US capital mkt regulator has no jurisdiction to summon foreign national
The Morning Standard|November 25, 2024
US SEC will have to serve the summons on Adani Group Founder and Chairman Gautam Adani and his nephew Sagar in the alleged $265 million (₹2,200 crore) payoffs through proper diplomatic channels as it has no jurisdiction to summon a foreign national directly, according to sources.

US Securities and Exchange Commission (SEC) wants Adanis to explain their stand on allegations of paying bribes to secure lucrative solar power contracts but that request will have to follow the established protocol of routing it through the Indian Embassy in the US and following other diplomatic formalities, two sources aware of the matter said.

This story is from the November 25, 2024 edition of The Morning Standard.

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This story is from the November 25, 2024 edition of The Morning Standard.

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