Arrest Warrant against Gautam Adani by US Court? | Allegations of ₹2100 Crore Bribery?

Gautam Adani is in the news again, and again it is coming from the US. US Court, along with investigation through SEC & FBI has put some serious allegations against Gautam Adani, his nephew Sagar Adani & one of his top business heads Vinnay Jaain.

This case pertains back to 2019-2020 where a US issuer and a solar company of Adani group got together and started to push SECI, a government organization that looks after the solar power sector in India. Both these companies want SECI to look for buyers for the solar power supply they have to offer.

Going ahead, this search ends up in bribing officials across 5 different states of India including Andhra Pradesh, J&K, Tamil Nadu, Orissa and Chhattisgarh. The bribe allegedly valued around INR 2100 Crore.

Apart from that, the court order also says that Adani has violated multiple regulations of SEBI when the group raised $1.3 Billion via loans from US financial institutions and then $750 Million through a bond offer to investors including retail investors.

This money was raised by falsely acknowledging that Adani group is not involved in any bribery related cases.

Here is the order copy: www.sec.gov/files/litigation/complaints/2024/comp-…

Then there were blunders such as self recording all the bribes data on their phones, Gautam Adani emailing search warrant to himself and then adani group saying that there is no such warrant to SEBI and the biggest blunder was the acceptance of the bribery by the partners at the US issuer firm against Adani.

As of now, US courts have put 5 cases against all the individuals combined and 3 of them are pointed at Adani and related individuals or entities.

Currently, these are allegations and we can only assume that Adani group will fight out these concerns against the US court in due time. If proven, there are high chances of arrest and huge penalties.

Only time will tell what happens from here.

Watch this video to understand the whole story.

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0:00 - Introduction
0:20 - Allegations by US Court
1:15 - Background Story
2:30 - Why Adani Approached SECI?
3:14 - Twist in the Tale - 1
6:23 - Blunders
7:25 - Funds Raised by Adani in US
8:30 - Anti-bribery Misleading Statements
8:51 - SEC sends Enquiry Notice
9:55 - Search Warrant against Sagar Adani
11:02 - Conclusion