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Adani Group Firms Shed $12.5 Billion Market Cap After Sec Seeks ...
India’s Law Ministry rejected SEC summons service citing procedural flaws, prompting the SEC to seek alternative service methods after two refusals in 2025.
- On Friday, the U.S. Securities and Exchange Commission asked a New York federal court to permit serving summonses by email after India's Ministry of Law and Justice refused to effect service, saying the objection 'has no basis' in the Hague Convention.
- Citing missing seals and signatures, the Ministry of Law and Justice returned the U.S. Securities and Exchange Commission's documents last year, saying it could not verify their authenticity.
- The SEC's complaint alleges antifraud violations tied to Adani Green Energy Ltd's debt offering, and in February 2025 the U.S. Securities and Exchange Commission sought India’s Hague Convention assistance.
- On Friday, Adani Group companies fell between 3.3% and 14.6%, and Adani Green Energy Ltd said it is not a party to the proceedings.
- The dispute centers on procedural points under the Hague Convention as the Ministry of Law and Justice argued issuing a `summons` is not an enforcement tool, while the U.S. Securities and Exchange Commission cited the Practical Handbook and resubmitted documents after December denial.
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Indian ExpressReposted by 
PressNewsAgency
PressNewsAgencyAdani SEC case, Gautam Adani summons, Sagar Adani, US SEC India, Hague Convention, Law Ministry refusal, Adani Green Energy, securities law case.
·India
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·United Kingdom
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Times of IndiaReposted by 
The Economic Times
The Economic TimesAdani stocks suffer Rs 1.4 lakh crore shock, crash up to 15%. Here's what went wrong
Adani Group stocks tumbled up to 15% after the US SEC sought court permission to email summons to Gautam Adani and Sagar Adani regarding an alleged $265 million bribery scheme. India had previously rejected official requests for service, citing procedural grounds. The SEC is pursuing the case, which involves allegations of bribing Indian officials and misleading US investors.
·India
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Total News Sources24
Leaning Left2Leaning Right3Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 33%
C 17%
R 50%
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