Adani Bribery Case: Even After Hindenburg’s Exit, Gautam Adani’s Troubles Continue! US SEC Seeks India’s Help in $265M Probe

Adani Bribery Case: Gautam Adani is once again facing scrutiny in the ongoing Adani Bribery Case. Even though Hindenburg Research, the firm that accused Adani of financial misconduct, has shut down, a new challenge has emerged. The US Securities and Exchange Commission (SEC) has now sought help from the Indian government in its investigation into alleged bribery worth ₹2,029 crore ($265 million). This latest development suggests that Adani’s legal troubles are far from over.

US SEC Requests India's Assistance in Adani Bribery Case

According to reports, the SEC informed the New York District Court that since Adani is based outside the US, they need India’s cooperation to proceed with the case. The regulator has reached out to India's Ministry of Law and Justice under Article 5(a) of the Hague Service Convention. This legal provision allows international authorities to serve official notices in foreign jurisdictions. However, the Indian government has not yet responded to the SEC’s request regarding the Adani Bribery Case.

Allegations Against Gautam Adani and His Associates

On November 20, 2024, a US court accused Gautam Adani, his nephew, and several others of paying ₹2,029 crore ($265 million) in bribes. The allegations suggest that these payments were made between 2020 and 2024 to secure solar energy contracts with state electricity distribution companies. Since these claims surfaced, the opposition in India has intensified its criticism of the Adani Group, questioning its business practices.

Adani Group Denies Bribery Allegations

Following the allegations in the Adani Bribery Case, the Adani Group strongly refuted the claims. The company released a statement asserting that all its business dealings have been transparent and in compliance with regulatory norms. Adani’s legal team has also emphasised that these accusations are unproven and lack substantial evidence.

The case has sparked political debates in India, with opposition leaders demanding a thorough investigation. While the Adani Bribery Case continues to unfold, all eyes are now on how the Indian government will respond to the SEC’s request.