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The SEC has also requested assistance from the ministry of law in India under the Hague Service Convention.
“The process is ongoing, and the SEC will continue its efforts to serve defendants,” the SEC stated in its document, Reuters reported.
In November 2024, the US SEC had summoned Adani group founder and chairman Gautam Adani and his nephew Sagar, within 21 days, to explain their stand on the alleged $265 million (₹2,200 crore) bribes to secure lucrative solar power contracts.
On failure or response, the judgment by default would be entered against them for relief demanded in the complaint, stated the notice served to the duo, sent via the New York Eastern District Court.
The SEC on Tuesday it had filed its complaint on November 20, 2024 alleging that the defendants violated the antifraud provisions of the 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 the latter. “In a related criminal case arising from many of the same alleged facts, the United States Attorney for the Eastern District of New York charged defendants with among other things, conspiracy and securities fraud,” it added.
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