The US Securities and Exchange Commission and Indian businessmen Gautam Adani and Sagar Adani have jointly requested a US court for more time to file key submissions in a civil securities case.
Gautam Adani and Sagar Adani are seeking the dismissal of a US Securities and Exchange Commission (SEC) securities fraud lawsuit, arguing that the case represents an impermissible extraterritorial application of US law and fails for lack of personal jurisdiction.
A US judge has granted Gautam Adani's request for a hearing to dismiss a US Securities and Exchange Commission (SEC) fraud case, with Adani's legal team arguing the case lacks jurisdiction and credible evidence.
According to the Justice Department, Tellis, 64, the Tata Chair for Strategic Affairs and a senior fellow at the Carnegie Endowment think-tank, served as an unpaid senior adviser to the State Department and was also a contractor with the Office of Net Assessment at the Department of Defense.
The CBI successfully managed to get Monika Kapoor extradited from the United States, ending her 25-year flight from justice. She is accused of economic offenses including forgery and fraud.
Trump thanked the Government of Pakistan for "helping arrest this monster".
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a Rs 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over Rs 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US authorities in a court in a bribery case, the Adani Group said on Wednesday.
'If the criminal or civil charges are deemed unworthy or defective, Trump's new justice department and SEC can withdraw the criminal and civil cases.'
Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya's airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said "there are no allegations made against the company". On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses.
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
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 $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.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
US prosecutors' case against Gautam Adani and others may stumble on the extraterritorial application of American law.
With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.
A United States court has sentenced an Indian-American couple to prison for coercing their relative to work at their gas station and convenience store for over three years by bringing him to the United States on the pretext of helping enrol him in a school.
At least 24 people were arrested by the security forces for defying the ban on celebrations, officials said.
If Tamil Nadu voters preferred the DMK combine, it owed to the Modi-Annamalai combo's ideological battle which often crossed the line of political decency and also challenged 'Tamil pride', argues N Sathiya Moorthy.
The opposition Congress has decided to support the bandh in protest against the ruling Bharatiya Janata Party's 'failure' to control the situation in the north-eastern state, a party spokesperson said on Saturday.
'The water crisis is so obvious that people see no point begging for it from politicians.'
Since 1993, when the BJP came to power after a stint of President's rule, the state has alternated between the Congress and the BJP.
Devas Multimedia has seized $87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a $1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday. Devas Multimedia America Inc had sought seizure of $145,000 but the actual recovery was $87,457.47 (a little less than Rs 70 lakh). This came after it secured a favourable order from the Eastern District Court of Virginia, Matthew D McGrill said.
India thrashed New Zealand by eight wickets and 90 runs in the first two ODIs to take a 2-0 lead in the five-match series.
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
A powerful 5.9-magnitude earthquake jolted a mountainous part of Pakistan's Balochistan province early on Thursday, resulting in collapse of several houses that left at least 22 people dead and over 300 others injured, officials said.
Infosys on Friday said a class action lawsuit filed against the company and some of its employees in the US district court has been dismissed. The move comes after whistleblower complaints alleging certain unethical practices by the top management emerged in October last year.
Prime Minister Narendra Modi took stock of the damage caused by the earthquake in eastern India and has spoken to the chief ministers of Bihar, Assam and Sikkim, government sources said.
The Panama registered tanker New Diamond was carrying 270,000 metric tonnes of crude oil from Kuwait to India when its engine room caught fire off the coast of Sangamankanda in the eastern district of Ampara, Sri Lankan Navy spokesman Capt Indika Silva said.
The navy said that so far the 270,000 metric tonnes of crude oil it was carrying had not been affected by the fire.
AFSPA can be safely lifted from almost 90 per cent of Nagaland, argues Shekhar Gupta.
Apple promised to appeal.
Thapar currently holds the position of US District Court Judge for the Eastern District of Kentucky.
Police officer Harminder Phagura is busted for aiding a 'friend' in carrying out cocaine deals.
The summons was issued by the US Eastern District Court of New York after a rights group -- Sikhs For Justice (SFJ) -- and two victims of the riots filed a complaint before it.
Shashank Rai, 30, allegedly sought millions of dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act from two different banks by claiming to have 250 employees earning wages when, in fact, no employee worked for his alleged business.
Mahindra & Mahindra on Friday said a judge of the US International Trade Commission has found that its off-road vehicle Roxor violated Fiat Chrysler Automobile's (FCA) Jeep 'trade dress' and recommended an exclusion order prohibiting import and sale of any already imported parts of the vehicle.
Trump nominated Thapar for the 6th US Circuit Court of Appeals.
A 21-year old Bangladeshi man, who came to the United States aiming to 'destroy America', has pleaded guilty to attempting to carry out a terrorist attack for the Al Qaeda at the Federal Reserve Bank here using a 1,000-pound bomb.
Ankit Patel, 28, of Detroit pleaded guilty to one count of conspiracy to commit healthcare fraud before US District Judge Gerald Rosen of the Eastern District of Michigan.
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