Key Takeaways
- Adani Green Energy clarifies it is not part of the SEC case against Gautam and Sagar Adani.
- The SEC alleges the Adani brothers were involved in a bribery scheme totaling $265 million.
- No charges of bribery or violations of the US Foreign Corrupt Practices Act have been made against the directors.
Clarification from Adani Green Energy
Adani Green Energy issued a clarification regarding the civil case filed by the US Securities and Exchange Commission (SEC) against its directors, Gautam Adani and Sagar Adani. The company emphasized that it is not a party to the legal proceedings and has not been charged in connection with the case.
The SEC’s case is a civil matter being heard in the US District Court for the Eastern District of New York, focused solely on the two individuals in their personal capacities. In its exchange filing, Adani Green Energy reiterated this clarification, which follows earlier statements made in November 2024 and January 2026.
On January 30, 2026, counsel for both Gautam and Sagar Adani filed an application agreeing to accept service of legal papers on their behalf. However, it was made clear that this action does not equate to accepting the jurisdiction of the US court, allowing them to reserve all available defenses, including questions regarding jurisdiction.
Additionally, the company emphasized that no charges of bribery or corruption have been filed against either director. It highlighted that as previously reported to stock exchanges, there are no allegations of violating the US Foreign Corrupt Practices Act against them.
The SEC has alleged that the Adani brothers violated antifraud provisions of US federal securities laws, claiming they orchestrated a substantial bribery scheme. This scheme reportedly involved payments or promises totaling approximately $265 million made to Indian government officials from 2020 to 2024.
Adani Green Energy’s reiteration serves to clarify its position and that of its directors amidst these serious allegations. The company remains committed to transparency and maintaining its operational integrity while the legal proceedings unfold.
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