By Admin 
Gautam adani: The US Securities and Exchange Commission (SEC) has informed a New York court to keep in touch with the Law Ministry of India. With his help, preparations are being made to send notice to billionaire businessman Gautam Adani and his nephew Sagar Adani. The case was registered last year, in which the US SEC has accused them of violating the rules related to the stock market.
What was the matter?
SEC told US District Court Magistrate Judge James Cho in New York on 11 August that Indian officials have not sent summons to Adani till now. Let us know that SEC had filed a case against both of them, in which it was claimed that they had given a bribe of $ 25 million to get a renewable energy contract to one of their company in the US. However, Adani denied these allegations and described them as baseless.
Adani was accused that he and other senior officials of his company had bribed the Indian officials to give this contract to his company. This contract matters because the company expected the company to make more than two billion dollars in the next 20 years. The information given in the court on August 11 is the same as the information given during the hearing on June 27.
Work under the rules of Hague Service Convention
In this new update submitted to Magistrate Judge James R Cho, SEC said that he is in the process of issuing notice to Gautam Adani and his nephew, following the rules of Hague Service Convention. Please tell that this is an international agreement. Through this, the exchange of judicial and non-judicial documents between various countries is made easier to ensure that the defendants get notices in the cases going on abroad and they are joining the legal proceedings.
In this case, no notice has been sent to Gautam Adani and Sagar Adani so far because they have no right to send summons directly to a foreign national, so now help is being sought from Indian officials. However, Indian officials have not taken any action so far on their request to send summons.
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