Billionaire Gautam Adani and his nephew, Sagar Adani, have agreed to obtain a authorized discover from the U.S. Securities and Alternate Fee (SEC) in a civil fraud lawsuit alleging they misled traders a couple of bribery scheme, based on a court docket submitting.
The stipulation is topic to court docket approval.
In a submitting in a federal court docket in Brooklyn, New York, seen by PTI, the SEC and U.S.-based legal professionals for Mr. Gautam and Mr. Sagar Adani stated the legal professionals had agreed to just accept service of the regulator’s authorized papers, eradicating the necessity for a Decide to rule on how the defendants ought to be served.
The joint utility (or stipulation) has been submitted for approval from the involved Courtroom. It is a normal procedural step in U.S. authorized proceedings that enables for the orderly decision of circumstances.
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If agreed by the Decide, the joint utility will enable the SEC matter to progress whereas giving time to the Adanis to both file their movement to dismiss or their defence inside 90 days. The SEC thereafter can file their opposition inside an additional interval of 60 days. The Defendants can file their replies to such opposition inside 45 days.
The SEC had filed a lawsuit in November 2024 alleging that the 2 violated U.S. securities legal guidelines by making false and deceptive representations about Adani Inexperienced Power Restricted (AGEL).
Along with the SEC’s civil criticism, federal prosecutors in Brooklyn, New York, have charged the Adanis and others with allegedly serving to to drive a $265 million bribery scheme in India to safe solar energy contracts.
The Adani Group has repeatedly denied all accusations made in opposition to it or the founder household.
Additionally learn: U.S. regulator seeks to bypass Indian authorities to serve Adani summons
Each lawsuits have been stalled for greater than a yr as each Adanis stay in India and couldn’t be served the notices. Final week, the SEC requested a U.S. Decide to permit different strategies to inform them of the go well with, together with service by e mail and thru different U.S. legislation corporations representing the Adanis.
AGEL, the renewable vitality arm of the ports-to-cement conglomerate Gautam Adani leads, in a inventory trade submitting, stated the defendants — Gautam and Sagar Adani — agreeing to just accept the discover is a procedural step and they might search dismissal of the SEC’s criticism or file responsive pleadings.
“We perceive that on January 30, 2026, Counsel for Defendants filed an utility agreeing to just accept service on behalf of the Defendants with out accepting the jurisdiction of the Japanese District of New York (EDNY) and reserving all defences the Defendants could increase, together with as to jurisdiction,” it stated.
“We additional perceive that the Defendants have taken procedural steps and intend to maneuver to dismiss the SEC’s criticism or file responsive pleadings.”
AGEL went on to quote its earlier assertion that the Gautam Adani and Sagar Adani who’re administrators on its board, haven’t been “charged with violation/(s) of the USA Overseas Corrupt Practices Act i.e. there aren’t any prices of bribery or corruption in opposition to the Defendants.” Additionally, the “firm shouldn’t be a celebration to those proceedings, and no prices have been introduced in opposition to it,” the submitting stated.
Mr. Adani has employed a distinguished Wall Road lawyer, Robert Giuffra Jr, who additionally counts U.S. President Donald Trump amongst his purchasers, to defend him within the case.
Robert Giuffra Jr, co-chair of white-shoe legislation agency Sullivan and Cromwell, advised a Federal Decide that he reached an settlement to just accept the lawsuit on behalf of Gautam and Sagar Adani.
The a joint submitting made by the Defendants and SEC within the Japanese District Courtroom of New York, stated the SEC on February 17, 2025, “submitted a proper request to India’s Ministry of Regulation and Justice, Division of Authorized Affairs for help below the Hague Conference on the Service Overseas of Judicial and Extrajudicial Paperwork in Civil or Industrial Issues however service on the Defendants has not but been effected.”
On January 21, 2026, the SEC filed a movement and proposed order looking for permission to impact different service by Defendants’ US counsel and Defendants’ enterprise emails. “On January 23, 2026, US counsel for Defendants agreed to service of course of, thereby obviating the necessity for the Courtroom to rule on the Movement,” the court docket submitting stated.
“Besides with respect to service, Defendants expressly protect all defenses on this litigation, together with however not restricted to defences relating to non-public jurisdiction.” AGEL shouldn’t be a celebration to those proceedings. No prices have been introduced in opposition to the corporate, whether or not in relation to bribery, corruption or in any other case. The one events to the continuing are two administrators of the corporate. Nonetheless, no legal prices have been introduced in opposition to administrators. The proceedings are fully civil in nature.
Officers stated AGEL enterprise operations proceed usually throughout all jurisdictions and the agency remained centered on delivering worth to its stakeholders. Its tasks and commitments are continuing as deliberate and the monetary place stays robust, they stated.
The Adani Group, they stated, maintains the very best requirements of governance, transparency and regulatory compliance. It operates as a law-abiding organisation throughout all jurisdictions.
The SEC matter will proceed by the suitable authorized channels, they added.
Printed – January 31, 2026 10:14 am IST
