Adani US indictment: ‘US regulator SEC has no jurisdiction to summon a foreign national’

NEW YORK: The US SEC will have to serve the summons on the Adani group founder and chairman Gautam Adani and his nephew Sagar in the alleged $265 million (Rs 2,200 crore) payoffs through proper diplomatic channels as it has no jurisdiction to summon a foreign national directly, according to sources.
The US Securities and Exchange Commission wants the Adanis to explain their stand on allegations of paying bribes to secure lucrative solar power contracts but that request will have to follow the established protocol of routing it through the Indian Embassy in the US and following other diplomatic formalities, two sources aware of the matter said.The US SEC has no jurisdiction over foreign nationals and cannot send anything by post to them.