In a development that has captured attention across global markets and regulatory circles, representatives of billionaire Gautam Adani have reportedly held meetings with former officials from President Donald Trump’s administration. According to a Bloomberg News report citing sources familiar with the matter, these discussions aim to secure the dismissal of criminal bribery charges filed in the United States.
The roots of this legal episode trace back to a 2023 indictment. U.S. authorities accused Gautam Adani and his nephew, Sagar Adani, of paying significant bribes to Indian officials between 2020 and 2024. These payments allegedly aimed to secure solar power contracts that could generate $2 billion in profit over two decades.
According to Reuters, the U.S. Securities and Exchange Commission (SEC) has also reached out to India’s Ministry of Law and Justice, seeking cooperation in investigating the alleged $265 million bribery scheme and accompanying securities fraud.
In November, federal prosecutors in Brooklyn formally indicted Gautam Adani and Sagar Adani. The indictment claimed that the duo orchestrated bribes to influence the purchase of electricity from Adani Green Energy by Indian officials. These bribes were allegedly undisclosed to U.S. investors during a significant $750 million bond offering by the company.
The SEC noted: “Adani Green and the defendants also emphasised to underwriters and potential investors that Adani Green had implemented robust anti-bribery and anticorruption processes and that Adani Green was a leader in India in good corporate governance. None of this was true.”
The complaint stated that Adani Green Energy Ltd raised $2 billion from U.S. and global investors based on what the SEC alleges were misrepresented facts.
The SEC issued formal summonses to Gautam Adani and Sagar Adani. 0 or a motion under Rule 12 of the Federal Rules of Civil Procedure.”
It further warned: “If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint.”
Read More: Adani Green Shares Gain for 2nd Straight Day; Operational Capacity Surges 30% in FY25.
The Adani Group has rejected the allegations outright, stating the accusations are “baseless” and asserting that it will pursue “all possible legal recourse.”
According to Bloomberg News, the Adani team has been engaging with officials from Donald Trump’s administration in an attempt to have the case dismissed. These talks reportedly began earlier this year and have gained momentum recently. “Adani’s representatives are trying to make the case that his prosecution doesn’t align with President Donald Trump’s priorities and should be reconsidered,” a source told Bloomberg.
The report suggests that if discussions continue at their current pace, a resolution may be achieved within the coming month.
While the legal and political implications of this case are still unfolding, the situation highlights the complex intersection of corporate governance, cross-border regulation, and geopolitical influence. As both the SEC and the Adani Group prepare for their respective legal courses, the outcomes of these engagements could have far-reaching implications for foreign-listed Indian conglomerates.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: May 5, 2025, 3:01 PM IST
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