Archive · 31 Jan 2026
SEC Fraud Case Against Adani Moves Forward
The U.S. Securities and Exchange Commission (SEC) has been trying to sue Gautam Adani and his nephew Sagar Adani for over a year.
The SEC says they paid bribes to Indian officials to get special contracts for their solar energy company.
The Adani family says these charges are not true.
The case was stuck because of legal arguments, but now the Adanis have agreed to let their U.S. lawyers accept the legal papers, so the case can move forward.
The SEC says the Adanis raised money from American investors by lying, which is against the law.
The Adani Group says the charges are baseless and that their company is not involved in the case.
The news about the case made the stock market nervous, and the value of Adani's companies dropped by a lot.
The SEC's civil fraud lawsuit against Gautam Adani and Sagar Adani has moved forward after 14 months of delays.
The Adanis agreed to have their U.S.-based counsel accept the summons, allowing the case to proceed in a Brooklyn federal court.
The SEC alleges that the Adanis paid or promised to pay $265 million in bribes to Indian government officials to secure solar power contracts.
The Adani Group has labeled the charges 'baseless' and stated that no charges have been brought against Adani Green Energy.
The news of the SEC's latest procedural push wiped out almost $13 billion in combined market value on January 23, 2026.
- Who
- Gautam Adani and Sagar Adani
- What
- SEC civil fraud lawsuit alleging bribery and securities fraud
- When
- Case moved forward after 14 months of delays, with a recent agreement on January 23, 2026
- Where
- Brooklyn, New York federal court
- Why
- Alleged bribery of Indian government officials to secure solar power contracts and raising money from U.S. investors under false pretenses
SEC and U.S. Regulators
Adani Group
Nature of the Charges
SEC and U.S. Regulators
The SEC alleges that the Adanis orchestrated a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to secure lucrative solar power contracts for Adani Green Energy.
Adani Group
The Adani Group has consistently labeled the charges 'baseless' and stated that no charges have been brought against Adani Green Energy, and the defendants have not been charged with violation of the U.S. Foreign Corrupt Practices Act.
Jurisdiction and Legal Proceedings
SEC and U.S. Regulators
The SEC claims jurisdiction based on a September 2021 bond offering, alleging that the Adanis raised $175 million from American investors under false pretenses, triggering U.S. securities fraud charges.
Adani Group
The Adani Group argues that the SEC proceedings are civil in nature and that the company is not a party to these proceedings.
- Company
- Adani Group
- Founder
- Gautam Adani
- Nephew
- Sagar Adani
- Alleged Bribery Amount
- $265 million
- SEC Charges
- Violation of U.S. securities law and alleged bribery of Indian government officials
- Market Impact
- Almost $13 billion in combined market value wiped out on Jan 23
- Legal Counsel
- Robert Giuffra Jr.
- Case Status
- Civil lawsuit to proceed in Brooklyn federal court
Sources
Adani looks to home to raise 1,000 crore over next 3 years
US SEC advances civil fraud case against Gautam and Sagar Adani over alleged bribery scheme
SEC Fraud case against Gautam and Sagar Adani moves forward after wall street lawyer accepts summons on their behalf
Adani agrees to receive legal notice in US SEC civil fraud case, to respond in 90 days
