The group stocks rallied nearly 10 per cent, with Adani Enterprises surging over 9 per cent, hitting an intraday high of Rs 2,099, Adani Green Energy advanced more than 8 per cent to Rs 1,003, while Adani Ports rose over 7 per cent to trade at Rs 1,473.
US Court Accepts Adani Plea to Dismiss Securities and Exchange Commission Case.Adani’s counsel plea seeks pre-motion conference to dismiss SEC case.Earlier in January, the US Securities and Exchange Commission has moved to formally serve Gautam Adani and Sagar Adani with a civil fraud lawsuit. Sagar Adani is Gautam Adani’s nephew and serves as the Executive Director of Adani Green Energy Ltd (AGEL).
US prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants.
The Ahmedabad-headquartered multinational conglomerate had, however, strongly denied the charges and described the allegations of a USD 250 million bribery scheme as “baseless”. The group had then said it remains committed to defending itself and will pursue all available legal options. It had said: The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws
