MUMBAI — Shares of several companies within India’s Adani Group fell sharply during trading on Friday, with losses ranging from roughly 5 percent to 13 percent, after court documents revealed that U.S. securities regulators are seeking to summon the conglomerate’s founder, Gautam Adani, in connection with alleged bribery and fraud.
According to the filings, the U.S. Securities and Exchange Commission intends to issue subpoenas to Gautam Adani and his nephew, Sagar Adani, who serves as chief executive of Adani Green Energy. The move intensified investor concerns and triggered a broad sell-off across the group’s listed entities.
Adani Green Energy shares closed the session down nearly 14 percent, while flagship company Adani Enterprises ended the day with a loss of 10.7 percent. Shares of Adani Energy Solutions also declined, falling approximately 5.7 percent by the close of trading.
The developments follow a federal indictment filed in New York in November 2024, in which Gautam Adani and seven other individuals were charged in what prosecutors described as a large-scale bribery and fraud scheme. The case has placed renewed scrutiny on one of the world’s wealthiest businessmen and a group that plays a central role in India’s infrastructure and energy sectors.
Court documents indicate that U.S. regulators have formally approached a federal district judge in Brooklyn, seeking authorization to issue legal summonses as part of the ongoing investigation. The request underscores the expanding scope of U.S. legal action linked to the case.
The sharp market reaction reflects growing uncertainty among investors over potential legal and regulatory consequences for the Adani Group, as well as broader concerns about governance and compliance risks at one of India’s most influential corporate empires.
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