Gautam Adani and Sagar Adani agreed to pay $18 million to settle SEC disclosure allegations linked to Adani Green Energy Ltd
Under the proposed settlement, Gautam Adani will pay $6 million and Sagar Adani $12 million, pending court approval in the US
Both have agreed to a final court order in the case without accepting or rejecting the allegations made in the complaint
Gautam Adani and his nephew Sagar Adani have agreed to pay a combined $18 million to settle allegations raised by the US Securities and Exchange Commission (SEC) over claims of misleading disclosures linked to Adani Green Energy Ltd.
Under the proposed deal, Adani will pay $6 million while Sagar Adani will pay $12 million. The settlement has been filed in a US federal court and will only take effect after a judge gives approval.
Both individuals have sought entry of a final judgment on consent. They have agreed to the order without admitting or denying the allegations mentioned in the civil complaint.
1 May 2026
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The case now moves to the US Eastern District Court, where the proposed settlement has been formally placed for judicial consideration.
Adani SEC Case Details
According to Bloomberg, the US Department of Justice (DOJ) is also considering dropping related criminal fraud charges against Gautam Adani in a parallel case, though a final decision is still pending.
The SEC had filed the case in November 2024, alleging that Gautam Adani was linked to alleged bribe payments or promises made to Indian officials to secure contracts for a large solar power project.
The regulator also claimed that Adani Green Energy misrepresented compliance with anti bribery laws while raising funds through a $750 million bond issuance.
In the same period, the SEC said the company raised at least $175 million from US based investors, forming part of its wider scrutiny of disclosures.
US Legal Proceedings Update
Notably, the SEC did not name the Adani Group or its subsidiaries as defendants in the case. The company had earlier denied all allegations made by the regulator.
The Justice Department’s criminal case reportedly slowed because the accused individuals were not physically present in the United States, although civil proceedings continued in court.
Court filings also show that US based legal representatives agreed to accept formal service of documents on behalf of Sagar Adani, allowing the case to move forward procedurally.
Separately, Gautam Adani’s legal team has challenged the jurisdiction of the SEC, arguing that the alleged statements do not fall under enforceable US securities rules.
