Adani, Sagar Agree To $18 Million SEC Settlement
Gautam Adani and his nephew Sagar Adani have agreed to pay a combined $18 million to settle allegations brought by the US Securities and Exchange Commission over statements linked to Adani Green Energy. The proposed settlement still requires approval from a US federal judge.
Adani SEC Settlement Details
Under the proposed agreement, Gautam Adani will pay $6 million, while Sagar Adani will pay $12 million. The settlement relates to an SEC lawsuit filed in November 2024, alleging that the two made false and misleading representations about Adani Green Energy’s compliance with anti-bribery rules.
The SEC had alleged that the statements were connected to a $750 million bond offering, through which Adani Green raised at least $175 million from US investors.
US Fraud Case Against Adani
The regulator had claimed that Gautam Adani was involved in an effort to pay or promise large sums in bribes to Indian officials to secure contracts for a major solar power project. The Adani Group had denied the allegations when the case was filed.
The SEC case did not name the Adani Group or its corporate units as defendants. Gautam Adani chairs the Adani Group, while Sagar Adani is executive director at Adani Green Energy.
Adani Group International Market Plans
The settlement could help clear a major legal hurdle for the conglomerate as it looks to return to international capital markets. The US Justice Department is also reportedly moving to drop fraud charges against Gautam Adani in a parallel criminal case.
If both developments are finalised, they could ease pressure on the Adani Group’s overseas financing plans and support its wider expansion strategy across sectors including renewable energy, airports and infrastructure.
