Indian industrialist who is the founder and chairman of the Adani Group and executive chairman of Adani Enterprises Ltd and Adani Ports and Special Economic Zone Ltd.
Most recent filing 28 Sep 2026Last confirmed 26 Oct 202631 sources
Question
What is Gautam Adani’s legal position?
Present position
SettledPresent position
Settled by Gautam Adani on 28 Sep 2026 without admission; the settlement amount was not divided between applicants in the order.
Detail
SEBI proceedings on alleged minimum public shareholding (MPS) violations by four Adani Group companies
Settled
Settled by Gautam Adani on 28 Sep 2026 without admission; the settlement amount was not divided between applicants in the order.123
Authority
Securities and Exchange Board of India (Whole Time Member Kamlesh Chandra Varshney)
Status as of
28 Sep 2026
History
23 Oct 2020SEBI opened an investigation after complaints in 2020.
27 Sep 2024Show-cause notice issued (supplementary notice 3 Mar 2025) alleging MPS non-compliance from June 2013 to June 2018.
28 Sep 2026Gautam Adani, four group companies and 13 others settled for a total of Rs 1.48 crore without admitting or denying the findings; SEBI final order found central allegations against Vinod Adani not established.
U.S. federal criminal indictment (Adani Green / solar contracts), E.D.N.Y.
Closed
The criminal charges against Gautam Adani were dismissed with prejudice on 10 Aug 2026 without a trial or finding on the merits; FCPA and obstruction counts against five co-defendants (not Adani) remained pending after the court denied their dismissal on 3 Sep 2026.4567891011
Authority
U.S. Attorney's Office, Eastern District of New York; DOJ Criminal Division Fraud Section; U.S. District Court E.D.N.Y. (Judge Nicholas G. Garaufis)
Status as of
10 Aug 2026
History
20 Nov 2024Five-count indictment (24-CR-433) unsealed; Gautam Adani charged with securities fraud conspiracy, wire fraud conspiracy and securities fraud. He was not named in the FCPA conspiracy or obstruction counts.
21 Nov 2024Adani Group spokesperson called the allegations against Adani Green directors baseless and denied them.
18 May 2026DOJ moved to dismiss the indictment with prejudice against the individual defendants, citing prosecutorial discretion.
26 Jun 2026Judge Garaufis declined to approve dismissal immediately under Rule 48(a) and ordered DOJ to state each reason, with factual support, by 13 Jul 2026.
15 Jul 2026Adani filed a sworn declaration, in response to a court order, stating he was not aware of anything promised, offered or agreed in connection with the dismissal.
10 Aug 2026Court granted DOJ's Rule 48(a) motion in part, dismissing Counts Two-Four with prejudice against Gautam Adani, Sagar Adani and Vneet Jaain; no trial or merits finding.
3 Sep 2026Court denied without prejudice the remaining part of DOJ's motion, leaving the FCPA conspiracy and obstruction conspiracy counts pending against five co-defendants (not Gautam Adani).
SEC civil enforcement action (Adani Green 2021 note offering)
Settled
Resolved by consent final judgment entered 10 Aug 2026, with no admission of the allegations (except as to jurisdiction).1213141516178
Authority
U.S. Securities and Exchange Commission; U.S. District Court E.D.N.Y.
Status as of
10 Aug 2026
History
20 Nov 2024SEC filed complaint (24-cv-08080) alleging antifraud violations relating to Adani Green's $750 million September 2021 note offering.
Aug 2025SEC told the court Indian authorities had not yet served the summons on Gautam and Sagar Adani.
30 Jan 2026SEC filed notice that Gautam and Sagar Adani agreed to accept service, subject to court approval.
7 Apr 2026Court granted the Adanis' request for a pre-motion conference on a proposed motion to dismiss (personal jurisdiction, extraterritoriality); no ruling on the merits.
14 May 2026Proposed consent settlement disclosed: Gautam Adani to pay a $6 million civil penalty and Sagar Adani $12 million, subject to court approval.
10 Aug 2026Final judgment entered: permanent injunction (Exchange Act s.10(b)/Rule 10b-5; Securities Act s.17(a)) and $6,000,000 civil penalty.
SEBI investigation of related-party transaction allegations (Hindenburg report, Jan 2023)
Closed
SEBI disposed of these proceedings against Gautam Adani and others on 18 Sep 2025 with no finding of violation.181920
Authority
Securities and Exchange Board of India (Whole Time Member Kamlesh C. Varshney)
Status as of
18 Sep 2025
History
Jan 2023Hindenburg Research published allegations about the Adani Group.
18 Sep 2025SEBI passed two orders finding the allegations (alleged routing of funds via Adicorp, Milestone Tradelinks and Rehvar) not established; proceedings disposed of without liability or penalty.