Adani Group stocks sink sharply as U.S. SEC moves to question Gautam Adani over fraud case

What happened: Multiple Adani Group stocks plunged up to 14% after the U.S. Securities and Exchange Commission sought approval to summon Gautam Adani in an ongoing fraud and bribery case.

• Why it matters now: The request signals a significant escalation in U.S. scrutiny of one of India’s largest conglomerates.

• What changes for people: Investors face heightened volatility across Adani-linked companies, with market sentiment turning cautious.

• Who is affected: Adani Group shareholders, global institutional investors, regulators, and energy–infrastructure sectors.

Indian markets witnessed heavy turbulence on Friday as Adani Group stocks dropped sharply, triggered by news that the U.S. SEC is seeking legal permission to question Gautam Adani and two senior associates as part of a widening investigation into alleged international fraud networks.

Sharp sell-off across Adani companies

The biggest fall came from Adani Green Energy, which plunged nearly 14%, while Adani Enterprises, the conglomerate’s flagship, tumbled 10.7% during early trade. Other group entities also faced heavy selling pressure, wiping out billions in market capitalization in a matter of hours.

Analysts say the reaction reflects “elevated regulatory risk” for the group following the U.S. agency’s latest move.

SEC seeks to summon Adani in ongoing fraud case

According to filings cited in U.S. court documents, the SEC has asked a New York federal court for permission to issue summons to Gautam Adani and two others in connection with fraud and bribery allegations.

The development links back to a case from November 2024, when a New York grand jury indicted Adani and seven others for alleged involvement in a large-scale bribery and financial misconduct scheme tied to overseas operations.

While Adani Group has consistently denied wrongdoing, calling earlier allegations “baseless and politically motivated,” the SEC’s latest step marks a new layer of regulatory pressure.