Modi-Xi 'no baggage' talks hailed by Chinese media
Wuhan (China), April 28: The "heart-to-heart" communication between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping during their two-day informal summit here reflected their deepened mutual history and charted the course of long-term bilateral development, according to a leading Chinese newspaper.
The China Daily in an opinion piece said: "The beauty of the informal summit between Xi and Modi is that it comes with no baggage, only expectations. It is free of the usual diplomatic frills, somewhat beyond the global media limelight.
"As expected, the 'heart-to-heart' communication between the two leaders reflected their deepened mutual chemistry. Which, in turn, will be conducive to improving mutual trust between the neighbours and charting the course of long-term bilateral development."
India and China share a tense relationship owing to their 1962 war. Their ties touched a new low last year when their militaries were locked in a face-off near their disputed boundary. The crisis was resolved in August.
The daily said that "mutual suspicion was keeping the two countries from deepening cooperation and working together on regional and international issues".
"The border incident last summer was just one example of what mutual suspicion could lead to, reminding both sides of the disruptive potential of distrust. Yet neither Beijing nor New Delhi calls the other an enemy, which means both expect bilateral ties to improve," it said.
The daily called China and India "natural partners" and said that "both realize they carry the hopes of the other developing countries to improve international relations, in order to make the world order more equitable".
"The Xi-Modi meetings reflect the two neighbours' common aspiration to not only stabilize their troubled relationship but also caution disruptive powers it is difficult to drive a wedge between them," it said.
The Global Times said that the informal summit ushered in a new chapter in the Sino-Indian relations. "Conflicts between China and India have kept accumulating, which exposed the fragility of Sino-Indian relations and prompted both sides to recognize that confrontation between China and India does not fit their interests. Disputes must be controlled".
China's People's Daily quoted Xi as saying that "the consensus reached by the two sides provided positive signals of China-India friendship and reflected the strong will of two big emerging economies to enhance mutually beneficial cooperation".
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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."
