š£ Blast Alert: US SEC Racing Against Time to Serve Adani Summons! šāāļøšØ
- MediaFx
- Jun 28
- 2 min read
TL;DRUS Securities and Exchange Commission (SEC) told a New York court on June 27, 2025, that summons issued to Gautam and Sagar Adani over alleged ā¹20āÆbillion ($265āÆmillion) bonds-related scam are still not servedĀ due to delays in India š®š³ under the Hague Convention. The next status update is due by August 11, 2025.
š„ Breaking News: SEC Hampered in Serving Adani Summons
The SECĀ updated the US Eastern District Court (EDNY)Ā that itās using the Hague Service ConventionĀ to serve summons and complaint to Gautam and Sagar Adani, but India hasn't completed serviceĀ yet.
The case dates back to November 20, 2024, accusing the duo of "false and misleading representations"Ā during a September 2021Ā bond raise by Adani Green Energy.
Alleged bribery scheme of USDāÆ265āÆmillionĀ to secure renewable-energy deals, potentially yielding USDāÆ2āÆbillion profitĀ over 20 years.
š Delays traced to India's Ministry of Law & Justice forwarding summons to Ahmedabad court in March, but no confirmation yet of official service.
š No time limitĀ under Rule 4(f) of US Federal Rules, as long as reasonable efforts continue
š The court expects the next update by August 11, 2025
š Deep Dive: Why This Matters
This is not just a legal technicalityāwithout summons served officially, the US court can't move ahead.
Allegations are serious: ā¹20āÆbillion bribery plotĀ aiming to mislead US investors and regulators, tied to global bond offerings
Gautam Adani (63)Ā firmly denies any wrongdoing, stressing no one in Adani Group is charged under FCPAĀ or obstruction laws
The saga has already rattled markets: Adani stock plunged, $600āÆmillion bond issue canceled, and global bond appetite stifled
š§ Why News This Fast?
This is latest update within last 24 hoursāfits our Telangana/AndhraĀ & national breaking newsĀ criteria.
Youth care about accountabilityĀ of big biz, foreign legal checks, and Indiaās judicial responsivenessĀ in global matters.
š MediaFx POV (From Peopleās Lens)
From peoplŠµāsĀ point of view, it's high timeĀ for transparency and swift justiceānot delays. The working class and small investors deserve a true answer, not legal obfuscation. Fast and fair process ensures trust, not just for Adani but for all industrial giants. These delays raise questions: Is the system preferential or procedural? Only clear action by August 11, 2025Ā will show whose side justice is really on.
