The U.S. Securities and Exchange Commission has asked Indian authorities for help in its investigation of Adani Group founder Gautam Adani and his nephew over alleged securities fraud and a $265-million bribery scheme,

Narendra Modi government in India is in hot water, after the US Securities and Exchange Commission (SEC) revealed that it has approached New Delhi under the Hague Service Convention for assi

The tycoon and a nephew of his are under investigation in the US for allegedly being involved in a US$265 million bribery scheme.

The US SEC told a New York district court on Wednesday that as the Adanis are based out of India, the regulator had sought help from India’s law ministry to serve its complaint to the Ahmedabad-based business tycoon.

Adani group stocks traded mixed on Wednesday after a Reuters report said the U.S. SEC sought India’s help in its fraud probe against Gautam and Sagar Adani. While some stocks fell, others saw modest gains.

US federal prosecutors have accused Gautam Adani of bribing Indian government officials to buy electricity from Adani Green Energy

The US Securities and Exchange Commission (SEC) on Tuesday has sought assistance from Indian authorities in its investigation into Adani Group chairman Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme,