Mohammad Mansoor honoured with Hind Ratan Award
NRI Businessman honoured with the highest annual award by NRI Welfare Society of India
New Delhi : Mohammad Mansoor, founder of Exelon and Saara Group, was honoured Hind Ratan Award by the NRI Welfare Society of India at the 38th International Congress of NRIs on the eve of the 70th Republic Day in New Delhi. The congress is held annually in association with the Pravasi Bharatiya Divas celebrations.
Mansoor is among the pioneers who supported the sports and media initiatives in the Kingdom of Bahrain. He also introduced the first franchise based T20 Premier Cricket League, following the format of Indian Premier League, in the Kingdom of Bahrain under the patronage of Sheikh Khalid bin Hamad Al Khalifa in 2018. The initiative was critically supported by the legends of the sport and Bollywood celebrities.
The initiatives by Mohammad Mansoor brought together leading investors, celebrities, members of the film fraternity and sports from India to support the initiatives by the Royal Family of Bahrain towards the growth of sports and media industry in the region. His presence and support towards Brave Combat Federation which is the fastest growing Mixed Martial Arts organisation in the world found by Sheikh Khalid bin Hamad Al Khalifa and operated by Mohammed Shahid are also recognised among the global sports community.
One of the leading businessmen in Bahrain, Mansoor is the Chairman & CEO of SAARA Group, who heads a series of ventures and organisations spread across the domains of Information Technology, Energy, Media, Oil & Gas, Sports Initiatives, Seed Capital Investments, and Social Initiatives. Exelon is among his most ambitious initiatives which are spread across the Kingdom of Bahrain, Kingdom of Saudi Arabia and India. Exelon serves SABIC & ARAMCO apart from bringing multiple investment initiatives to the Kingdom of Bahrain. This includes SMEXINDO and facilitating the development of projects leading to Garuda City from Indonesia and global initiatives. Mansoor is also a member of Bahrain India Society, patron of Bahrain Kannada Sangha and the patron of Indian Club, Bahrain.
“I am humbled by the love and recognition which is a pillar of strength to each of my initiatives. I firmly believe that it is the duty of expatriates as global citizens to support progressive initiatives in the region where they operate. This will have a significant impact on the way the world perceives India and Indians. I am honoured by the Hind Ratan Award from the NRI Welfare Society of India, and this motivates me to strengthen my initiatives in the region and towards multiple projects which will add value towards the NRI community in the region by being a part of multiple progressive initiatives by the Kingdom of Bahrain”, said Mohammad Mansoor.
Mohammad Mansoor represented the Indian business community in Bahrain by being one among the entourage of King Hamad bin Isa Al Khalifa during his official visit to India.
(With His Majesty KING HAMAD BIN ISA AL KHALIFA, King of Kingdom of Bahrain)
(Presenting the cricket bat to H.H. Shaikh Khalid Bin Hamad Al Khalifa on Bahrain’s 1st Cricket Premier league)
(With Prince Khalifa bin Salman Al Khalifa, Prime Minister of Bahrain)
(With Crown Prince H.H. Shaikh Salman Bin Hamad Al Khalifa)
(With Mohammad Shahid , CEO of Brave Combat Federation , and Mohammad Arayyed)
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US SEC summons Gautam Adani, nephew Sagar in bribery case
New York (PTI): Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying USD 265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts.
Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
"Within 21 days after service of this summons on you (not counting the day you received it)...you must serve on the plaintiff (SEC) an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure," said a November 21 notice sent through the New York Eastern District Court.
"If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court," it added.
Gautam Adani, 62, and seven other defendants, including his nephew Sagar, who is a director at the group's renewable energy unit Adani Green Energy Ltd, allegedly agreed to pay about USD 265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that expected to yield USD 2 billion of profit over 20 years, according to an indictment unsealed in a New York court on Wednesday.
Separate from the indictment brought by the US Department of Justice, the US SEC has also charged the two and Cyril Cabanes, an executive of Azure Power Global, for "conduct arising out of a massive bribery scheme".
The ports-to-energy conglomerate has denied the allegations and said it will seek all possible legal resources.
"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."
An indictment in the US is basically a formal written allegation originating with a prosecutor and issued by a grand jury against a party charged with a crime. A person indicted is given formal notice to reply.
That person or persons can then hire a defence lawyer to defend.
Prosecutors said the investigation started in 2022 and found the inquiry obstructed.
They also allege that the Adani Group raised USD 2 billion in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm's anti-bribery practices and policies, as well as reports of the bribery probe.
"As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and... lied about the bribery scheme as they sought to raise capital from U.S. and international investors," US Attorney Breon Peace said in a statement announcing the charges on Wednesday.
"My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets."
