Here is the latest on alleged Adani bribery case. As per the latest stock exchange filing, Gautam Adani and Sagar Adani have filed a request for final judgment before the United States District Court for the Eastern District of New York. They have agreed to pay a combined civil penalty of $18 million to settle a US SEC civil complaint linked to alleged $250 million-plus bribery charges.

The proposed settlement does not include any admission of guilt.

According to the regulatory filling by the Adani Green Energy said, “Gautam Adani and Sagar Adani have consented to, inter alia, entry of the final judgement without admitting or denying the allegations made in the civil complaint and payment of a civil penalty of $6 million and $12 million, respectively, by Gautam Adani and Sagar Adani.”

What is the alleged Adani bribery case all about?

The US SEC had earlier charged Gautam Adani, Sagar Adani, and others with orchestrating an alleged $250 million-plus bribery scheme between 2020 and 2024 to secure solar energy contracts in India.

In response, an Adani Group spokesperson, on November 21, 2024,  denied the allegations, saying, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green Energy are baseless.”

Company says it is not part of proceedings

Adani Green Energy clarified that the company itself is not a party to the proceedings.

“As mentioned earlier, the Company is not a party to this proceeding, and no charges have been brought against it,” the filing stated.

The company also said it was providing the update in line with SEBI’s disclosure requirements related to litigation involving key management personnel or promoters.

Gautam Adani group stocks 

Adani Group stocks are upbeat in the early trade session today.

While Adani Green Energy is trading flat in the intraday session, shares of Adani Enterprises are up 1.32%. The share price of Adani Ports and Special Economic Zone has increased 1.91%.