In a U.S. court, a $750-million bond fraud case has been filed. The United States Securities and Exchange Commission (SEC) has requested assistance from Indian authorities to serve legal notices to two senior executives of the Adani Group.
What’s happening:
The SEC is investigating an alleged $265 million bribery and securities fraud scheme involving Gautam Adani and his nephew, Sagar Adani.
Formal steps taken by the SEC:
The SEC has sent “Notices of Lawsuit and Requests for Waiver of Service of Summons” directly to the Adani executives and their lawyers. It has also asked India’s Ministry of Law and Justice to serve the legal documents under the Hague Service Convention, which ensures lawful delivery of such notices to foreign individuals. (Sources: The Economic Times, News9live, AND Now)
Current status:
Despite these efforts, India has not yet served the summons. The SEC informed a U.S. court that its request for assistance is still pending, and the notices remain undelivered. (Sources: Scroll.in, The Times of India)
Next steps:
The court has instructed the SEC to provide another status update by August 11, 2025, explaining what actions it has taken so far.
Key Summary
| Aspect | Details |
|---|---|
| Allegations | $265 million bribery and securities fraud linked to Adani Green Energy Ltd |
| Legal Process | SEC sent notices; India’s Ministry of Law requested to serve papers under Hague Convention |
| Current Status | Notices not yet delivered; process ongoing |
| Court Action | SEC must update the court on progress by August 11, 2025 |
