Legal Status Profiles

Records

Gautam Adani

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.

SettledLatest source dated 2026-09-28Last reviewed 2026-10-26

What is Gautam Adani’s legal position?

U.S. federal criminal indictment (Adani Green / solar contracts), E.D.N.Y.

Closed

Current position. 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.[1, 2, 3, 4, 5, 6, 7, 8]

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 date
2026-08-10

History

  1. 2024-11-20 Five-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.
  2. 2024-11-21 Adani Group spokesperson called the allegations against Adani Green directors baseless and denied them.
  3. 2026-05-18 DOJ moved to dismiss the indictment with prejudice against the individual defendants, citing prosecutorial discretion.
  4. 2026-06-26 Judge Garaufis declined to approve dismissal immediately under Rule 48(a) and ordered DOJ to state each reason, with factual support, by 13 Jul 2026.
  5. 2026-07-15 Adani 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.
  6. 2026-08-10 Court 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.
  7. 2026-09-03 Court 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

Current position. Resolved by consent final judgment entered 10 Aug 2026, with no admission of the allegations (except as to jurisdiction).[9, 10, 11, 12, 13, 14, 5]

Authority
U.S. Securities and Exchange Commission; U.S. District Court E.D.N.Y.
Status date
2026-08-10

History

  1. 2024-11-20 SEC filed complaint (24-cv-08080) alleging antifraud violations relating to Adani Green's $750 million September 2021 note offering.
  2. 2025-08 SEC told the court Indian authorities had not yet served the summons on Gautam and Sagar Adani.
  3. 2026-01-30 SEC filed notice that Gautam and Sagar Adani agreed to accept service, subject to court approval.
  4. 2026-04-07 Court granted the Adanis' request for a pre-motion conference on a proposed motion to dismiss (personal jurisdiction, extraterritoriality); no ruling on the merits.
  5. 2026-05-14 Proposed consent settlement disclosed: Gautam Adani to pay a $6 million civil penalty and Sagar Adani $12 million, subject to court approval.
  6. 2026-08-10 Final 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

Current position. SEBI disposed of these proceedings against Gautam Adani and others on 18 Sep 2025 with no finding of violation.[15, 16, 17]

Authority
Securities and Exchange Board of India (Whole Time Member Kamlesh C. Varshney)
Status date
2025-09-18

History

  1. 2023-01 Hindenburg Research published allegations about the Adani Group.
  2. 2025-09-18 SEBI 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.

SEBI proceedings on alleged minimum public shareholding (MPS) violations by four Adani Group companies

Settled

Current position. Settled by Gautam Adani on 28 Sep 2026 without admission; the settlement amount was not divided between applicants in the order.[18, 19, 20]

Authority
Securities and Exchange Board of India (Whole Time Member Kamlesh Chandra Varshney)
Status date
2026-09-28

History

  1. 2020-10-23 SEBI opened an investigation after complaints in 2020.
  2. 2024-09-27 Show-cause notice issued (supplementary notice 3 Mar 2025) alleging MPS non-compliance from June 2013 to June 2018.
  3. 2026-09-28 Gautam 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.

Sources

  1. Billionaire Chairman of Conglomerate and Seven Other Senior Business Executives IndictedU.S. Attorney's Office, E.D.N.Y., 2024-11-20, primary source
  2. Media StatementAdani Group, 2024-11-21, primary source
  3. US judge declines to immediately dismiss Adani indictment, orders DOJ to explain decisionThe Wire, 2026, secondary source
  4. 'Not aware of anything promised or offered': Gautam Adani denies any deal behind US move to drop criminal caseBusiness Today (PTI), 2026-07-15, secondary source
  5. US court permanently dismisses criminal case against Adanis; 'Truth has prevailed', says Gautam AdaniTelangana Today (PTI), 2026-08-11, secondary source
  6. US court permanently dismisses criminal case against Gautam Adani (PTI)ThePrint, 2026-08-11, secondary source
  7. US judge dismisses case against India billionaire AdaniAustralian Associated Press (via Michael West Media), 2026-08-10, secondary source
  8. US judge denies DOJ bid to drop bribery charges against Gautam Adani's co-defendantsThe Wire, 2026-09-05, secondary source
  9. SEC Press Release 2024-181 (charges against Gautam Adani, Sagar Adani and Cyril Cabanes)U.S. Securities and Exchange Commission, 2024-11-20, primary source
  10. Gautam Adani agrees to receive legal notice from US market regulator in fraud caseScroll.in (PTI/Reuters), 2026-02-01, secondary source
  11. US court accepts Adanis' plea to dismiss SEC fraud caseBusiness Today, 2026-04-08, secondary source
  12. US Securities Regulator Moves to Settle Adani Civil CaseOCCRP, 2026-05-15, secondary source
  13. Why Gautam Adani, nephew Sagar agreed to pay $18 million in US SEC settlement over fraud caseThe Week, 2026-05-15, secondary source
  14. Final Judgment as to Gautam Adani, SEC v. Gautam Adani and Sagar Adani, 1:24-cv-08080U.S. Securities and Exchange Commission / U.S. District Court E.D.N.Y., 2026-08-10, primary source
  15. SEBI clears Adani of Hindenburg allegations; he says those behind 'fraudulent' report owe an apologyETV Bharat (PTI), 2025-09-18, secondary source
  16. SEBI dismisses Hindenburg Research's allegations against Gautam Adani, Adani Group firmsThe Week, 2025-09-18, secondary source
  17. Sebi gives Adani group clean chit, dismisses Hindenburg allegationsBusiness Standard, 2025-09-18, secondary source
  18. Final order in the matter of Adani Enterprises Ltd, Adani Transmission Ltd, Adani Ports and SEZ Ltd and Adani Power Ltd (alleged MPS violation), WTM/KV/IVD-3/ID2/32734/2026-27, and corrigendum dated 29 Sep 2026Securities and Exchange Board of India, 2026-09-28, primary source
  19. Gautam Adani, 4 group companies settle shareholding norm violation case with Sebi for Rs 1.48 crThePrint (PTI), 2026-09-28, secondary source
  20. SEBI Clears Vinod Adani in MPS Case; Gautam Adani, 4 Group Companies Settle for Rs 1.48 CroreMoneylife, 2026-09, secondary source

Change history

  • 2026-10-26 Record published.

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