Adani Group Under Scrutiny: SEC Seeks India's Aid

The U.S. SEC has requested India's help in probing Adani Group founder Gautam Adani for securities fraud and bribery. Involved in a $265-million scheme, Adani faces accusations of misleading U.S. investors. Adani Group denies the claims and is pursuing legal recourse.

The U.S. Securities and Exchange Commission (SEC) has reached out to Indian authorities as part of its investigation into Adani Group's founder, Gautam Adani, and his nephew, concerning alleged securities fraud and a $265-million bribery scheme. This was detailed in a recent court filing on Tuesday.

The SEC has informed a district court in New York regarding its efforts to serve its complaint to Gautam Adani and Sagar Adani, his nephew. Assistance from India's law ministry is being sought as both individuals are currently in India and not in U.S. custody.

The SEC's request for assistance was made under the Hague Service Convention. While Adani Group has labeled the accusations as "baseless" and intends to explore all legal options, the case has sparked political debates in India, with the opposition demanding Adani's arrest.