New York/New Delhi: Billionaire Gautam Adani and his nephew, Sagar Adani, have agreed to receive legal notices from the US Securities and Exchange Commission in a civil fraud lawsuit alleging they misled investors about a bribery scheme, according to a court filing. According to PTI report, this condition is subject to the approval of the court.In a filing in a federal court in Brooklyn, the SEC and Gautam and Sagar Adani’s US-based lawyers said the lawyers have agreed to accept service of the regulator’s legal papers, removing the need for a judge to rule on how the defendants should be served. The joint application has been submitted to the concerned court for approval. This is a standard procedural step in American legal proceedings.SEC case against Adanis: Judge to consider joint petitionIf agreed to by the judge, the joint application will allow the SEC case to move forward, while also giving the Adanis 90 days time to file their motion for dismissal or defend themselves. After this, SEC can file its opposition within the next period of 60 days. The defendant may file its reply to such opposition within 45 days.The SEC filed a lawsuit in November 2024 alleging that the duo violated US securities laws by making false and misleading representations about Adani Green Energy Limited (AGEL). In addition to the SEC’s civil complaint, federal prosecutors in Brooklyn have charged Adani and others with allegedly helping run a $265 million bribery scheme in India to win solar power contracts. Adani Group has repeatedly denied all allegations made against it or the founding family.Both the suits have been stalled for more than a year because both Adanis are in India and notices could not be served to them. Last week, the SEC asked a US judge to allow alternative methods of being notified about the lawsuit, including service by email and through other US law firms representing Adanis.AGEN said the defendants – Gautam and Sagar Adani – agreeing to accept the notice is a procedural step and they will seek dismissal of the SEC’s complaint or file a responsive pleading. “We understand that on January 30, 2026, counsel for the defendants filed an application agreeing to accept service on behalf of the defendants without ceding the jurisdiction of the Eastern District of New York and reserving all defenses that may be raised by the defendants, including jurisdiction,” it said.Citing its previous statement, AGEN said Gautam Adani and Sagar Adani, who are directors on its board, “have not been charged with violations of the United States Foreign Corrupt Practices Act, meaning there are no allegations of bribery or corruption against the defendants.” Furthermore, “the Company is not a party to these proceedings, and no allegations have been made against it.” PTI
