US regulator seeks India’s help in serving complaint to Gautam Adani
New Delhi: The United States Securities and Exchange Commission (SEC) has sought assistance from the Indian government to serve a complaint to Adani Group Chairman Gautam Adani and his nephew Sagar Adani in an alleged $265 million bribery and fraud case, Reuters reported on Wednesday.
The SEC informed a district court in New York that it was attempting to serve the complaint and had requested help from India’s law ministry.
In November, the United States Attorney’s Office for the Eastern District of New York indicted Gautam Adani in connection with the case. The US Department of Justice accused executives of the conglomerate of bribing Indian officials for solar energy contracts and misrepresenting anti-bribery practices to US investors. It alleged that details of the bribes were concealed to secure financing.
The Adani Group has denied the allegations and announced plans for legal action. In December, Gautam Adani blamed the media for what he called "incorrect and reckless reporting" on the issue.
While the indictment document outlines conspiracy to obstruct justice and violations of the Foreign Corrupt Practices Act (FCPA), Adani and his executives were not formally charged under these counts. However, it names Gautam Adani, Sagar Adani, and Cyril Cabanes of Azure Power Global in connection with the alleged bribery scheme.
On November 27, the Adani Group clarified in a stock exchange filing that Gautam Adani and Sagar Adani had been charged with securities fraud, not bribery. The charges led to a significant decline in the group’s market value, with shares losing $54 billion at the time.
On November 29, the Union government stated that it considered the matter a legal issue involving private companies, individuals, and the US Justice Department.
Meanwhile, on February 10, US President Donald Trump signed an executive order pausing prosecutions of Americans accused of bribing foreign officials for business deals. The order temporarily halts enforcement of the FCPA and directs US Attorney General Pam Bondi to review the law’s enforcement guidelines.
The move is seen as a potential relief for the Adani Group, as it could delay or weaken ongoing investigations against its executives.
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MYAS launches quiz on national flag, 25 top-scorers to get trip to Siachen with Mandaviya
New Delhi, Aug 7 (PTI): The Ministry of Youth Affairs and Sports (MYAS) has launched an online quiz on the national flag and 25 top-scoring participants in the age bracket of 21 to 29 will get an opportunity to visit Siachen with Sports Minister Mansukh Mandaviya.
The quiz, according to the ministry, will "foster patriotism and enhance awareness about the Indian National Flag."
"This online quiz, hosted on the MYBharat portal (mybharat.gov.in), invites all citizen to participate and test their knowledge about the Tricolour," the ministry stated.
It will consist of multiple-choice questions and all contestants will be awarded an e-certificate.
"As a grand incentive, 25 top-scoring participants will be selected for a remarkable opportunity to visit Siachen in the company of the Union Minister for Youth Affairs and Sports, Dr. Mansukh Mandaviya," the ministry said.
"The selection of winners for the Siachen visit will be limited to youth between the ages of 21 and 29. The final selection of the 25 winners will be conducted through a computer-based lottery system from the pool of top scorers," it added.
