U.S. SEC says India yet to serve summons to Adani executives in bribery indictment

The U.S. Securities and Exchange Commission (SEC) said Indian authorities person not yet acted connected its requests to service summons and complaints to Adani Group executives implicit alleged securities fraud and a $265 cardinal bribery scheme, a tribunal filing showed connected Friday.

The lawsuit is 1 of the astir high-profile attempts by a U.S. regulator to unafraid cross-border practice from Indian authorities successful a substance involving 1 of that country’s largest conglomerates.

The SEC told a New York territory tribunal that it has been successful repeated interaction with India’s instrumentality ministry successful efforts to service ineligible documents to Adani Group laminitis Gautam Adani and his nephew Sagar Adani

Its astir caller connection with the ministry was connected September 14, but nary confirmation of transportation has been received.

“The SEC volition proceed communicating with the India Ministry of Law and Justice and pursuing work of the defendants via the Hague Service Convention,” the filing said.

Neither Adani Group enforcement is successful U.S. custody, and some are presently successful India. Last year, U.S. prosecutors successful Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to person them to bargain energy produced by Adani Green Energy, a portion of the Adani Group.

The SEC ailment alleged that the executives past misled U.S. investors by providing reassuring accusation astir the company’s anti-graft practices.

Adani Group and India’s Ministry of Law and Justice did not instantly respond to Reuters requests for comment.

In the past, the Adani Group has called the allegations “baseless” and said it would prosecute “all imaginable ineligible recourse.”

In January, Adani Green Energy said it had appointed autarkic instrumentality firms to reappraisal the U.S. charges.