Indian billionaire Adani summoned by US SEC to explain bribery case

According to a report by Golden Finance, Indian billionaire Gautam Adani and his nephew Saagar Adani have been summoned by the US Securities and Exchange Commission (SEC) to explain allegations of paying bribes exceeding $250 million to win a solar power contract. According to the Press Trust of India (PTI), the subpoena has been delivered to the Adani family’s residence in Ahmedabad, a western city in India, and they are required to respond within 21 days. PTI cited a notice issued by the Eastern District Court of New York on November 21, stating that if the Adani family fails to respond on time, a default judgment will be made against them.

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