New Delhi: The bribery allegations against the Adani Group have now reached the Supreme Court. A new petition has been filed demanding an investigation into the matter by Indian agencies. The petition alleges that the US court's indictment and the SEC's complaint make serious allegations of bribery of Indian government officials by Gautam Adani and his associates, which should be seriously investigated by Indian investigative agencies.

This petition has been filed in the Supreme Court by advocate Vishal Tiwari. Tiwari is the same advocate who led the petitions filed against the Adani Group after the Hindenburg report. The new petition alleges that the alleged acts of corruption committed by the Adani Group are "serious" and need to be investigated by Indian agencies so that the sovereignty and economic security of the country are maintained.

Questions raised on SEBI, demand for investigation results

The petition also raises questions on the functioning of the Indian market regulator SEBI. The petition argues that despite the Supreme Court ordering SEBI to investigate the Adani Group in March 2023, the results of the investigation have not been disclosed yet, which is reducing the confidence of investors. The petition demands that the findings of SEBI's investigation be made public so that investors' confidence can be restored.

In March 2023, the Supreme Court ordered SEBI to investigate the allegations against the Adani Group of manipulation of stock prices, violation of securities contract rules, and non-disclosure of transactions of related parties. But till now no information on SEBI's investigation has been made public, which has created confusion and doubt among investors.

Bribery allegations in US court order

The petition also cites the indictment of the US court, which alleges bribery against Gautam Adani, Sagar Adani, did not know about, and Vaneet Jain. According to the US court, the Adani Group had offered $265 million (about ₹ 2236 crores) to bribe Indian government officials.

The Adani Group is accused of personally meeting government officials and offering them bribes. Apart from this, the petition also claims that Adani and his associates misled the market and investors about the US investigation. According to the US court order, Gautam Adani was aware of the US Justice Department's investigation in March 2023, but Adani Green claimed in a letter sent to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in March 2024 that he had no knowledge of the ongoing investigation.

Adani Group's denial

Adani Group has denied this allegation. The group's CFO said that some disclosures about the US investigation have already been made, and he also said that Adani Group has never tried to engage in any kind of corruption or bribery.