Adani US SEC Case: A new twist has come in the ongoing case between the US Securities and Exchange Commission and Adani.
The US SEC had applied to bypass the Indian government and send a direct summons to Gautam Adani. Before hearing this application, the court had asked both the parties to talk and give their decision. Now the news is that Adani has agreed to take legal notice from the US Securities and Exchange Commission.
According to a court filing, billionaire Gautam Adani and his nephew, Sagar Adani, have agreed to take legal notice from the US Securities and Exchange Commission in a civil fraud lawsuit alleging that they misled investors about the bribery scheme.
If the judges approve this motion, Adani will have 90 days to respond to the SEC's complaint, which could include a request to dismiss the case. Both the accused are in India, and the SEC had said that they would have difficulty in providing legal papers. Gautam Adani's lawyer Robert Giuffre declined to comment. Sagar Adani's lawyer Sean Hecker also declined to comment.
