Gautam Adani, Indian industrialist.
New York: Even though the US Justice Department has started a case against the Indian industrialist by so-called allegations, the US SEC will not be able to directly summon Gautam Adani in this case. For this, the SEC will have to send summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar through proper diplomatic channels in the alleged US $ 265 million (Rs 2,200 crore) bribery case.
Sources said the US Securities and Exchange Commission (SEC) has no authority to directly summon any foreign national. The SEC wants Adani to clarify its stand on allegations of paying bribes to win favorable solar power contracts. Two sources aware of the matter said that this request will have to be sent through the Indian Embassy in the US and other diplomatic formalities will have to be followed as per established protocol. He said that the US SEC has no authority over foreign citizens.
The case has been filed in New York court
According to sources, this summons is part of the SEC’s legal document filed before the New York court, and it will take some time to reach Adani. No summons has been served to Adani yet. The trial of Gautam Adani and seven other defendants, including his nephew Sagar, who is a director at the group’s renewable energy arm Adani Green Energy Ltd, began in a New York court on Wednesday. According to this, these people had agreed to pay bribes of approximately $265 million to Indian government officials between 2020 and 2024 to get favorable solar energy supply contracts. (Language)
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