On April 8, 2026, Adani Green Energy Limited issued a clarification regarding media reports about legal proceedings initiated by the United States Securities and Exchange Commission (SEC) against its directors, Gautam Adani and Sagar Adani.
The company emphasised its non-involvement in these proceedings and confirmed that no charges have been brought against it.
The SEC has filed a civil complaint in the United States District Court for the Eastern District of New York against Gautam Adani and Sagar Adani.
The directors intend to move for dismissal of the complaint by April 30, 2026.
They have submitted a pre-motion conference letter to the court, outlining their grounds for dismissal, including lack of personal jurisdiction and the SEC's failure to state a claim.
The defendants argue that the claims are impermissibly extraterritorial, the alleged misstatements are not actionable, and their lack of involvement in the offering bars the SEC's claims.
Adani Green Energy Limited has reiterated that it is not a party to the SEC's proceedings. The company has also clarified that the defendants have not been charged with violations of the United States Foreign Corrupt Practices Act, indicating no charges of bribery or corruption against them.
The pre-motion conference letter submitted by the defendants was in accordance with the procedural rules prescribed by the EDNY judge. This step is part of the legal process to potentially dismiss the SEC's complaint.
As of April 08, 2026, at 2:46 PM, Adani Green Energy share price on NSE was trading at ₹1,032.85 up by 11.62% from the previous closing price.
Adani Green Energy Limited has clarified its non-involvement in the SEC's legal proceedings against its directors, Gautam and Sagar Adani. The company emphasised that no charges have been brought against it, and the defendants are actively seeking dismissal of the complaint.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Apr 8, 2026, 3:07 PM IST
Team Angel One
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