SEC Expands Adani Investigation Amid India Tensions

The U.S. Securities and Exchange Commission (SEC) has requested assistance from India's Ministry of Law and Justice to investigate allegations of securities fraud and a $265 million bribery scheme involving Gautam Adani and his nephew Sagar Adani. This follows an indictment unsealed by federal prosecutors in Brooklyn, accusing the Adanis of bribing Indian officials to secure solar energy contracts and misleading U.S. investors about anti-corruption practices. The SEC is seeking to serve its complaint to the Adanis, who are currently in India and not in U.S. custody. Adani Group has denied the allegations, describing them as 'baseless' and promising to pursue all legal avenues. This development comes shortly after Indian Prime Minister Narendra Modi's visit to Washington, where he reportedly did not discuss the Adani issue with U.S. President Donald Trump. Meanwhile, domestic political tensions in India have risen, with Congress leader Rahul Gandhi accusing Modi of protecting Adani.