US regulators say Indian authorities have not served formal summons to Gautam Adani

A legal case in the Eastern District of New York involving Indian billionaire Gautam Adani is facing persistent delays with the US Securities and Exchange Commission (SEC) informing a federal court that Indian authorities have not yet served formal summons to Adani and his associates.

The SEC’s latest status report, filed on August 11, pointed to procedural challenges in serving the summons, which must follow the Hague Service Convention. The civil lawsuit, filed last year, accused Gautam Adani, his nephew Sagar Adani, and others of securities law violations and misleading statements related to Adani Group activities.

The charges alleged a scheme to pay about $265 million in bribes to Indian government officials to secure solar power contracts. Prosecutors say this was hidden from US investors. The Adani Group has denied these claims, calling them baseless.

The status report showed that while the SEC has actively tried to move the lawsuit forward, progress has stalled due to procedural issues involving cross-border legal cooperation. In July, the SEC told the court that nearly four months after requesting help from India’s Ministry of Law and Justice, the summons had not been served.

The Law Ministry reportedly sent the request to a court in Ahmedabad, Gujarat, but the SEC has not received confirmation that the summons was issued. The SEC continues to communicate with the Indian Law Ministry and is pursuing service under the Hague Convention. However, as of August 11, Indian authorities have not completed service despite ongoing correspondence.

The SEC also sent Notices of Lawsuit and Requests for Waiver of Service of Summons directly to Adani’s legal counsel in India as an additional measure. The legal process follows an indictment unsealed in New York on November 22, 2024, charging Adani and others with bribery and fraud.

The indictment describes a bribery scheme from 2020 to 2024 to obtain solar power contracts from Indian state electricity distribution companies. The US claims jurisdiction as the Adani Group allegedly misled American banks and investors while raising billions for the solar project. The SEC’s civil action is separate from the criminal prosecution but is based on the same allegations.