The U.S. Securities and Exchange Commission (SEC) has filed a civil fraud lawsuit which Gautam Adani and his nephew Sagar Adani have agreed to accept through their legal representatives according to a Brooklyn federal court document. The agreement eliminates the need for a judge to decide on alternative service methods and allows the legal process to move forward.

The Adanis misled investors about Adani Green Energy Limited (AGEL) according to the lawsuit which was filed in November 2024 and claimed that the Adanis participated in a $265 million bribery scheme to obtain solar contracts in India. Both Gautam and Sagar Adani have repeatedly denied all accusations.

According to the joint court filing, the Adanis will have 90 days to file a motion to dismiss or submit a defense after approval, which allows the SEC to respond within 60 days while the Adanis have 45 days to reply. AGEL clarified in a stock exchange filing that the company itself is not a party to the proceedings and no charges have been filed against it.

Gautam Adani has hired Robert Giuffra Jr. who serves as a prominent Wall Street lawyer and has defended famous clients such as former U.S. President Donald Trump. The agreement maintains all defenses which include jurisdictional challenges. The group maintains its standard business operations while AGEL business activities proceed normally through the company’s complete compliance with regulatory requirements and governance standards and transparency rules in every operational area.