Adani Group Faces U.S. Bribery Charges Over $265 Million Allegations

The SEC and DOJ accuse Gautam Adani and others of orchestrating a bribery scheme to secure solar energy contracts, triggering legal and financial fallout.

The U.S. SEC and Department of Justice have charged Gautam Adani, his nephew Sagar Adani, and others with paying $265 million in bribes to Indian officials to secure solar power contracts worth $2 billion in profits over 20 years.
The SEC alleges the Adani Group misled investors during a $750 million bond offering by falsely promoting adherence to anti-bribery laws.
Summonses for Gautam and Sagar Adani were issued through a New York court, but must follow diplomatic channels to be served, as the SEC lacks direct jurisdiction over foreign nationals.
The Adani Group denies all allegations, calling them baseless, and has committed to pursuing all legal options to defend its operations and reputation.
The charges have caused significant financial repercussions, including a steep decline in Adani Group's market value and the cancellation of a major airport project in Kenya.