Gautam Adani Latest News: The Ahmedabad session court may immediately send a notice to industrialist Gautam Adani as it received instructions from the Department of Justice, including a subpoena from the U.S. Securities and Exchange Commission (SEC), according to sources. In a letter addressed to the District Judge and Session Court in Ahmedabad on February 25, the Ministry of Justice, Ministry of Justice received a request from the US capital market regulator seeking legal assistance in providing summons to city industrial speeches. The US regulators have requested the Indian government to forward the summons to Adani to their Ahmedabad residence.
When contacted by Zee 24 Kalak, the district court registrar and prosecutor declined to comment given the nature of the judicial purported in question. According to sources, the Ahmedabad court has begun the process of sending notifications to Gautam Adani and is expected to be completed soon.
According to the letter, the New Delhi department is surrounded by two requests and other documents, asking for a “report on proof of service (with a second set of cases).” According to the documents, the response will be forwarded to the relevant foreign authorities.
“This issue requires communication with foreign authorities, so the report on proof of service is seriously required in English. Furthermore, in this case, the report of the enforcement officer/process server is in a regional language, so it is required to attach an English translation of the report,” read the communications from the department.
The issue relates to a US District Court case in which U.S. market regulators named Adani along with others, including his nephew Sagar Adani on allegations of bribery. Both Gautam Adani and Adani Group have already denied fraud in the matter.
Meanwhile, Adani and others are being charged under a law suspended by US President Donald Trump through an executive order on February 10th. According to the White House, the now enriched foreign bribery laws are “overexpanded and unpredictable” and are actively hurting “America’s economic competitiveness and therefore national security.”
November, The Eastern District Court of New York has explained their position on the US regulator’s charges that they summoned Gautam Adani and his ne Sagar and paid $265 million in bribery to secure a lucrative solar transaction. That notice dated November 21st had to submit a reply to the duo within 21 days of service of the subpoena (except for receipt date).
Adani and seven other defendants, including Sagar, director of Adani Green Energy for the group’s renewable energy unit, have allegedly agreed to pay Indian government officials about $265 million in bribes between 2020 and 2024 to secure favorable solar energy supply contracts under conditions expected to benefit over 20 years under a New York state court. A spokesman for the Adani Group later denied allegations made by the U.S. Department of Justice and the U.S. SEC against Adani Green’s directors, calling them “basically unfounded” and said the group would seek “all possible legal reliances.”
Who are the eight defendants?
According to US authorities, the defendants in this matter are:
- Gautam’s Adani
- Sagar S Adani
- vneet s jaain
- Ranjit Gupta
- Siril bag
- Saurav Agarwal
- Deepak Malhotra
- Rupesi Agarwal
Separately, the US SEC also charged Azure Power Global executives Two and Cyril Cabanes for “actions arising from a massive bribery scheme.”
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