In a federal securities law violation case, the US Securities and Exchange Commission (SEC) has notified the Eastern District Court of New York that industrialist Gautam Adani has not yet received a legal summons from Indian authorities.
The report claims that as early as February of this year, the SEC asked the Indian central government for help in serving summonses on Gautam Adani and his nephew Sagar Adani. The summons was still not delivered almost four months later. Gautam Adani lives in Ahmedabad, Gujarat, and the District and Sessions Court there received the SEC's summons in March from India's Ministry of Law and Justice. But according to the SEC, neither the court nor Indian authorities have confirmed whether the summons was sent out or delivered.
The case concerns claims that Sagar Adani and Gautam Adani made false and deceptive statements about Adani Green Energy Limited in violation of federal securities laws. In order to look into and address the alleged violations, the SEC has started legal action in the US. The SEC had invoked provisions under the Hague Service Convention, an international agreement that promotes international collaboration in legal matters, to allow the cross-border service of judicial documents. The Adanis have not yet received the summons, even though India is a signatory to the Convention.
The SEC has noted that the case's advancement in the US court is being impeded by the summons's delayed service. Even when formal treaties are in place to expedite the process, the Commission's filing emphasises the procedural and bureaucratic difficulties associated with carrying out international legal cooperation.
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