Adani agrees to accept SEC notices, prepares for U.S. court battle

In the civil fraud case filed by the U.S. Securities and Exchange Commission (SEC) , Gautam Adani and his nephew Sagar Adani have agreed to accept legal notices . According to documents filed in the Brooklyn Federal Court , lawyers representing the Adani group agreed to accept notices sent by the SEC, removing the need for the judge to issue special orders on service of notices . The court has given the Adanis 90 days to respond to the notices or move to dismiss the case , after which the SEC will have 60 days to present its arguments.

The dispute began in November 2024 . The SEC alleged that Adani misled investors regarding a scheme to pay roughly $265 million in bribes to Indian government officials to secure solar energy contracts for Adani Green Energy Limited. By concealing these payments while raising funds from the U.S., Adani allegedly violated American securities laws, prompting the SEC to file a civil suit in the Brooklyn court.

The case had stalled for nearly a year due to issues with the “service of notices” . Since Gautam and Sagar Adani are in India, the SEC sought the assistance of Indian authorities under the Hague Convention, which governs international delivery of legal documents. The process was slow, prompting the SEC to request permission from the court to serve notices via email or through their U.S. lawyers . The deadlock ended when Adani’s lawyers voluntarily agreed to accept the notices .

While accepting the notices, the Adanis argued they do not fall under the court’s personal jurisdiction. In other words, accepting the notices does not automatically bind them to every ruling of the U.S. court. They plan to challenge whether the court is competent to hear the case and have engaged prominent lawyer Robert Giuffra Jr. , who has previously represented U.S. President Donald Trump .

Under court rules, the Adanis now have 90 days to prepare a defense or move to dismiss the case . If they file for dismissal, the SEC has 60 days to respond, after which the Adanis can file a final reply within 45 days. The entire process could take six to seven months , making an immediate verdict unlikely .

Adani Green Energy Limited clarified that there are no charges against the company itself . The case pertains only to two individual directors and is a civil matter, not a criminal bribery accusation. The company reassured investors that its finances are strong and projects are proceeding normally.

The SEC case has significantly impacted the Adani Group’s market value . News on January 23, 2026 , triggered sharp losses: the group’s market capitalization fell by ₹1.4 lakh crore in a single day. On January 23, almost all Adani stocks fell between 3% and 14% , with Adani Green Energy dropping 14% to ₹772, Adani Energy Solutions 12% to ₹814, Adani Enterprises 11% to ₹1,862, Adani Power 9% to ₹128, Adani Ports 7.5% to ₹1,307, and Ambuja Cements 6% to ₹518.

From January 27 onwards, the market showed signs of recovery. The rebound was aided by the Adani Group’s clarification that there are no allegations against the company and that this is solely a civil case. Acceptance of the notices by the lawyers also reduced uncertainty, and on January 27, Adani Green shares recovered by over 6%. Even minor developments in the case continue to affect Adani Group stocks, and future movements will depend heavily on court rulings and responses following the 90-day deadline.