gautam Adani’s Shantivan Farm and Sagar Adani’s Bodakdev home.
Gautam Adani News: Gautam Adani along with his nephew Sagar Adani have received summons regarding the payment of USD 265 million (Rs 2,200 crore) in bribes for obtaining profitable solar power contracts. The claims were made by the US Securities and Exchange Commission’s (SEC). A US indictment represents a formal written accusation initiated by a prosecutor and issued via a grand jury against an accused party.
According to the reports, the summons were delivered to their respective residences in Ahmedabad – Gautam Adani’s Shantivan Farm and Sagar Adani’s Bodakdev home. The Adani Group chairman will have to respond to SEC within 21 days.
“Within 21 days after service of this summons on you (not counting the day you received it)…you must serve on the plaintiff (SEC) an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure,” a November 21 notice issued through the New York Eastern District Court said according to a PTI report.
“If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court,” the notice continued.
Alleged Bribery Case
The chairman of Adani group and seven other defendants, including his nephew Sagar, who is a director at the group’s renewable energy unit Adani Green Energy Ltd, allegedly agreed to pay about USD 265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that expected to yield USD 2 billion of profit over 20 years, according to an indictment unsealed in a New York court on Wednesday.
Separate from the indictment brought by the US Department of Justice, the US SEC has also charged the two and Cyril Cabanes, an executive of Azure Power Global, for “conduct arising out of a massive bribery scheme”.
The ports-to-energy conglomerate has denied the allegations and said it will seek all possible legal resources.
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation fully compliant with all laws.”