Indian billionaire Gautam Adani and his nephew Sagar Adani have agreed to pay $18 million to settle a U.S. Securities and Exchange Commission (SEC) lawsuit over allegations they misled investors in a $413 million bond offering, according to a court filing on May 14, 2026.
The SEC alleged that the Adanis and others made false statements about the use of proceeds from a 2021 bond sale by Adani Green Energy Ltd., a renewable energy company. The settlement, which requires court approval, does not admit or deny the allegations.
Under the terms, Gautam Adani will pay $12 million and Sagar Adani $6 million. The SEC also charged two other individuals and two companies, with separate settlements pending. The case is part of broader scrutiny of the Adani Group following a 2023 report by Hindenburg Research.
