The U.S. Securities and Exchange Commission has requested assistance from Indian authorities in its investigation of Adani Group founder Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme, a court filing showed on Tuesday.
The SEC told a New York district court that its efforts to serve its complaint to Gautam and Sagar Adani were ongoing and that it is seeking help from India’s Ministry of Law and Justice to do so.
Neither man is in U.S. custody, and they are currently located in India. Adani Group didn’t immediately respond to a Reuters request for comment, and the Indian government could not be immediately reached outside regular business hours.
- Read:No bribery charges against Gautam Adani, Sagar Adani, Vneet Jaain: Adani group
Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy, a subsidiary of his Adani Group conglomerate, and then misleading U.S. investors by providing reassuring information about the company’s anti-corruption practices.
Adani Group has called the allegations “baseless” and vowed to seek “all possible legal recourse.”
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