Adani Group's US SEC, NY cases assigned to one judge for efficiency

US SEC and Eastern District of New York cases against Adani Group, alleging a $265 million bribery scheme, assigned to a single judge for smoother handling while remaining distinct

The civil and criminal cases against the Adani Group, pursued by the US Securities and Exchange Commission (SEC) and the Eastern District of New York, have not been “combined.” Instead, they have been assigned to a single judge in a US court to streamline proceedings and enhance efficiency, CNBC-TV18 reported.

 

Court orders dated December 12 and December 18, 2024, indicate that these cases were reassigned to one judge to prevent scheduling conflicts and ensure smoother handling.

 

While both cases, centred on allegations of a bribery scheme, are now overseen by US District Judge Nicholas Garaufis, they remain distinct. This means the civil and criminal proceedings will be heard separately, with individual judgments delivered for each.

 

A spokesperson for the US Department of Justice confirmed to CNBC-TV18 that the cases — one involving the SEC and the other brought by the Eastern District of New York — are being handled by the same judge but remain unmerged.

Allegations against Gautam Adani

Gautam Adani, chairman of the Adani Group, was indicted in November 2024 by US prosecutors for his alleged involvement in a bribery scheme. US authorities have accused Adani, his nephew Sagar Adani, and six others of a $265 million bribery and fraud scheme. Prosecutors allege they bribed Indian government officials to secure solar energy contracts, generating $2 billion in profits over two decades.

 

The US Securities and Exchange Commission (SEC) has charged Adani and others under the Foreign Corrupt Practices Act (FCPA). The indictment was filed in the US District Court for the Eastern District of New York.

 

The allegations also involve Adani Green’s $750 million bond issuance in September 2021, which included approximately $175 million from US investors. The SEC complaint claims the offering documents contained misleading statements about anti-corruption measures, misleading US investors.

 

A press release noted, “During the alleged scheme, Adani Green raised more than $175 million from US investors, and Azure Power’s stock was traded on the New York Stock Exchange.”

Political reactions and developments

Meanwhile, Andhra Pradesh Chief Minister N Chandrababu Naidu stated on Thursday that no action would be taken against the Adani Group without concrete evidence.

 

In related developments, US Attorney Breon Peace, who announced charges against Adani, and FBI Director Chris Wray have both stepped down in recent weeks.