NewKerala.com

Adani Directors' Counsel Accepts Service in US SEC Case, Denies Charges

Counsel for Gautam and Sagar Adani has filed to accept service on their behalf regarding civil charges from the US Securities and Exchange Commission. The Adani Group has firmly denied all allegations, stating they are baseless and that the directors are presumed innocent. The company clarified it is not a party to the proceedings and that the charges do not include violations of the Foreign Corrupt Practices Act. The group asserts its commitment to the highest standards of governance and legal compliance across all jurisdictions.

Key Points: Adani Directors Accept Service in US SEC Case, Deny Charges

  • Counsel accepts service for US SEC charges
  • Adani Group denies all bribery allegations
  • Case filed in New York federal court
  • Group reiterates commitment to compliance
  • Not charged under Foreign Corrupt Practices Act
3 min read

Gautam and Sagar Adani's counsel files application before US SEC, agrees to accept service on their behalf

Gautam & Sagar Adani's counsel accepts service for US SEC civil charges. Adani Group denies all bribery allegations, calls them baseless.

"The allegations... are baseless and denied. - Adani Group Spokesperson"

Ahmedabad, January 31

Gautam Adani and Sagar Adani's counsel has filed an application "agreeing to accept service" on behalf of both the Adanis, related to the civil charges made against them in 2024 in the Securities and Exchange Commission in the United States District Court for the Eastern District of New York, according to a stock exchange filing from Adani Green Energy Ltd. In the US courts when a defendant or their attorney formally agrees receive legal documents directly, bypassing the need for a process server or sheriff, it acts as a valid, voluntary acknowledgment of receipt that satisfies due process.

Gautam Adani and Sagar Adani are directors of Adani Green Energy Limited, an Adani Group company.

"We understand that on January 30, 2026, Counsel for Defendants filed an application agreeing to accept service on behalf of the Defendants without accepting the jurisdiction of the EDNY and reserving all defenses the Defendants may raise, including as to jurisdiction," the stock exchange filing dated January 31 read.

The Adani Group company further stated that it understands that the Adanis have taken "procedural steps" and intend to move to dismiss the SEC's Complaint or file "responsive pleadings."

Through its latest stock exchange filing, the company reiterated that it is not a party to these court proceedings, and no charges have been brought against it.

"Further, as clarified in our intimation to the stock exchanges dated November 27, 2024 (1:16:32hrs), the Defendants have not been charged with violation/(s) of the United States Foreign Corrupt Practices Act i.e. there are no charges of bribery or corruption against the Defendants," the filing continued.

In November 2024, a five-count criminal indictment was unsealed in the United States District Court for the Eastern District of New York, charging both the Adanis of possible link to an alleged bribery and fraud scheme.

In its first reaction then, a spokesperson of Adani Group denied all allegations made by the US prosecutors.

"The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied. As stated by the US Department of Justice itself, "the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty." All possible legal recourse will be sought. The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," a statement from the Adani group had then said.

- ANI

Share this article:

Reader Comments

P
Priya S
It's disappointing to see such allegations against one of India's largest business groups. 🇮🇳 While they are presumed innocent, it does create uncertainty for investors. Hope the legal process is swift and transparent.
A
Aman W
The timing of these US charges always feels strategic, doesn't it? When an Indian conglomerate grows this big on the global stage, it attracts scrutiny. Let's see what evidence they actually have. Jai Hind.
S
Sarah B
As an investor, the repeated clarifications from the company are reassuring. They are being proactive with disclosures. The market seems to have priced this in already. The key is the eventual dismissal motion.
V
Vikram M
With all due respect, our corporate giants need to be beyond reproach. Whether these charges are true or not, such news hurts Brand India. We need impeccable governance, not just growth charts. This is a moment for introspection.
K
Karthik V
The filing is very clear - they are reserving all defenses, especially on jurisdiction. This is a legal chess game now. The Adani legal team is top-notch, they know what they're doing. Let the process play out.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50