Adani Case Escalates as US Regulator Tries Email Route; Here's Why

The US Securities and Exchange Commission (SEC) has asked a federal court for permission to serve legal summons to Gautam Adani and his nephew Sagar Adani through email and their US-based lawyers. This comes after Indian authorities declined to help deliver the notices through official channels, Reuters reported citing official filings.

The summons are part of a civil case linked to allegations made by US prosecutors in November 2024. American authorities allege that over $250 million in bribes were paid to Indian government officials between 2020 and 2024 to secure favourable solar power contracts for Adani Green Energy and Azure Power Global. Following this, eight individuals were indicted in the case, the report added.

The US Department of Justice (DoJ) opened a criminal investigation, while the SEC is pursuing a parallel civil case against Gautam and Sagar Adani and former Adani Green Energy chief executive Vneet Jaain. The SEC has alleged that Adani Green Energy raised about $2 billion from American and foreign investors using false and misleading statements about its anti-bribery and anti-corruption practices.

To formally notify the Adanis of the civil case, US law requires summons and complaints to be served personally. The SEC initially sought help under the Hague Convention, an international treaty that allows legal documents to be served across borders through designated government authorities. In India, this role is handled by the Department of Legal Affairs under the Ministry of Law and Justice.

However, the SEC reportedly told the court that India’s law ministry rejected its request twice over the past 14 months. According to the regulator, its first request sent in February 2025 was returned in April that year due to the absence of a signature or official seal. The SEC said it clarified that such formalities are not required under the Hague Convention, but the request was again returned in December 2025, with the ministry stating that the SEC’s own rules did not cover the summons in this case.

“These responses demonstrate that further attempts through the Hague Convention are unlikely to succeed,” the SEC reportedly said in a court filing dated 21 January 2026.

In the same filing, SEC lawyer Christopher M. Colorado argued that alternative service methods should be allowed because both Gautam and Sagar Adani are already fully aware of the case. He pointed out that Gautam Adani has spoken publicly about the matter, including at the Adani Group’s annual general meeting in June 2025.

The filing also noted that both men have hired prominent US law firms that have been actively communicating with the SEC. Serving summons through these lawyers and via email would meet due process requirements, the SEC argued.

The Adani Group has denied all allegations, calling them “baseless,” and has reiterated its commitment to governance, transparency and regulatory compliance.

The development comes at a time of strained India–US relations, marked by trade disputes and differences over India’s continued purchase of Russian oil. At the same time, officials from both countries are working on a broader trade agreement aimed at protecting sensitive sectors such as agriculture and dairy.

Following this move by SEC, shares of the Adani group firms fell between 5% and 14% on Friday. Shares of the flagship company, Adani Enterprises were trading 9% lower at ₹1890.23 apiece, its lowest level since May 19, 2023.

Adani Energy Solutions shares fell over 12% to ₹811.65 apiece. Adani Ports stock was trading 7% lower at ₹1,311 apiece. Adani Green Energy stock declined the most among the Adani Group stocks at 14.4%.