📣 Blast Alert: US SEC Racing Against Time to Serve Adani Summons! 🏃♂️💨
TL;DRUS Securities and Exchange Commission (SEC) told a New York court on June 27, 2025, that summons issued to Gautam and Sagar Adani over alleged ₹20 billion ($265 million) bonds-related scam are still not served due to delays in India 🇮🇳 under the Hague Convention. The next status update is due by August 11, 2025.
The SEC updated the US Eastern District Court (EDNY) that it’s using the Hague Service Convention to serve summons and complaint to Gautam and Sagar Adani, but India hasn't completed service yet.
The case dates back to November 20, 2024, accusing the duo of "false and misleading representations" during a September 2021 bond raise by Adani Green Energy.
Alleged bribery scheme of USD 265 million to secure renewable-energy deals, potentially yielding USD 2 billion profit over 20 years.
📌 Delays traced to India's Ministry of Law & Justice forwarding summons to Ahmedabad court in March, but no confirmation yet of official service.
📌 No time limit under Rule 4(f) of US Federal Rules, as long as reasonable efforts continue
📌 The court expects the next update by August 11, 2025
This is not just a legal technicality—without summons served officially, the US court can't move ahead.
Allegations are serious: ₹20 billion bribery plot aiming to mislead US investors and regulators, tied to global bond offerings
Gautam Adani (63) firmly denies any wrongdoing, stressing no one in Adani Group is charged under FCPA or obstruction laws
The saga has already rattled markets: Adani stock plunged, $600 million bond issue canceled, and global bond appetite stifled
This is latest update within last 24 hours—fits our Telangana/Andhra & national breaking news criteria.
Youth care about accountability of big biz, foreign legal checks, and India’s judicial responsiveness in global matters.
From peoplе’s point of view, it's high time for transparency and swift justice—not delays. The working class and small investors deserve a true answer, not legal obfuscation. Fast and fair process ensures trust, not just for Adani but for all industrial giants. These delays raise questions: Is the system preferential or procedural? Only clear action by August 11, 2025 will show whose side justice is really on.
#Adani #SEC #Bribery #HagueConvention #BondFraud
Sources
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