Adani Group Distances Itself From US SEC Summons Against Gautam Adani, Sagar Adani - Key Details

Adani Group entity Adani Enterprises on Saturday January 24, 2026, clarified that it is not party to any legal proceedings mentioned in recently published media reports, responding to queries by National Stock Exchange, and Bombay Stock Exchange.

In an exchange filing dated January 24, the Gautam Adani led group said, "There are no allegations made against the Company in, and the Company is not party to, these proceedings."

This clarification is linked to claims made in a news article, which stipulated that the US Securities and Exchange Commission (SEC) was seeking measures to serve legal summons directly to Gautam and Sagar Adani.

Further, the company requested the exchanges to take the submission on record, emphasising that the reported developments do not have any bearing on its operations or disclosure obligations under applicable regulations.

"The content of the Press Report does not trigger any disclosure requirements under Regulation 30 read with Schedule III of SEBI Listing Regulations. We request you to please take this on record," as per an Adani Enterprises exchange filing.

Meanwhile, the mining to green energy group's entities lost $12.5 billion in market cap on Friday.

In the most high-profile legal case in the U.S. involving an Indian conglomerate, the SEC has been trying to send summons to Adani group founder Gautam Adani and his nephew Sagar since last year, reported Reuters on January 22.

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Adani Group vs US SEC: What's Brewing?

The Adani group stocks were subjected to immense pressure on Friday, January 23, after reports claimed that the US SEC has asked a US court for permission to directly email summons to Gautam Adani and group executive Sagar Adani over alleged fraud and a $265-million bribery scheme.

On other hand, reportedly Adani Group Chairman Gautam Adani's counsel on January 23 made their first submission in a US court after a year since SEC filed a bribery and securities fraud case against the billionaire and his nephew.

Meanwhile, the SEC requested for nod to proceed with issuing legal summons to Adani Group Chairman Gautam Adani and his nephew Sagar Adani. The application was made earlier this week before US District Judge Nicholas Garaufis in Brooklyn, New York, according to a Bloomberg report.

The US regulator mentioned that it had requested aid from Indian authorities to serve notices, however, there was no success in this matter, as per the filing cited by Bloomberg. 

The developments trace back to November 2024, when US authorities accused certain Adani Group executives of participating in an alleged bribery scheme involving payments to officials to secure electricity purchases from Adani Green Energy, a group subsidiary.

The SEC has since filed a civil lawsuit against Gautam Adani and Sagar Adani, which is separate from a criminal case initiated by the US Department of Justice against the Adani Group, which is stil underway.

According to a US law, foreign companies that taps US capital markets are forbidden from offering bribes and   raising funds through misleading disclosures.

However, the Adani Group has rejected the allegations, and described them as baseless, while signalling that they will avail all legal routes to defend itself.

Adani Group Stocks Nosedive Up To 14% On Jan 23 

The shares of Adani Green Energy Ltd, the company that's reportedly been the beneficiary in a alleged bribery case declined 14.6%. The sell-off was across Adani group entities with Adani Energy Solutions plunging 12%, Adani Enterprises Ltd falling 10.7%, Adani Power  by 5.5%. Adani Ports and Special Economic Zone declining 7.5%.