America sought India’s help to prosecute Gautam Adani, know what is the matter

The US has sought help from India to prosecute several top officials of the group, including Gautam Adani and his nephew Sagar Adani. According to a Reuters report, the US agency SEC has sought help from India’s Law Ministry. The case is related to alleged manipulation of shares and bribery of $265 million. The US SEC is investigating the Adani Group. The SEC told a New York court that efforts are on to serve court notice to Gautam and Sagar Adani. Both live in India.

Last year, federal prosecutors in Brooklyn accused Adani and several group officials of bribing Indian officials. This bribe was given to buy electricity from Adani Green Energy. It was also alleged that Adani misled American investors. He gave false information about the company’s anti-corruption measures. The Adani Group has called these allegations baseless. The group says it will use all legal options.

What is the case
The SEC has said in its indictment that Gautam Adani, Sagar Adani and six others paid bribes worth $265 million to government officials in India between 2020 and 2024. This bribe was given to obtain lucrative solar power contracts. These contracts were expected to generate profits of $2 billion over 20 years.