- Legal Notice Hurdle Cleared
- Global Reputation Under Strain
- Investigation Gathers Momentum
Article Today, New Delhi:
A key procedural hurdle has been cleared in the fraud case filed by the United States Securities and Exchange Commission against the Adani Group. With the issue of serving legal notices now resolved, the American court has opened the way for the investigation to move ahead. This development tightens legal scrutiny around industrialist Gautam Adani and accelerates the pace of proceedings.
Consent to Receive Notices
Adani’s legal representatives informed the U.S. court that they would accept all statutory notices on behalf of their client. Earlier, the SEC had argued that serving notices was difficult as Adani was based in India. However, the lawyers’ formal consent removed this obstacle. Consequently, the judge allowed the case to proceed without further delay.
Background of Allegations
The SEC has alleged that Adani offered large bribes to secure advantages for Adani Green Energy projects. According to the complaint, plans were made to pay more than Rs. 2,100 crore to Indian government officials. Although the case was filed in November 2024, it remained stalled due to procedural issues related to service of notices.
Time Granted for Response
If the court formally records the agreement, Adani will receive a 90-day window to respond to the SEC’s complaint. During this period, he may seek dismissal of the charges or challenge the allegations legally. However, with the notice process nearing completion, options to delay the proceedings appear limited.
Criminal Case in Limbo
Alongside the civil action, U.S. prosecutors had earlier filed criminal charges against Gautam Adani, Sagar Adani, and others. That criminal case has seen little progress over the past year. Meanwhile, renewed movement in the civil case has revived attention on the broader legal risks facing the group.
Impact on Wealth and Business
According to Forbes estimates, Gautam Adani’s net worth stands at around Rs. 4.95 lakh crore, placing him among the world’s leading billionaires. Analysts note that the U.S. investigation could have significant implications for the Adani Group’s global operations. In addition, the case has raised concerns about reputational damage in international markets.
Court’s Next Steps
The matter is being reviewed by Brooklyn Federal Court Judge Nicholas Garaufis. Once he formally validates the lawyers’ consent, the investigation will move into its next phase. Meanwhile, the Adani Group has engaged prominent Wall Street law firms to mount its defence and prepare for an extended legal battle.
