Indian authorities ignored action against Adani executives, SEC informs US Court

Guwahati: The U.S. Securities and Exchange Commission (SEC) expressed frustration in court on Friday over India's failure to assist in serving legal summons to executives of the Adani Group, including founder Gautam Adani and his nephew Sagar Adani.

The SEC is currently investigating the Indian conglomerate for alleged securities fraud and a $265 million bribery scheme.

In its latest filing to a U.S. district court in New York, the SEC revealed that it has made multiple attempts to contact India’s Ministry of Law and Justice under the Hague Service Convention.

Despite its most recent communication on September 14, the agency has received no confirmation that summons or complaints have been delivered to the individuals named in the case.

The probe, which has gained national attention in the U.S., centers on accusations that Adani Group executives bribed Indian officials to secure favorable electricity deals for its subsidiary, Adani Green Energy.

Prosecutors in Brooklyn indicted the firm earlier this year, alleging that company representatives later misled U.S. investors about their compliance practices by offering falsely reassuring statements regarding anti-corruption protocols.

The SEC maintains that the failure to serve legal documents is hindering progress in the case. “We will continue our efforts to engage with Indian authorities through the appropriate international legal channels,” the agency stated.

So far, neither India’s Law Ministry nor the Adani Group has responded to Reuters’ requests for comment.

While Adani Group previously dismissed the SEC’s accusations as “baseless,” it has also indicated plans to pursue “all possible legal recourse.”

In January 2025, the company appointed independent legal firms to conduct an internal review of the allegations.

The developments reflect increasing global scrutiny of multinational firms operating in both emerging and developed markets and highlight the challenges regulators face when seeking international legal cooperation.