SEC continues with civil fraud case against Gautam Adani

January 31, 2026

The U.S. Securities and Exchange Commission has taken a significant step forward in its civil fraud case against Gautam Adani, moving to officially serve him with the lawsuit. This development enables the regulator to proceed with legal action against the Indian billionaire, who currently holds the title of India’s second-richest individual.

In a recent filing in a federal court in Brooklyn, New York, the SEC disclosed that attorneys representing Adani and his nephew, Sagar Adani, have agreed to accept the agency’s legal documents. This agreement eliminates the need for U.S. District Judge Nicholas Garaufis to intervene and determine the formal serving process for the defendants.

Upon court approval of this arrangement, the Adanis will have a 90-day window to respond to the SEC’s complaint, with the option to contest the case. Notably, the attorneys involved refrained from providing comments, including Gautam Adani’s lawyer Robert Giuffra and Sagar Adani’s counsel Sean Hecker.

The SEC initially levied charges against the Adanis in November 2024, alleging violations of U.S. securities laws due to their alleged involvement in a scheme to pay significant amounts in bribes to Indian government officials. The purported aim of these actions was to benefit Adani Green Energy, a company where Gautam and Sagar Adani hold key executive positions.

Both individuals are located in India, posing hurdles for the SEC in formally serving them legal notices. Additionally, U.S. prosecutors initiated a parallel criminal case in November 2024 against the Adanis and other parties, leading to a period of minimal public activity in the months that followed while the SEC’s civil case was paused.

Gautam Adani, aged 63, serves as the founder and chairman of the Adani Group, with Forbes estimating his net worth to be approximately $59 billion. As the legal proceedings unfold, the outcome remains uncertain, underscoring the importance of continued monitoring of the developments in this high-profile case.