Fri Jan 23 17:00:00 UTC 2026: # Adani Group Shares Plunge as SEC Pursues Bribery and Fraud Charges Against Gautam and Sagar Adani

The Story: Shares of Adani Group companies experienced a significant drop on Friday, with declines ranging from 5 to 13%. This downturn followed the revelation that the U.S. Securities and Exchange Commission (SEC) is seeking court approval to issue summons to Adani Group Chairman Gautam Adani and Adani Green Energy Executive Director Sagar Adani regarding alleged bribery and fraud. The SEC is investigating the Adanis on charges related to misleading investors about the company’s compliance with anti-bribery practices.

The SEC alleges that Adani and others paid over $250 million in bribes to Indian government officials to secure solar energy supply contracts that generated over $2 billion in profits. The Indian Ministry of Law and Justice has reportedly refused to serve the summons twice, citing concerns about the SEC’s authority to invoke the Hague Convention.

Key Points:

  • Adani Group shares fell sharply on Friday after reports of SEC’s effort to summon Gautam Adani and Sagar Adani.
  • The SEC alleges bribery and fraud related to securing solar energy contracts in India.
  • The SEC claims over $250 million in bribes were paid to obtain contracts worth over $2 billion in profits.
  • The Indian Ministry of Law and Justice has twice refused to serve the summons on behalf of the SEC.
  • Shares of Adani Green Energy ended nearly 14% lower, while Adani Enterprises closed 10.7% lower and Adani Power dropped 5.7%.
  • An indictment of Gautam Adani and seven others in New York Federal Court occurred in November 2024.

Critical Analysis:
The US regulator is stepping up its effort to serve the summons on the Adanis as of January 23, 2026. This is likely related to the earlier indictment in November 2024. The negative market response of the Adani group firms losing $12.5 billion in market cap as of January 23, 2026 is a direct result of the SEC pursuing the serving of the summonses to Gautam Adani and Sagar Adani due to the alleged bribery and fraud charges, which created uncertainty, causing shareholders to sell their shares.

Key Takeaways:

  • The SEC’s pursuit of bribery and fraud charges against the Adani Group is having a direct and negative impact on the company’s stock value.
  • The Indian government’s reluctance to serve the summons raises questions about international legal cooperation.
  • The scale of the alleged bribery, involving hundreds of millions of dollars, underscores the severity of the charges.
  • The SEC’s ongoing investigation poses a significant threat to the Adani Group’s reputation and financial stability.

Impact Analysis:

The ongoing investigation and potential legal repercussions could significantly impact the Adani Group’s future operations and investor confidence. The findings of the SEC investigation have the potential to not only affect the Adani Group’s stock price and project financing, but also influence international investment flows into India. If the company is found guilty of the alleged bribery and fraud scheme, then this will further tarnish the group’s reputation.

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