Gautam Adani moves to dismiss US bribery-linked SEC case, escalating legal battle

Gautam Adani will seek to dismiss a US securities fraud case filed by the U.S. Securities and Exchange Commission, according to a court filing by his lawyers, Reuters reported, marking a fresh turn in a long-running legal standoff.

The SEC had, in November 2024, charged Adani and another executive with violating US securities laws by allegedly orchestrating a scheme to pay or promise hundreds of millions of dollars in bribes to Indian government officials to secure benefits for Adani Green Energy, where both served as executives and directors.

The securities fraud case is tied to ⁠Adani Green's ‌alleged failure to disclose the scheme in documents for a $750 ​million bond offering ​in 2021.


Also Read: US SEC fraud case against Gautam Adani can proceed after procedural matter resolved

Adani’s legal team has now moved to have the case dismissed, challenging the regulator’s claims as the proceedings regain momentum after months of little visible progress.

The case had been effectively stalled, in part because both defendants are based in India, with the SEC earlier flagging difficulties in serving them with legal papers.

Also Read: US regulator seeks to bypass Indian government to serve Adani summons

Parallel to the civil case, US prosecutors had filed a related criminal case in November 2024 against Adani and several other defendants. There have been no public developments in that case for over a year.

Adani is worth about $60.6 billion, ranking 30th worldwide according to Forbes magazine. (With inputs from Reuters)