The United States Securities and Exchange Commission (SEC) has informed a federal court in New York that its efforts to serve legal complaints on billionaire industralists Gautam Adani and his nephew Sagar Adani in connection with an alleged bribery scheme are "ongoing," including a formal request for assistance from Indian authorities.
The SEC submitted a status update on Tuesday to Judge Nicholas Garaufis at the United States District Court, Eastern District of New York, outlining its attempts to serve the complaint under the Hague Service Convention for Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters.
"Both Gautam Adani and Sagar Adani are located in India, and the SEC's efforts to serve them there are ongoing, including through a request for assistance to the Indian authorities," the SEC said in the filing.
The complaint, filed on 20 November last year, alleges that the Adanis violated antifraud provisions of federal securities laws by "knowingly or recklessly making false and misleading representations concerning Adani Green Energy Ltd in connection with a September 2021 debt offering by Adani Green."
Christopher Colorado, counsel for the SEC, stated that because the "defendants are located in a foreign country, Rule 4(f) of the Federal Rules of Civil Procedure (FRCP) governs service of the Summons and Complaint."
Under this rule, there is no fixed time limit for serving defendants, and the SEC may deliver the summons through "any internationally agreed means of service that is reasonably calculated to give notice," including the Hague Service Convention.
The SEC noted that it has contacted the defendants and their legal representatives where known, and has sent Notices of Lawsuit and Requests for Waiver of Service of Summons, accompanied by copies of the complaint.
"Additionally, under Article 5(a) of the Hague Service Convention, the SEC has requested assistance from India's Ministry of Law and Justice, the Central Authority for India under the Hague Service Convention," the SEC stated, adding that the process remains "ongoing."
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The agency said it would continue its efforts to serve the defendants in India under the prescribed legal methods and keep the court updated on its progress.
In November 2023, the SEC charged Gautam Adani, Sagar Adani, and Cyril Cabanes, an executive at Azure Power Global Ltd., in connection with what it described as a large-scale bribery scheme.
In a parallel action, the US Attorney's Office for the Eastern District of New York unsealed criminal charges against the Adanis and Cabanes, alongside other individuals linked to Adani Green and Azure Power.
The US Department of Justice (DOJ) has accused Gautam Adani of participating in a years-long scheme to pay USD 250 million in bribes to Indian officials to secure favourable solar power contracts.
In response, the Adani Group has rejected the allegations as "baseless" and vowed to pursue "all possible legal recourse."
"The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied," a spokesperson for the Adani Group said in a statement.
The spokesperson also cited the US Department of Justice's assertion that "The charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty."
The Adani Group reiterated its commitment to regulatory compliance and transparency.
"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," the spokesperson added.
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