Bribery case: Fresh plea in SC seeks inquiry into US indictment of Gautam Adani

A fresh plea has been filed in the Supreme Court seeking an inquiry into the indictment of Adani group founder and chairman Gautam Adani, who has been charged in the US for alleged bribery and fraud.
The plea, filed by advocate Vishal Tiwari, is an interlocutory application in the batch of pleas in the Adani-Hindenburg row over allegations of stock price manipulation by the Indian company.
The US Department of Justice has accused Gautam Adani of being part of an elaborate scheme to pay $265 million (about ₹2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts in four Indian states.
In his plea, Tiwari contended that the allegations against Adani are of “serious nature” and should be investigated by the Indian authorities.
“The SEBI has to inspire confidence by concluding the investigations and placing on record the report and conclusion of the probes. As there were allegations of short selling in the SEBI investigation and the present allegations levelled by the foreign authorities might have connection or may not have, but SEBI’s investigation report should clear this so that the investors may not loose confidence,” the plea said.
The US Securities and Exchange Commission (SEC) has summoned Gautam Adani and his nephew Sagar to explain their stand on allegations of paying $265 million ( ₹2,200 crore) in bribes to get lucrative solar power contracts.
Summons were sent to Adani’s Shantivan Farm residence and Sagar’s Bodakdev residence in Ahmedabad.
The regulator has asked them to reply within 21 days.
“Within 21 days after service of this summons on you (not counting the day you received it)…you must serve on the plaintiff (SEC) an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure,” said a November 21 notice sent through the New York Eastern District Court.
“If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court,” it added.
62-year-old Gautam Adani and seven other defendants, including Sagar, who is a director at Adani Green Energy Ltd, allegedly agreed to pay about $265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that expected to yield $2 billion of profit over 20 years, according to an indictment unsealed in a New York court on Wednesday.
Separate from the indictment brought by the US Department of Justice, the US SEC has also charged the two and Cyril Cabanes, an executive of Azure Power Global, for “conduct arising out of a massive bribery scheme”.
An indictment in the US is basically a formal written allegation originating with a prosecutor and issued by a grand jury against a party charged with a crime.
However, Adani group has denied allegations and said it will seek all possible legal resources.
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation fully compliant with all laws.”
Prosecutors said the investigation started in 2022 and found the inquiry obstructed.
They alleged that Adani Group raised $2 billion in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm’s anti-bribery practices and policies, as well as reports of the bribery probe.
“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and… lied about the bribery scheme as they sought to raise capital from U.S. and international investors,” US Attorney Breon Peace said in a statement announcing the charges on Wednesday.
“My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets.”