The Indian billionaire Gautam Adani is grappling with serious US legal challenges on allegations of bribery concerning the award of solar power contracts. The U.S. Securities and Exchange Commission (SEC) has issued summons to Gautam Adani and his nephew, Sagar Adani, demanding they respond over charges that they made payouts of ₹2,200 crore as bribes to win solar contracts from the Indian government.
Summons were served at Gautam Adani’s farmhouse, Shantivan, in Ahmedabad and at Sagar Adani’s residence in Bodakdev, asking the two brothers to respond within 21 days. The SEC warned that failure to respond may turn into a default ruling. Accusations claim that the Adanis allegedly paid bribes to Indian officials between 2020 and 2024 for some of their sun-rich lucrative solar power deals.
Along with the Adanis, other executives from Adani Green Energy Limited have been named in the probe, including Gautam and Sagar Adani along with Cyril Cabanes of Azure Power Global. However, Adani Group has formally rejected the allegations, with Chief Financial Officer Jugeshinder Robbie Singh claiming the involvement of none of the 11 publicly listed Adani Group companies in the stock exchange with any form of illegal practice.