The Securities and Exchange Board of India has moved on a U.S. federal court indictment against Gautam Adani and several other Adani Group officials for their alleged role in a fraud scheme against U.S. investors, including false representations and concealing allegations of kickbacks at state solar companies. will consider throwing. Energy projects will be possible only if cooperation is sought under the bilateral inter-regulator memorandum of understanding with the US Securities and Exchange Commission, a senior SEBI official told Informist on the sidelines of an event held in Mumbai today.

The US SEC said in a press release on Wednesday that it had charged Gautam Adani and Sagar Adani in their capacity as public officials. Adani Green Energy Ltd.“for conduct resulting from a massive bribery scheme”. Considering the allegations, SEBI will soon decide whether its intervention is necessary under the inter-regulatory cooperation agreement with the SEC, the official said.

According to the SEC, “the bribery scheme was orchestrated to ensure that two renewable energy companies benefited from a multibillion-dollar solar project awarded to the companies by the Indian government.”

At the time of the alleged scheme, “Adani Green raised more than $175 million from U.S. investors and shares of Azure Power were traded on the New York Stock Exchange,” the SEC said in a press release. The US market regulator also charged Cyril Cabanes, a director of Azure Power Global Ltd, for the same conduct resulting from the alleged bribery.