Overview

• The SEC informed the U.S. District Court for the Eastern District of New York on June 27 that summons for Gautam Adani and Sagar Adani have not been served.
• India’s Ministry of Law and Justice forwarded the documents in early March to Gujarat’s District & Sessions Court in Ahmedabad but has not confirmed formal service.
• The civil case alleges the Adanis made false and misleading statements in Adani Green Energy’s September 2021 bond offering.
• A related indictment accuses the siblings and others of arranging about $265 million in bribes to secure solar energy contracts.
• The next status report on service efforts under the Hague Service Convention is due by August 11, keeping the U.S. case on hold.