Indian billionaire Gautam Adani and his nephew Sagar Adani have agreed to pay a combined $18 million to settle a civil fraud case filed against them in the United States.
The case was brought by the US Securities and Exchange Commission (SEC), which had accused the Adani family in 2024 of misleading American investors while raising funds for renewable energy projects.
According to US regulators, the allegations were linked to claims that bribes were paid to Indian officials to secure major green energy contracts and that investors were not fully informed about possible anti-bribery concerns.
However, the settlement does not mean the Adanis have accepted or admitted any wrongdoing.
Court Approval Still Pending
The agreement will now need approval from a US court before becoming official.
As news of the settlement emerged, shares of several Adani Group companies rose sharply in the stock market, signalling investor confidence after months of uncertainty surrounding the case.
The settlement also reportedly includes restrictions preventing the Adanis from violating US anti-fraud and securities laws in the future.
What The US Alleged
US authorities had earlier alleged that Adani Green Energy raised nearly $750 million from investors, including around $175 million from US-based investors, while allegedly hiding information related to anti-bribery compliance.
The Adani Group has repeatedly denied all allegations and described the accusations as “baseless”.
Reports Claim Criminal Charges May Also Be Dropped
Separate media reports in the US have claimed that the American Justice Department may also move towards dropping criminal fraud charges linked to the case.
According to reports, Gautam Adani recently hired a powerful new legal team led by Robert Giuffra Jr, a prominent American lawyer who has also represented US President Donald Trump in past legal matters.
Reports further claimed Adani’s legal team highlighted the group’s proposed $10 billion investment plans in the United States, which are expected to create thousands of jobs.
Adani Remains Among World’s Richest
Despite legal scrutiny and market volatility over the past few years, Gautam Adani continues to remain one of the world’s richest businessmen.
The Adani Group has major business interests across ports, airports, power, green energy, mining, infrastructure and logistics, making it one of India’s largest corporate conglomerates.
