Latest Updates on Gautam Adani SEC indictment

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

The Congress on Tuesday flagged media reports claiming that SEBI has warned two offshore funds holding Adani Group shares with penalties and said the market regulator's actions might appear on the surface to represent progress but the probe has dragged on for over two years with the conglomerate benefitting from the delay. There was no immediate reaction from the Securities and Exchange Board of India (SEBI) or the Adani Group on the claims. Congress general secretary in-charge of communications, Jairam Ramesh, said the "double-engine" Modani saga continues. "SEBI has reportedly threatened two Mauritius-based offshore funds controlled by Elara Capital --? Elara India Opportunities Fund and Vespera Fund --? with penalties and licence cancellations for failing to provide shareholding details," he said on X. Ramesh said, these funds have been accused of "stock parking" -- being fronts for benami Adani investments in their own companies in violation of SEBI rules. "The two funds have

With the government sacking R P Gupta as the Chairman and Managing Director of Solar Energy Corporation of India, the Congress on Monday sought to link it to charges against billionaire Gautam Adani and his associates by US authorities and said the Adani "scam" cannot be covered up. Congress general secretary in-charge communications Jairam Ramesh said the public sector Solar Energy Corporation of India (SECI) was indicted on November 20, 2024, by US authorities in the chargesheet against Gautam Adani and his close associates. "It was based on SECI's recommendation that different states entered into purchase agreements with Adani. Bribes worth Rs 2,029 crores were then reportedly offered and promised to Indian government officials in exchange for these agreements, which were then finalised," Ramesh said. In an implicit admission of corruption, in December 2024, SECI changed the way it issues power tenders, he said. "Now the CMD of SECI, occupied by a post-retirement bureaucrat ...

US SEC accused Gautam Adani, his nephew Sagar Adani, and other executives of securities fraud, wire fraud, obstruction of justice, and violations of the Foreign Corrupt Practices Act

Adani Green Energy has said an independent review of its regulatory compliances related to an alleged breach that led to the indictment of founder chairman Gautam Adani and two company executives in a US court, did not find irregularities or non-compliances on the issue. In November last year, US authorities charged Adani, his nephew and executive director Sagar Adani and managing director Vneet S Jaain for being involved in an alleged scheme to pay bribes to Indian government officials to win solar energy contracts, and concealed the plan as they sought to raise money from US investors. In its FY25 earning announcement, Adani Green Energy - the firm at the heart of allegation of USD 265 million bribes allegedly being paid to Indian officials to secure solar power sale contracts that could bring in USD 2 billion of profits over 20 year period to the firm - said its holding company has not been named as a defendant in the indictment and civil complaint and the matter was pending for .

The summons would require Gautam Adani or his legal counsel to appear in the case in the United States

Fitch said the indictment for alleged securities and wire fraud reflects a corporate governance risk for AESL

Adani Green Energy Ltd had earlier shelved its planned $600 million bond offering in November 2024 following the US indictment of key executives, including Chairman Gautam Adani

In February 2025, Trump ordered a halt to FCPA enforcement, a move that industry observers believe could weaken the legal case against the Adani executives

The reports, published independently by seven of the group's listed entities, detail direct and indirect tax contributions across global

The US SEC has invoked the Hague Service Convention to serve legal documents to Gautam Adani and his nephew Sagar Adani. Here's you need to know about the convention

The US Securities and Exchange Commission (SEC) has told a federal judge here that its efforts to serve its complaint on Gautam Adani and Sagar Adani in the alleged bribery scheme are ongoing, including through a request for assistance to the Indian authorities. The SEC submitted a status update Tuesday to Judge Nicholas Garaufis at the United States District Court, Eastern District of New York regarding its efforts to serve its complaint on Gautam Adani and Sagar Adani. The SEC said that both Gautam Adani and Sagar Adani are located in India, and the SEC's efforts to serve them there are ongoing, including through a request for assistance to the Indian authorities to effect service under the Hague Service Convention for Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters. The SEC said that its complaint dated November 20 last year alleges that Gautam Adani and Sagar Adani violated the antifraud provisions of the federal securities laws by knowingly

Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy

The six Congressmen questioned why the DOJ proceeded with the indictment despite the allegations being centred in India, involving Indian officials