Gautam Adani of Adani group and his nephew Sagar Adani have been summoned by the US Securities and Exchange Commission to explain their stand on allegation of paying $265 million in bribes to secure lucrative solar power contracts, news agency PTI reported.
The summons were sent to the Adanis鈥� respective residences in Ahmedabad, with replies expected within 21 days, PTI reported, citing a November 21 notice dispatched through the New York Eastern District Court. A judgment by default will be entered against the Adanis if they do not respond on time, the notice said.
Representatives for the Adani Group did not immediately respond to requests for comment, Bloomberg聽reported.
鈥榃ithin 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,鈥� said the notice.
鈥業f 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,鈥� it added.
Gautam Adani and seven others, including his nephew Sagar Adani, a director at Adani Green Energy Limited, have been accused of paying approximately $265 million in bribes to the Indian government officials to secure solar energy contracts. According to an indictment unsealed in a New York court on Wednesday, the alleged bribes were paid between 2020 and 2024 to obtain contracts expected to generate $2 billion in profits over 20 years.
