Billionaire Gautam Adani and his nephew, Sagar Adani, have agreed to receive a legal notice from the US Securities and Exchange Commission in a civil fraud lawsuit alleging they misled investors about a bribery scheme, according to a court filing. The SEC thereafter can file their opposition within a further period of 60 days. AGEL went on to cite its previous statement that the Gautam Adani and Sagar Adani who are directors on its board, have not been "charged with violation/(s) of the United States Foreign Corrupt Practices Act i.e. Robert Giuffra Jr, co-chair of white-shoe law firm Sullivan & Cromwell, told a federal judge that he reached an agreement to accept the lawsuit on behalf of Gautam and Sagar Adani. "Except with respect to service, Defendants expressly preserve all defenses in this litigation, including but not limited to defences relating to personal jurisdiction."

Source: The Telegraph January 31, 2026 05:46 UTC