The United States Securities and Exchange Commission (SEC) has informed a New York federal court that it has not yet been able to serve summons and complaints to Gautam Adani and Sagar Adani in connection with allegations of misleading investors about a major debt transaction.
In a filing submitted to the US District Court of New York, the SEC confirmed that the process of serving legal notices is still underway. The case dates back to November 2024, when the regulator accused the Adani executives of violating US federal securities laws by making “false and misleading” statements related to a $175 million debt fundraise by Adani Green Energy in September 2021.
According to the SEC’s update, both Gautam Adani and Sagar Adani are currently in India. The agency said it had formally requested assistance from India’s Ministry of Law and Justice to deliver the summons under the Hague Convention, which governs cross-border service of legal documents.
In March, the Indian Law Ministry forwarded the SEC’s summons to a Sessions Court in Gujarat for further action. However, the SEC’s filing makes clear that Indian courts have not yet served the documents.
The regulator noted that it is continuing to coordinate with Indian authorities to complete the process. The SEC is scheduled to submit its next status update to the US court by August 11.
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