Latest Updates on Gautam Adani SEC indictment

A 10-week defence campaign involving about 600 pages of legal submissions, presentations and expert testimony helped persuade the US Justice Department to drop bribery and securities fraud charges against billionaire Gautam Adani, according to newly unsealed court filings that detail how one of the year's highest-profile corporate prosecutions was abandoned. Robert J. Giuffra Jr, Adani's lead lawyer and co-chair of Sullivan & Cromwell, in a July 14 filing said the effort, which ran from February 3 to April 17, included a 118-page submission to prosecutors, a 12-page supplemental filing and two slide presentations totalling 130 pages. A separate 151-page presentation was also submitted to the US Securities and Exchange Commission in March. The filing provides the clearest public account yet of how federal prosecutors reversed course in one of the year's most closely watched corporate prosecutions. The case began on November 20, 2024, when US prosecutors unsealed an indictment ...

US legal experts said it would be highly unusual for a federal court to reject the Department of Justice's request to dismiss the criminal case against Indian billionaire Gautam Adani, after prosecutors set out detailed legal and policy reasons for seeking to drop the indictment. Under Rule 48(a) of the Federal Rules of Criminal Procedure, the Justice Department must obtain the court's permission to dismiss an indictment. While judges may seek additional information or hold hearings before ruling, legal experts said there is little modern precedent for compelling prosecutors to continue pursuing a case the executive branch has decided to abandon. "It would be very unusual if the courts were to do anything more than accept the department's reasoning and dismiss the case," Adam Goldberg, Corporate Investigations Partner at Pillsbury, told PTI Videos. "The Department of Justice has provided tremendous amounts of detail not just with respect to a host of reasons why it does not want to .

The Gautam Adani bribery and fraud case in the US is nearing closure after reports said the Adani Group chairman has agreed to settle the SEC's civil lawsuit

Adani and his nephew Sagar agreed to pay a total of $18 million to settle Securities and Exchange Commission allegations that they made false and misleading representations about Adani Green Energy

The Congress on Thursday attacked Prime Minister Narendra Modi over media reports claiming that US authorities are moving to drop charges against billionaire Gautam Adani, saying it is now clear why the PM agreed to the "hopelessly one-sided" Indo-US trade deal and why he abruptly halted Operation Sindoor. The opposition party's attack came after media reports claimed that US authorities are moving to settle the fraud charges against the Indian billionaire. Reacting to the reports, Congress general secretary in-charge communications Jairam Ramesh said, "It is now clear why the PM agreed to the hopelessly one-sided Indo-US trade 'deal' that was really a steal by the US. And it is also clear why he abruptly halted Operation Sindoor on May 10 2025, acting on President Trump's threats rather than on our national interest." "Reportedly, the Trump Administration is about to drop all charges of corruption against Modani," he said on X. How much more "compromised" can the PM get, Ramesh ..

Ending the cases would be a significant boon to the Adani Group, one of India's most powerful companies, whose interests range from coal mining to renewable energy and airports

The US Securities and Exchange Commission and Indian businessmen Gautam Adani and Sagar Adani have jointly requested a US court for more time to file key submissions in a civil securities case, proposing a revised schedule for motions and responses. In a filing before the US District Court for the Eastern District of New York, the parties said they had conferred in line with the court's April 7 directive and agreed on a new timeline, which has been submitted for approval to Judge Nicholas G Garaufis. The SEC had sued Adani Group founder Gautam Adani and his nephew, Sagar, in November 2024, alleging they had misled investors by failing to disclose an alleged bribery scheme tied to Indian state officials, framing the case under US securities laws. Denying all allegations, the two, through their lawyers, on April 7, filed a pre-motion letter ahead of a planned April 30 motion, seeking dismissal of a fraud lawsuit, arguing the case represents an impermissible extraterritorial applicatio

Lawyers for the Indian billionaire and his nephew Sagar said in a letter to a federal judge that they will formally seek to dismiss the case by the end of the month

Adani's lawyers said the SEC's claims were "impermissibly extraterritorial," and no ​statements challenged by the regulator were ‌actionable

In a Friday filing in a Brooklyn federal court, the SEC and US lawyers for Gautam and Sagar Adani said they agreed to accept legal papers, removing the need for a judge's ruling on service

A move last week by the US SEC to advance its stalled fraud case against Adani brought another reminder of the uncertainties burnishing the appeal of local funding

The SEC's lawsuit alleges that Gautam and his nephew Sagar Adani violated US securities laws by making false and misleading representations about Adani Green Energy Ltd

The SEC's lawsuit, filed in November 2024, alleges that Gautam and Sagar Adani violated US securities laws by making false and misleading representations about Adani Green Energy Ltd

A US government shutdown has furloughed SEC staff and delayed filings in the civil securities lawsuit against Gautam Adani, even as related criminal proceedings continue

Adani Group companies continued to rally on Monday, adding Rs 1.78 lakh crore in market valuation in two days, propelled by heavy buying in listed stocks following markets regulator Sebi's clean chit in the Hindenburg case. The regulator's order, which dismissed allegations of stock manipulation and related-party misuse, has led to optimistic investor sentiment, sending Adani stocks sharply higher for the second day in a row. Shares of Adani Power jumped 19.99 per cent to hit its upper circuit limit of Rs 170.15 apiece on the BSE. The stock of Adani Total Gas skyrocketed 19.87 per cent, Adani Green Energy zoomed 11.75 per cent, Adani Energy Solutions surged 6.94 per cent, Adani Enterprises Ltd climbed 4.24 per cent, Ambuja Cements rallied 1.43 per cent, Adani Ports went up by 1.17 per cent, NDTV edged higher by 1.12 per cent and ACC (0.30 per cent). Together, these firms added Rs 1,78,598.41 crore in market valuation in two days. The rally in the stocks came after Sebi on Thursday

In November 2024, US SEC alleged Gautam Adani and nephew Sagar Adani paid or promised bribes to secure Indian state energy contracts for 'Manufacturing Linked Projects'

Congress MP Rahul Gandhi said that Prime Minister Narendra Modi cannot stand up to US President Donald Trump's tariff threat because of the ongoing investigation against Gautam Adani in the US

With a cash payout of ₹3,500 crore, the Adani Group is leading the race to acquire Jaiprakash Associates. The offer also includes retaining ₹890 crore within the company after its acquisition

Gautam Adani dismissed allegations of US bribery and obstruction, reaffirming the group's compliance and governance standards while highlighting record-breaking growth

Gautam Adani pledges $15-20 billion in yearly investments over five years, asserting global governance standards as US probes Adani Green's compliance