Indian billionaire Gautam Adani and his nephew Sagar Adani were summoned by the US Securities and Exchange Commission to explain allegations that they paid more than US$250mil (RM1.17bil) in bribes to win solar-power contracts, Press Trust of India reported.
The summonses were sent to the Adanis’ respective residences in the western Indian city of Ahmedabad, with replies expected within 21 days, PTI said, citing a Nov 21 notice dispatched through the New York Eastern District Court.
A judgment by default will be entered against the Adanis if they don’t respond on time, the notice said.
Representatives for the Adani Group didn’t immediately respond to requests for comment outside business hours.
On Nov 20, US prosecutors announced a criminal indictment against the two Adanis and others in relation to the bribery allegations, while the SEC separately charged them in a civil case.
The Adani Group denied wrongdoing. — Bloomberg
