Bad news for Gautam Adani, US requests assistance from India in alleged bribe case, says Indian authorities ‘have not yet…'
The US Securities and Exchange Commission (SEC) told a federal court in New York that it has requested assistance from India's Ministry of Law and Justice to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last year.
The status update filed on August 11 is the same as the last hearing on June 27. What SEC Informed US Court In Adani Case?
In the latest update submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said it is continuing to pursue formal service of the summons and complaint under the provisions of the Hague Service Convention.
The defendants, who are based in India, are yet to be officially served with the summons.
The US SEC has to serve the summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar in the alleged USD 265 million payoffs to win lucrative renewable power supply contracts through proper diplomatic channels, as it has no jurisdiction to summon a foreign national directly. What SEC Said About Indian Authorities?
SEC said the Indian authorities 'have not yet effected service' to its request for serving the summons.
'The SEC intends to continue communicating with the India MoLJ and pursue service of the defendants via the Hague-Service Convention, and will the court apprised of its efforts,' the filing said. No dates for the next hearing were mentioned.
The Adani group has already denied all charges.
(With Inputs From PTI)
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