breaking

Adani settles SEC case for $18 million as US legal clouds lift

Gautam Adani and his nephew Sagar have agreed to pay $18 million to settle Securities and Exchange Commission allegations that they misled investors, marking a major step toward resolving the Indian billionaire's legal challenges in the United States.

The settlement with the SEC comes as the Department of Justice moves to drop parallel fraud charges against the two men. The resolutions clear significant obstacles that have constrained the Adani Group's ability to access US capital markets and pursue expansion plans.

The conglomerate is now reviving efforts to raise approximately $1 billion through a dollar-denominated bond offering in the US, signaling confidence in renewed market access. Management intends to normalize operations and capital-raising activities following months of legal uncertainty.