Despite repeated requests, Indian authorities have yet to deliver the summons in the high-stakes civil securities case filed in New York last year. he Adani Group denies all allegations, as the SEC pursues formal service under the Hague Convention.
BY PC Bureau
August 12, 2025 — The US Securities and Exchange Commission (SEC) has told a federal court in New York that it is still awaiting assistance from India’s Ministry of Law and Justice (MoLJ) to formally serve legal summons to billionaire Gautam Adani and his nephew, Sagar Adani, in connection with a civil securities fraud case filed last year.
In a status update submitted on August 11 to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said its request remains pending with Indian authorities. The update was nearly identical to the report it filed at the last hearing on June 27, suggesting no tangible progress in serving the defendants.
The case concerns allegations that Gautam Adani, chairman and founder of the Adani Group, and his nephew Sagar Adani were involved in a scheme to pay approximately USD 265 million in illicit inducements to secure highly lucrative renewable energy supply contracts. The SEC alleges the payments violated US securities laws. The Adani Group has vehemently denied all charges, calling them “baseless” and “motivated.”
Because both defendants are based in India, the SEC cannot directly compel them to appear in US court. Instead, it must rely on formal diplomatic channels as laid out under the Hague Service Convention, an international treaty that governs cross-border legal notifications.
The filing noted:
“The Indian authorities have not yet effected service to our request for serving the summons.”
The SEC said it “intends to continue communicating with the India MoLJ” and will persist in seeking service under the treaty’s provisions. It also assured the court it would keep it informed of developments.
No date has been fixed for the next hearing. Until the summons is formally served, the case cannot proceed to the next stage in the US legal process.
The SEC informs the U.S. District Court for Eastern District of New York that Modi Government has not yet served the Summons and Complaint to Gautam Adani.
The @SECGov should understand that Gautam Adani is Narendra Modi’s close pal (bff).
Non-servicing of summons and… pic.twitter.com/YV3EVbsYCh
— Raju Parulekar (@rajuparulekar) August 12, 2025
The SEC’s latest filing underscores the complexities of cross-border litigation when foreign nationals are involved, especially in high-profile corporate cases spanning multiple jurisdictions.
Allegations & Scheme Overview
- The U.S. Securities and Exchange Commission (SEC) has filed a civil securities fraud suit, accusing Gautam Adani and Sagar Adani of orchestrating a USD 265 million bribery scheme to secure lucrative solar energy contracts from Indian state entities
- These contracts, facilitated by Adani Green Energy and Azure Power Global, were projected to yield billions in profits over 20 years. The SEC alleges that the bribery was concealed from investors, including during U.S. bond and note offerings Legal Claims
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- The SEC’s complaint alleges violations of:
- Section 17(a) of the Securities Act of 1933
- Section 10(b) of the Securities Exchange Act of 1934
- Rule 10b-5
- As well as aiding and abetting related violations
- Remedies sought include injunctions, civil penalties, and officer/director bars
Criminal Indictment Parallel
- A criminal indictment was also filed in the U.S. District Court for the Eastern District of New York, accusing Gautam Adani, Sagar Adani, and several executives of:
- Securities and wire fraud
- Conspiracy under the Foreign Corrupt Practices Act (FCPA)
- Mail/wire fraud, and conspiracy to obstruct justice.READ:
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Evidence & Investigative Findings
- U.S. investigators allege meticulous planning and documentation of the bribery scheme:
- Mobile communications, photos, and spreadsheets chronicle payments and concealment strategies
- Code names like “Mr. A” and “Numero uno” were reportedly used for discussions about bribes
Market & Investor Impact
- The allegations triggered swift market fallout:
- Adani Group shares fell sharply.
- A planned $600 million U.S. bond issue was canceled by Adani Green Energy
- International knock-on effects included cancellation of Kenyan contracts
Broader Context
- The case builds on broader scrutiny of the Adani Group, including:
- Allegations of stock manipulation and accounting fraud spotlighted by Hindenburg Research
- Earlier concerns about the Group’s high leverage and governance raised by rating agencies and regulators
The SEC’s civil case, combined with a parallel criminal indictment, alleges that Gautam and Sagar Adani orchestrated a complex scheme involving bribery, deception of investors, and concealment of misconduct, pursuant to U.S. securities and anti-corruption laws. The evidence includes digital trail documentation and investor communications, and allegations have reverberated across markets worldwide.
