Adani Group Shares Slide As US SEC Pushes To Serve Summons

Adani Group stocks tumbled on Friday after reports revealed that the US SEC has asked a federal court for permission to serve summons directly to Gautam Adani, founder of the group, and his nephew Sagar Adani. The regulator’s move comes after India reportedly declined earlier requests to deliver the legal papers.  

The SEC’s filings link the group to alleged fraud and a $265 million bribery scheme, citing WhatsApp chats and production data as part of its evidence. Adani Group has strongly denied the allegations, calling them baseless, and stated it will pursue all possible legal remedies.  

The development triggered sharp declines across Adani companies, with Adani Enterprises falling over 9% and Adani Green Energy plunging nearly 12%. The broader Nifty 50 index also slipped 0.9%, reflecting investor concerns over regulatory scrutiny and potential reputational risks.  

Key Highlights  

• Adani Enterprises fell over 9%, Adani Green Energy dropped nearly 12%  
• SEC seeks court approval to serve summons via email to Gautam and Sagar Adani  
• India previously blocked attempts to serve papers through official channels  
• Allegations tied to fraud and $265 million bribery scheme  
• Adani Group denies charges, vows to defend itself legally  

Future Outlook  
The case marks one of the most high-profile legal challenges faced by an Indian conglomerate in the US. Market watchers expect continued volatility in Adani stocks as the investigation unfolds, with investor sentiment likely to remain cautious.  

Sources: Reuters, CNBC, News18, Times of India