Gautam Adani and Sagar Adani agree to accept service in U.S. SEC lawsuit
Guwahati: Billionaire Gautam Adani and his nephew Sagar Adani have agreed to accept service of a legal notice from the U.S. Securities and Exchange Commission (SEC) in a civil lawsuit accusing them of misleading investors about a bribery scheme, according to a court filing.
The agreement is pending approval from the federal court.
In filings submitted to the Eastern District Court of New York, lawyers representing the Adanis and the SEC confirmed that the defendants’ legal team had agreed to receive the regulator’s documents, eliminating the need for the court to decide on formal service procedures.
If approved, this will allow the SEC case to move forward while giving the Adanis up to 90 days to respond either by filing a motion to dismiss or submitting their defence.
The SEC would then have 60 days to submit a response, with the defendants able to file a reply within 45 days.
The SEC first filed its civil complaint in November 2024, alleging that Gautam and Sagar Adani violated U.S. securities laws by making false or misleading statements regarding Adani Green Energy Limited (AGEL).
Separately, federal prosecutors in Brooklyn have charged the Adanis and others with allegedly facilitating a $265 million bribery scheme in India aimed at securing solar power contracts.
The Adani Group has consistently denied all allegations against the company and its founder family. Both legal matters have been delayed for over a year because the defendants were in India and could not be formally served.
Last week, the SEC requested the court to allow alternative methods of notification, including service via email and through U.S.-based law firms representing the Adanis.
AGEL, in a stock exchange filing, described the acceptance of the notice as a routine procedural step and confirmed that the defendants plan to either move to dismiss the SEC’s complaint or file their response.
“On January 30, 2026, counsel for the defendants filed an application agreeing to accept service on behalf of the defendants, without conceding the jurisdiction of the Eastern District of New York, while reserving all available legal defenses,” the company said.
AGEL also clarified that neither Gautam nor Sagar Adani have been charged under the U.S. Foreign Corrupt Practices Act and that the company itself is not a party to the proceedings.
The filings clarified that the civil case concerns only the two directors, and no criminal charges have been filed against them.
Gautam Adani has engaged prominent Wall Street attorney Robert Giuffra Jr., co-chair of Sullivan & Cromwell and legal counsel to former U.S. President Donald Trump, to represent him and his nephew in the matter. Giuffra confirmed in court that he had agreed to accept service on their behalf.
According to the joint filing, the SEC had previously requested assistance from India’s Ministry of Law and Justice under the Hague Convention to serve the defendants, but service had not yet been completed.
Following the January 21, 2026 motion for alternative service, U.S. counsel agreed to accept the process on January 23, removing the need for a separate court ruling.
AGEL stated that its business operations are continuing normally worldwide, with projects and commitments on track and its financial position stable.
The Adani Group reiterated its commitment to strong governance, adherence to regulations, and transparent operations across all regions. The company added that the SEC case will proceed through the U.S. legal system.