Meanwhile, Alay Razvi, managing partner, Accord Juris, said the Supreme Court of India had directed Sebi to submit a report on the Adani investigation within a specified timeframe, and their failure to do so could amount to contempt of court.“It reflects poorly on the regulator's efficiency.
Given the severity of the charges and extraterritorial jurisdiction, US authorities may initiate extradition procedures to bring the defendants within US jurisdiction, said Kunal Sharma, partner, Singhania & Co.“Upon arrest, the defendants would be required to make an initial appearance before a magistrate judge.
Regarding Mr Adani’s freedom of movement, Kumar noted that there appears to be no immediate legal impediment preventing him from travelling internationally unless an Interpol Red Notice or similar international warrant is issued at the behest of US prosecutors.“Such measures would necessitate cooperation from the host jurisdiction and could restrict his movement to countries that are parties to extradition treaties with the United States.
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