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According to Forbes Real Time Billionaires List, 62 year old Gautam Adani’s wealth is $ 56.8 billion (Rs 4.79 lakh crore).
Adani Group Chairman Gautam Adani and his nephew Sagar Adani have been summoned by the US Securities and Commission (SEC) on Saturday. The US SEC has summoned Adani to clarify his stand on the allegations of bribery and fraud leveled against him.
According to the news agency, summons have been sent to Adani’s Shantivan Farm House in Ahmedabad and his nephew Sagar’s Bodakdev Residency in the same city to reply to the SEC within 21 days.
The notice, sent through the New York Eastern District Court, states that ‘Within 21 days after service of this subpoena (not including the date on which you receive this subpoena), you must respond to the attached complaint to the Plaintiff (SEC) or the Federal A motion must be served under Rule 12 of the Rules of Civil Procedure.
If it fails to respond, judgment will be taken against Adani for the relief sought in the complaint. The reply will have to be filed in the court.
8 people including Gautam Adani accused of fraud worth billions of rupees In fact, on November 21, 8 people including industrialist Gautam Adani have been accused of fraud worth billions of rupees in America. The United States Attorney’s Office says that Adani paid or was planning to pay bribes of $ 265 million (about Rs 2200 crore) to Indian officials to get contracts related to solar energy in India.
This entire matter is related to Adani Group company Adani Green Energy Limited and another firm. This case was registered in the Federal Court of New York on 24 October 2024. In its hearing on Wednesday, Gautam Adani, his nephew Sagar Adani, Vineet S Jain, Ranjit Gupta, Cyril Cabenis, Saurabh Aggarwal, Deepak Malhotra and Rupesh Aggarwal have been made accused.
According to Reuters report, arrest warrants have also been issued against Gautam Adani and Sagar. Sagar is an officer of Adani Green Energy Limited.
American investors’ money, hence the case there Adani is accused of lying to American investors and banks to collect this bribe money. The case was registered in America because the money of American investors was invested in the project and under American law, giving that money as bribe is a crime.
Controversy related to Gautam Adani…
First controversy: Hindenburg Research accused of money laundering : It is from January 2023. Gautam Adani’s flagship company Adani Enterprises announced a follow-on public offer of Rs 20,000 crore. This offer was to open on January 27, 2023, but just before that, on January 24, 2023, Hindenburg Research released a report, in which Adani Group was accused of money laundering and share manipulation.
By January 25, the market value of the group’s shares reduced by about $ 12 billion (about Rs 1 lakh crore). However, Adani denied allegations of any wrongdoing. In such a situation, Adani Group also canceled its follow-on public offer of Rs 20,000 crore. The Supreme Court formed a 6-member committee to investigate the case and SEBI also investigated the case.
After the court’s decision, Adani Group Chairman Gautam Adani had said, ‘The court’s decision shows that truth has won. Satyamev Jayate. I am grateful to those who stood with us. Our contribution to India’s growth story will continue. Jai Hind.’