Gautam Adani and his nephew Sagar Adani have formally agreed to receive legal notices from the U.S. Securities and Exchange Commission (SEC). This development resolves a long-standing procedural delay in the civil fraud case filed against them in November 2024. Lawyers representing the Adanis reached an agreement on January 30, 2026, stating they would accept the service of process through their legal counsel based in the United States.
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What is the new timeline for the case?
This agreement removes the need for the U.S. judge to rule on alternative methods of delivering summons, such as email. Once the judge signs this stipulation, the Adanis have been granted a 90-day window to file their formal response or a motion to dismiss the allegations. After they file their response, the SEC will have 60 days to oppose it, followed by another 45 days for the defendants to submit a final reply.
How did this impact the Adani Group stocks?
The market reacted sharply to earlier reports regarding this case. On January 23, 2026, Adani Group companies lost approximately $12.5 billion in market capitalization in a single day. Adani Enterprises fell about 11% and Adani Green Energy dropped over 14%. However, the stocks saw a recovery on January 27 after the group clarified that business operations were normal and the legal proceedings were against individual directors rather than the listed companies themselves.
