Adanis agree to accept SEC's legal notice in US lawsuit
31 Jan 2026

Billionaire Gautam Adani and his nephew Sagar have agreed to accept a legal notice from the US Securities and Exchange Commission (SEC).

The notice pertains to a civil fraud lawsuit accusing them of misleading investors about a bribery scheme.

The agreement was filed in the federal court of Brooklyn, New York, by both parties' lawyers.

Joint application pending approval from the concerned court
Legal proceedings

The joint application, which is a procedural move in US legal proceedings, is pending approval from the concerned court.

If approved, it will allow the SEC case to move forward while giving the Adanis 90 days to file their motion to dismiss or defense.

The SEC can then file its opposition within another 60 days and defendants can reply within 45 days.

SEC lawsuit against Adani Group
Allegations

The SEC filed a lawsuit in November 2024, alleging that the Adanis violated US securities laws by making false and misleading representations related to Adani Green Energy Ltd (AGEL).

Along with this civil complaint, federal prosecutors in Brooklyn have also charged the Adanis and others for allegedly being part of a $265 million bribery scheme in India to secure solar power contracts.

Adani Group denied all allegations
Denial

The Adani Group has denied all allegations against it and the founder family.

Both lawsuits have been stalled for over a year as Gautam and Sagar remained in India and couldn't be served the notices.

Last week, the SEC sought a US judge's permission to serve them through alternative means such as email and other US law firms representing the Adanis.

AGEL confirmed defendants agreed to accept the notice
Confirmation

AGEL, the renewable energy arm of Adani's ports-to-cement conglomerate, confirmed that the defendants have agreed to accept the notice.

It said this is a procedural step and they would seek dismissal of the SEC's complaint or file responsive pleadings.

The company also clarified that neither Gautam nor Sagar have been charged with violations of the United States Foreign Corrupt Practices Act.