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US Securities and Exchange Commission issues summons for Gautam Adani, nephew on bribery allegations

Adani Group

A man walks past a corporate office of Adani Group in Gurugram, India, November 22, 2024. 

Photo credit: Priyanshu Singh | Reuters

The US Securities and Exchange Commission has issued a summons to Indian billionaire Gautam Adani, indicted on US bribery allegations related to a bombshell federal indictment against him, a court filing showed.

The SEC is suing the head of the Adani Group and his nephew Sagar Adani, alleging they engaged in hundreds of millions of dollars in bribes to help an Adani company while "falsely touting the company’s compliance with antibribery principles and laws in connection with a $750 million bond offering."