- A plea in India’s Supreme Court seeks a probe into bribery allegations involving Adani Group, following claims of $265 million in bribes.
- The U.S. indictment accuses Adani and associates of bribing Indian officials to secure benefits, while the Supreme Court is urged to ensure transparency in market investigations.
- The plea questions SEBI’s delay in investigating Adani Group’s stock manipulation, calling for immediate disclosures to restore investor trust.
The ongoing controversy surrounding Gautam Adani’s alleged bribery scheme has now reached India’s Supreme Court. A fresh plea, citing a U.S. court indictment, demands an investigation by Indian agencies into claims that Adani and his associates bribed government officials with $265 million (₹2,236 crore).
Filed by advocate Vishal Tiwari, the plea highlights the serious nature of these allegations and stresses the need for a thorough investigation. The plea also questions the delay in the Securities and Exchange Board of India’s (SEBI) investigation into the Adani Group’s alleged market manipulation, stock violations, and undisclosed transactions, which the Supreme Court had ordered in March 2023.
While SEBI handles securities violations, the bribery case falls under the jurisdiction of the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED). The plea argues that public disclosure of ongoing investigations is crucial to maintaining transparency and restoring confidence in India’s financial markets.
