How Gautam Adani Reached an $18 Mn SEC Settlement Deal | A Timeline

Gautam Adani has agreed to pay $6 million to the Securities and Exchange Commission (SEC) for allegations of breaking US securities rules by making false and misleading representations about Adani Green Energy Ltd. to US investors.

The complete settlement, subject to court approval, involves an $18 million penalty of which the balance $12 million will be paid by his nephew Sagar Adani, who was also facing the SEC claims.

According to multiple media reports, the US Justice Department is also likely to drop charges against Adani in a criminal fraud case which was brought on by prosecutors during the Biden Administration.

Why SEC Charged Adani

The SECs complaint against Gautam and Sagar Adani were related to allegations of bribery to win solar energy contracts awarded by the Government of India.       

The allegations accused him and his nephew along with six other individuals of paying bribes up to $265 million to government officials with the aim of securing solar energy contracts in India. The allegations from the prosecution also stated that the Adani’s lied to US investors about the bribery scheme when they were trying to raise money from American markets.

As part of the defense Adani’s new legal team led by Robert Guiffra Jr., who is also the personal lawyer for President Trump, stated that the SEC had no credible evidence supporting the bribery claims. The defendants also argued that the SEC lacked jurisdiction in the case as the alleged events all happened in India and Adani is himself an Indian Citizen.

Timeline of Adani-SEC Case

On November 20, 2024, the SEC filed a civil lawsuit against Adani in the Eastern District of New York, alleging violations of US securities laws in relation to a bribery scheme for securing solar energy contracts.

Next month, on December 12, 2024, the SEC case and a criminal indictment against Adani were both marked as related cases for Coordinated scheduling.

Due to the defendants residing in India both the criminal and civil cases remained stalled for over a year. The SEC reported difficulties in obtaining assistance from Indian authorities to serve the summons.

On January 23, 2026, the SEC moved the court asking to send legal notices to Adani and others. Following the SECs procedural request, Adani related equities fell, erasing $13 billion from the market.

Later that week Adani hired top Wall Street lawyer Robert Guiffra Jr. to lead his legal team in the case.

On April 7, 2026, Adani’s representatives filed a pre-motion letter, seeking to dismiss the suit on grounds of improper extraterritorial application of US law. This claim of the SEC not possessing jurisdiction in the case became the backbone of the defendant’s arguments in the case.

On May 15, 2026, the SEC and Adani announced that they had agreed on an $18 million settlement offer in the case bringing legal proceedings to a close. Media reports say that the charges in the related criminal case are also likely to be dropped.

A $10 billion Investment Offer

Some media report stated that Adani’s legal team promised to release investments worth $10 billion that he had promised in wake of President Trumps election.

A report from The New York Times, the investments they claimed remained frozen due to the criminal charges against Adani. If released the investments promise to bring around 15,000 jobs to the American economy.

Although the prosecutors told Adani’s legal team that the investment would hold no bearing in the resolution of the case, the report added.