US Wants India’s Help In Adani Bribery Probe

India-West News Desk

NEW DELHI – The U.S. Securities and Exchange Commission (SEC) has sought assistance from Indian authorities in its investigation into Adani Group founder Gautam Adani and his nephew, Sagar Adani, over allegations of securities fraud and a $265-million bribery scheme, according to a court filing on February 18, Reuters reported.

Earlier this month, President Donald Trump signed an executive order suspending the Foreign Corrupt Practices Act of 1977 for at least 180 days, pending a review by the new U.S. Attorney General. However, with SEC’s latest court filing, it appears the order does not apply retroactively, meaning the probe into the Adanis is expected to continue unless legislative changes are made.

Sources familiar with the matter indicated that Indian authorities may take their time to act on the SEC’s request or may even seek substantial proof before moving forward with serving complaints to the Adanis. As a result, the legal process could be prolonged.

The regulator informed a New York district court that it is working to serve its complaint to Gautam and Sagar Adani and is seeking assistance from India’s law ministry under the Hague Service Convention. Neither individual is currently in U.S. custody, and both remain in India, Reuters stated.

Last week, Prime Minister Narendra Modi told reporters that he had not discussed the Adani case with ld Trump during his visit to Washington, calling it an individual matter not raised at the leadership level.

In 2023, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to secure contracts for Adani Green Energy, a subsidiary of the Adani Group. The indictment further alleges that Adani misled U.S. investors with reassurances about the company’s anti-corruption policies.