Adani Group stocks today: Shares of several Adani Group companies including Adani Green, Adani Enterprises, Adani Energy and Adani Ports have dropped by up to 10% after the US Securities and Exchange Commission sought a US court’s approval to serve summons directly by email to Gautam Adani and Sagar Adani.An indictment made public in November 2024 claims that executives of the Adani Group were part of an alleged bribery scheme involving Indian officials to obtain power purchase agreements for electricity produced by Adani Green EnergyAccording to the filing quoted in a Reuters report, the SEC told the court that its earlier attempts to deliver the summons through official channels had failed after India declined two such requests. The matter represents the most prominent legal case involving an Indian conglomerate in the United States, with the regulator trying since last year to serve notices on Adani Group founder Gautam Adani and his nephew Sagar Adani.Following these developments, Adani Green shares dropped 10% to an intraday low of Rs 823, while shares of the group’s flagship company, Adani Enterprises, slid 8% to touch Rs 1,936. Adani Ports stock fell 5% to Rs 1,343, and Adani Energy declined 8% to Rs 852 per share.Reuters said the SEC informed the court that it does not expect service to be completed using existing procedures and has therefore requested permission to send the summons electronically to the two executives.The Adani Group has rejected the allegations as unfounded and said it will take all legal steps available to defend its position.The US Securities and Exchange Commission has also accused the executives of misleading American investors by issuing incorrect disclosures about the company’s anti-corruption policies.The SEC filing quoted by Reuters said India turned down requests to serve summons on procedural grounds, citing issues such as signature and seal requirements. The regulator maintained that these conditions do not apply under international frameworks governing cross-border service, including the Hague Convention. The document added that in its second rejection in December, India’s law ministry also appeared to raise questions over the SEC’s authority to seek such service.
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