US SEC will have to serve the summons on Adani Group Founder and Chairman Gautam Adani and his nephew Sagar in the alleged USD 265 million (Rs 2,200 crore) payoffs through proper diplomatic channels as it has no jurisdiction to summon a foreign national directly, according to sources.
US Securities and Exchange Commission (SEC) wants Adanis to explain their stand on allegations of paying bribes to secure lucrative solar power contracts but that request will have to follow the established protocol of routing it through the Indian Embassy in the US and following other diplomatic formalities, two sources aware of the matter said.
The US SEC has no jurisdiction over foreign nationals and cannot send anything by post to them.
The 1965 Hague Convention and the Mutual Legal Assistance Treaty between India and the US governs such matters. These clearly lay out the established procedure to be followed in such requests.
The summons, which is part of the legal docket that SEC filed before a New York court, will take some time before it can actually be served on the Adanis, they said.
This story is from the November 25, 2024 edition of The Daily Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 25, 2024 edition of The Daily Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Odisha swimmers shatter records, shine at South Africa Championships
Odisha swimmers Shristi Upadhaya and Mannata Mishra recently created waves in the KwaZulu-Natal (KZN) Short Course Swimming Championships, South Africa where they created new best Indian Performance in women's 100m butterfly and 100m breaststroke categories respectively.
India shines with 33 medals at Asian Youth and Junior Weightlifting Championships
The Indian contingent concluded their campaign at the Asian Youth and Junior Weightlifting Championships 2024 in Doha, Qatar, on Wednesday, securing an impressive total of 33 medals, according to Olympics.com.
Maheshwari-Anantjeet win skeet mixed team national title
The duo of Maheshwari Chauhan and Anantjeet Singh Naruka rounded off a good year by winning the skeet mixed team title for their home state Rajasthan in the National Shooting Championship here on Wednesday.
Bumrah Hits Joint-Highest ICC Rating for Indian Test Bowlers
Bumrah solidified his top spot in the Test Bowling Rankings following an outstanding performance in Brisbane, where he earned 14 rating points for his 9/94 haul.
Cummins reveals Head 'good to go', confirms Boland, Konstas for playing XI
Ahead of the fourth Test against India at Melbourne, Australian skipper Pat Cummins confirmed that left-handed batter Travis Head is fit to play, following a minor quad strain in the Brisbane Test and pacer Scott Boland will replace injured Josh Hazlewood.
ROHIT SHARMA LIKELY TO OPEN AT MCG. KL RAHUL LIKELY AT NO. 3
Indian skipper Rohit Sharma is likely to open during the fourth Test against Australia at Melbourne Cricket Ground (MCG), a Boxing Day affair starting from Thursday, as per reports.
Altair® RapidMiner® Unlocks Next-Level Capabilities With Advanced AI Agent Framework
Platform empowers users to seamlessly build and deploy advanced AI agents
What will be your criteria to select the test automation tool?
Selecting the right test automation tool in today's market can feel like a daunting task.
DIGITAL TWINS: THE FUTURE OF VIRTUAL REPLICAS AND REAL-WORLD SOLUTIONS
Imagine a world where you can create a virtual doppelganger—not for yourself, but for your car, your home, or even your city.
Kawasaki W175 Review: A True Retro for Those Who Understand Motorcycles!
If, like me, you also grew up riding motorcycles in the late '80s and early '90s, and are still riding, chances are that you are in better shape than most half your age.
