The US Securities and Exchange Commission (SEC) has summoned Adani Group chief Gautam Adani and his nephew Sagar Adani on charges of bribery. This case has now become the center of international attention, in which the Adani Group is accused of bribing Indian government officials to obtain solar power contracts.

The seriousness of the allegations: Bribery case

According to the SEC summons, Gautam Adani and his nephew Sagar Adani along with seven other directors of Adani Green Energy Limited are accused of paying bribes worth approximately US$265 million (₹2,200 crore) to Indian government officials. It is alleged that this bribery was done between 2020 and 2024 so that they could get solar power supply contracts. Through these contracts, the Adani Group received favorable terms and beneficial agreements.

SEC subpoena and court action

SEC has sent a summons on November 21 regarding this matter, in which Gautam Adani and his nephew Sagar Adani have been directed to submit their reply before the court within 21 days. The summons also states that if they fail to respond, the court can take a decision against them.

This case in the US court is the biggest legal action so far, which is going on against the Adani Group and its officials. After appearing before the US court, a big legal crisis has arisen in front of them, because if the allegations are proved right, they may have to face heavy fines and legal punishment.

What is the solar energy contract game?

This case is specifically related to the solar energy sector, which is being considered an important step towards green energy across the world. The Adani Group, which is a leader in the field of renewable energy, is accused of paying bribes for these contracts. The question also arises whether such contracts created a level playing field for other companies and investors or not.

Impact on India-US trade relations

This case is important not only for the Adani Group but also for India-US trade relations. If the allegations are proven true, it could adversely affect India's business and investment environment, especially from the point of view of American investors and companies.

Adani Group's response

Although the Adani Group has completely denied these allegations and called them politically motivated allegations, now that the case is in the US court, the Adani Group will get an opportunity to give its clarification.

After all, it is not just a matter of Adani Group but also of the Indian business environment and international investors who will be keeping an eye on it.