US SEC summons Gautam Adani, nephew Sagar in alleged bribery case

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US SEC summons Gautam Adani, nephew Sagar in alleged bribery case - Business Standard

Quick Summary:

Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying USD 265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts.

Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.

Gautam Adani, 62, and seven other defendants, including his nephew .