“That process is ongoing, and the SEC will continue its efforts to serve Defendants in India by the methods prescribed by FRCP 4(f)including under the Hague Service Conventionand will keep the Court apprised of its progress,” the SEC said.In November last year, the Securities and Exchange Commission had charged Gautam Adani, Sagar Adani and Cyril Cabanes, an executive of Azure Power Global Ltd., for conduct arising out of a massive bribery scheme.In a parallel action, the US Attorney’s Office for the Eastern District of New York unsealed criminal charges against Gautam and Sagar Adani and Cabanes, among other individuals connected to Adani Green and Azure Power.Adani is being indicted by the US Department of Justice for his role in an alleged years-long scheme to pay USD 250 million bribes to Indian officials in exchange for favourable solar power contracts.The Adani group has said that the allegations by the Department of Justice and the SEC are baseless and has denied them.”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 had said in a statement.The spokesperson pointed to a US Department of Justice statement that said, “The charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.”The group has said that “all possible legal recourse will be sought.””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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