Adanis agree to accept summons in US fraud case
Business
Gautam and Sagar Adani have now agreed to accept official summons in a US civil fraud case.
The SEC alleges they hid a bribery scheme involving payments to Indian officials for contracts with Adani Green Energy Ltd (AGEL), especially during a bond offering to US investors (date/amount not specified in source).
Federal prosecutors have filed related criminal charges (date not specified in the source).
Case stalled for over a year
For over a year, the case stalled because the summons couldn't be delivered—until Adani's legal team stepped in this January, saying they're ready to cooperate.
While AGEL itself isn't charged and continues business as usual, the Adani Group calls the accusations "baseless" and plans to fight them in court.