Indian magnate Gautam Adani has agreed to pay $6 million to settle US SEC allegations tied to Adani Green Energy, according to Bloomberg Law, in a proposed deal that would put a civil securities case on a path toward closure but still leave a judge with the final say.
His nephew, Sagar Adani, would pay $12 million, bringing the proposed SEC resolution to $18 million.
The amount is modest against the scale of the case. The SEC’s complaint, filed in November 2024, centered on a $750 million Adani Green note offering that allegedly raised about $175 million from US investors while company materials included anti-bribery and compliance representations the regulator said were materially false or misleading.
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The commission alleged that Gautam and Sagar Adani were involved in a scheme to pay or promise hundreds of millions of dollars in bribes to Indian government officials to secure power-purchase commitments for solar projects.
The Justice Department’s parallel criminal indictment was broader. In November 2024, US prosecutors alleged schemes involving more than $250 million in bribes to Indian officials, false statements to investors and banks, and obstruction of justice. Prosecutors said the solar contracts were expected to generate more than $2 billion in after-tax profits over roughly 20 years.
READ: US Court Indicts Gautam Adani for Largest Corporate Scandal in India’s History
The case has been complicated by President Donald Trump signing an executive order pausing the enforcement of the Foreign Corrupt Practices Act, a landmark 1977 statute prohibiting American companies and certain foreign firms from bribing foreign government officials to secure business advantages.
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Adani Group has denied the US allegations. Reuters reported after the November 2024 SEC summons that the group called the charges baseless.
In April, Reuters reported that lawyers for Gautam and Sagar Adani planned to seek dismissal of the SEC case, arguing there was no credible evidence of the alleged scheme, that the Adanis were not involved in the bond offering, and that the SEC’s claims improperly reached conduct outside the United States.
The settlement would then represent a shift from contesting the case toward ending it on negotiated terms. The proposed agreement, however, still needs court approval before it becomes final.
The SEC civil settlement, if approved, would not by itself erase the criminal case. Reuters reported separately that the Justice Department is close to dropping related criminal fraud charges against Adani, citing two people familiar with the matter.
The litigation had already carried market consequences. In January 2026, Adani Group companies lost about $12.5 billion in market value after the SEC sought court permission to serve summonses on Gautam and Sagar Adani by email, Reuters reported. Adani Enterprises was the worst percentage decliner on India’s Nifty 50 that day, while group shares closed down between 3.4% and 14.54%.
Adani Green has also tried to separate the listed company from the individual legal proceedings. In February, the company said it was not a party to the SEC civil case against Gautam and Sagar Adani, according to The Economic Times.
Information for this story was found via the sources and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
