Adani Group chairman Gautam Adani has engaged a leading Wall Street lawyer to represent him in a civil lawsuit filed by the US Securities and Exchange Commission (SEC), a move widely seen as a signal that the long-stalled case could now advance.
Court filings show that Adani has hired Robert Giuffra Jr., a senior partner and co-chair at elite US law firm Sullivan & Cromwell, to defend him against allegations of securities fraud brought by the SEC. The development comes as the US regulator presses for permission to use alternative methods to formally notify Adani of the lawsuit, after efforts to serve summons through conventional channels failed.
The SEC’s civil complaint, filed in November 2024, accuses Gautam Adani and his nephew Sagar Adani of making false and misleading statements to US investors in connection with Adani Green Energy Ltd. The regulator alleges violations of US securities laws tied to disclosures made to international investors.
Case stalled over service of summons
Despite being filed more than a year ago, the SEC case has not moved forward, largely because both Gautam and Sagar Adani are based in India and had not been formally served with the complaint. Under US law, litigation cannot proceed until defendants are properly notified.
Last week, the SEC asked a federal court in New York for approval to use alternative service methods, including email and serving documents through US-based law firms representing the Adanis. The regulator told the court that repeated attempts to effect service in India had been unsuccessful.
Following the SEC’s latest move, shares of Adani Group companies came under pressure, with listed stocks collectively losing nearly $13 billion in market value on January 23, reflecting investor concern over the potential escalation of the legal proceedings.
Certified Cyber Crime Investigator Course Launched by Centre for Police Technology
High-stakes legal representation
Giuffra’s appointment is being closely watched in legal and financial circles. A veteran securities litigator, he has represented global corporations and financial institutions in some of the most complex cases in US courts. His involvement suggests that Adani is preparing for a more active legal engagement in the US proceedings.
According to the SEC’s court filing, Giuffra contacted the regulator to confirm that he represents Gautam Adani and indicated a willingness to accept service of the lawsuit on behalf of the Adanis. He also sought additional time from the court to discuss procedural issues, given that both defendants remain outside the United States.
A ruling on the SEC’s request to proceed with alternative service is expected shortly, a decision that could remove a key procedural hurdle and allow the case to move ahead.
Parallel criminal case remains frozen
In addition to the SEC’s civil action, US federal prosecutors in Brooklyn, New York, have previously charged Gautam and Sagar Adani, along with others, in a separate criminal case. That case alleges involvement in a $250 million bribery scheme linked to securing solar power contracts in India.
Like the SEC lawsuit, the criminal case has also remained effectively frozen for more than a year, with no major court developments reported so far.
Sources familiar with the matter indicate that the Adanis are preparing to accept the SEC summons through US-based legal counsel and that their representatives have been in communication with Indian government officials regarding the process. It is understood that Indian authorities may seek certain procedural modifications related to the service of summons, though no official position has been made public.
No direct action against Adani Group entities
Importantly, neither the Adani Group conglomerate nor its listed companies are named as defendants in the SEC’s lawsuit. The civil action targets Gautam Adani and Sagar Adani in their individual capacities, with the focus on alleged representations made to US investors.
A spokesperson for the Adani Group declined to comment on the latest developments. The SEC and Giuffra also did not offer immediate responses to queries.
What comes next
Legal experts say the court’s decision on alternative service could be a turning point. If approved, it would allow the SEC to formally bring the defendants under the jurisdiction of the court, enabling the case to move into substantive legal proceedings for the first time since it was filed.
For investors, the development adds another layer of uncertainty around the Adani Group, even as the conglomerate continues efforts to stabilise markets and strengthen governance following past scrutiny.
While the outcome of the US proceedings remains uncertain, the hiring of a top-tier Wall Street lawyer suggests that the battle is entering a more decisive phase.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
