Gautam Adani Agrees To Pay USD 6 Million To Settle US SEC Fraud Case, Rahul Gandhi Targets PM Narendra Modi Over ‘Adani Release Deal’
Gautam Adani and his nephew Sagar Adani have agreed to pay a combined USD 18 million to settle US SEC allegations related to misleading representations tied to Adani Green Energy. The development comes as the US Justice Department reportedly moves to drop parallel fraud charges. Rahul Gandhi reacted on X, alleging the Prime Minister had negotiated 'Adani’s release' instead of a trade deal.
Gautam Adani is close to resolving a major legal challenge in the United States after agreeing to settle allegations brought by the US Securities and Exchange Commission (SEC) related to disclosures concerning Adani Green Energy. The proposed agreement, filed in federal court on Thursday, May 14, could ease pressure on the Adani Group as it looks to resume international fundraising and expansion plans.
According to court filings, Gautam Adani agreed to pay USD 6 million to settle SEC allegations that he violated US securities rules by making false and misleading representations about Adani Green Energy Ltd. His nephew, Sagar Adani, separately agreed to pay USD 12 million as part of the proposed settlement. US To Drop Criminal Case Against Gautam Adani: Justice Department Set To Withdraw USD 265 Million Bribery and Fraud Charges, Says Report.
'Adani Release Deal': Rahul Gandhi
Compromised PM ने trade deal नहीं, अडानी की रिहाई का सौदा किया।
— Rahul Gandhi (@RahulGandhi) May 15, 2026
Rahul Gandhi Targets PM Modi
Leader of Opposition in Lok Sabha and Congress leader Rahul Gandhi reacted to the development on X, targeting the central government over the reported settlement. “The compromised PM did not strike a trade deal, but a bargain for Adani's release,” Gandhi posted on the social media platform.
Adani-SEC Case Linked to Bond Offering
The SEC had sued Gautam Adani in November 2024, alleging he led efforts to pay or promise hundreds of millions of dollars in bribes to Indian officials in connection with contracts linked to a large solar power project in India.
The regulator also alleged that Gautam Adani and Sagar Adani falsely represented the company’s compliance with anti-bribery standards and laws during a USD 750 million bond offering. Neither the Adani Group nor its corporate entities were named as defendants in the SEC action. The company had denied the allegations when the case was first filed. Gautam Adani Moves To Dismiss US SEC Lawsuit, Cites Lack of Jurisdiction.
Justice Department Reportedly Moving to Drop Parallel Charges
The proposed SEC settlement comes alongside reports that the US Department of Justice is moving to drop fraud charges against Gautam Adani in a parallel criminal case, according to Bloomberg News.
If both matters are resolved, analysts say the development could help the conglomerate regain easier access to international capital markets after months of legal uncertainty. The Adani Group has interests spanning infrastructure, ports, airports, mining and renewable energy projects across India and overseas.
Market observers said a resolution of the SEC matter could remove a major overhang for the Adani Group, which has continued pursuing investments despite legal and regulatory scrutiny abroad. The proposed settlement still requires final approval from the court before taking effect.
(The above story first appeared on LatestLY on May 15, 2026 09:29 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
