Gautam Adani, chairman of the Adani Group, and his nephew Sagar Adani have consented to a final judgment in a civil complaint filed by the United States Securities and Exchange Commission (SEC) in November 2024. The agreement includes a combined civil penalty of $18 million, with Gautam Adani paying $6 million and Sagar Adani paying $12 million, without either admitting or denying the SEC's allegations.
US SEC Civil Complaint Update
Adani Green Energy Ltd. (AGEL), a listed Adani Group firm, informed stock exchanges on May 15, 2026, that the SEC, Gautam Adani, and Sagar Adani have filed a request for entry of final judgment, along with a proposed final judgment, in the civil complaint (number 24-CV-08080) before the US District Court for the Eastern District of New York. The final judgment from the court is currently awaited.
Crucially, Adani Green Energy emphasized that it is not a party to these proceedings, and no charges have been brought against the company itself. This clarification follows previous intimations and updates provided by AGEL regarding the matter since November 2024.
Background of the Allegations
The civil complaint originated in November 2024 when the US SEC filed charges against Gautam S. Adani and Sagar R. Adani. Concurrently, the US Department of Justice (DOJ) had issued a criminal indictment, which also named another director, Vneet Jaain, in addition to Gautam and Sagar Adani.
At the time the allegations surfaced, the Adani Group had vehemently denied them, describing them as “baseless” and stating its intention to pursue “all possible legal recourse” to defend itself against the claims.
Market Context for Adani Green
Despite the ongoing legal developments concerning its promoters, Adani Green Energy shares have shown resilience in the market. The stock has risen approximately 38 percent year-to-date in 2026 and recorded a 47 percent gain over the past year. Currently, AGEL shares are trading at levels similar to those observed in November 2024, when the initial civil complaint was filed.