Adani Group Stocks Rally Up to 3.5% as Gautam Adani Settles SEC Fraud Case for $18 Million and US DOJ Moves to Drop Criminal Charges

Adani Group stocks surged between 0.5 and 3.5 percent on 15 May 2026 after two major developments emerged simultaneously: Gautam Adani and his nephew Sagar Adani agreed to pay a combined $18 million to settle the US Securities and Exchange Commission’s civil fraud case, and Bloomberg reported that the US Department of Justice is moving to effectively drop the criminal charges against Gautam Adani filed in November 2024. Adani Enterprises, the group’s flagship, rose as much as 3.2 percent in pre-open trade before settling at 1.6 percent higher at Rs 2,756. Adani Green Energy, Adani Power, Adani Ports and other group companies also advanced.

This is the most significant legal development for the Adani Group since the US DOJ and SEC filed their criminal indictment and civil complaint in November 2024, alleging that Gautam Adani and others were involved in a USD 250 million bribery scheme to secure solar power contracts in India. The Adani Group has consistently denied all allegations as baseless.

The SEC Settlement: Gautam Adani Pays $6 Million, Sagar Adani Pays $12 Million

Adani Green Energy confirmed in an exchange filing to BSE and NSE that Gautam Adani and Sagar Adani have filed a request for entry of final judgment with the US Eastern District Court of New York on 15 May 2026 (India time) / 14 May 2026 (New York time). Under the proposed settlement:

• Gautam Adani penalty: USD 6 million civil penalty to the US Securities and Exchange Commission
• Sagar Adani penalty: USD 12 million civil penalty to the US Securities and Exchange Commission
• Total SEC settlement: USD 18 million (approximately Rs 172 crore at Rs 95.80 per dollar)
• Admission status: Both parties have consented to final judgment WITHOUT admitting or denying the allegations
• Adani Green status: Confirmed it is not part of these proceedings and no charges have been brought against it
• Judicial approval: Settlement is subject to approval by the US Eastern District Court of New York

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The DOJ Criminal Charges: US Department of Justice Moving to Drop the Indictment

Separately from the SEC civil settlement, Bloomberg reported on 14 May 2026 that the US Department of Justice is moving to resolve the criminal fraud charges and could announce as early as this week that it is withdrawing the criminal indictment. The DOJ had charged Gautam Adani and seven others in November 2024 in a five-count criminal indictment alleging that the defendants paid more than USD 250 million in bribes to Indian government officials to secure solar energy supply contracts. All of the alleged conduct occurred in India, though the charges were filed in Brooklyn’s Eastern District Court because the fundraising efforts linked to the alleged scheme occurred in the US.

None of the defendants, including Gautam Adani and Sagar Adani, had appeared before the court since the indictment was filed, which had effectively stalled the criminal prosecution. The DOJ can move to drop charges even with defendants outside the US, Bloomberg’s sources noted.

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Why the DOJ May Be Dropping Charges: Trump’s Lawyer Connection and $10 Billion Investment Offer

The resolution of the criminal case has a political and diplomatic dimension. Gautam Adani hired Robert J. Giuffra Jr., co-chair of the law firm Sullivan and Cromwell and one of US President Donald Trump’s personal lawyers, to lead his legal team. In April 2026, Giuffra met with the DOJ at its Washington headquarters and argued that prosecutors lacked basic evidence against his client.

The New York Times additionally reported that Adani’s counsel had offered to invest USD 10 billion in the US economy and create 15,000 jobs as part of discussions with the DOJ. This combination of high-profile legal representation, the geopolitical relationship between the Trump administration and India and the investment pledge appears to have accelerated the DOJ’s decision to move toward resolving the case.

The OFAC Probe: $275 Million Settlement Reportedly Nearing

A third legal development also reported by Bloomberg involves the Office of Foreign Assets Control (OFAC), the US Treasury Department’s sanctions enforcement arm. Adani Group is reportedly nearing an agreement to pay approximately USD 275 million to settle a separate OFAC probe related to the conglomerate’s business activities. This settlement, if confirmed, would represent the largest financial penalty in the Adani Group’s legal resolution process.

The OFAC investigation is distinct from both the DOJ criminal charges and the SEC civil fraud case. A USD 275 million OFAC payment would be approximately Rs 2,635 crore at current exchange rates, a meaningful but manageable figure for a conglomerate with Rs 3 lakh crore-plus in consolidated assets.

Adani Group Stocks Performance on 15 May 2026

The Adani Group stocks reacted sharply in pre-market and early trade on 15 May 2026 as the Bloomberg and CNBC reports of the SEC settlement and DOJ charge-dropping circulated. Here is how individual Adani Group stocks moved:

• Adani Enterprises (NSE: ADANIENT): Up 1.6% at Rs 2,756 in early trade (pre-open peak of +3.2%). Flagship Adani Group company with diversified businesses including mining, airports, data centres and food FMCG.
• Adani Green Energy (NSE: ADANIGREEN): Up on the session. Directly named in the SEC civil complaint but confirmed not a party to the proceedings. Shares hit 52-week high earlier this week.
• Adani Power (NSE: ADANIPOWER): Surged on the session. India’s largest private thermal power producer is one of the key Adani Group stocks in focus given its scale and strategic importance.
• Adani Ports and SEZ (NSE: ADANIPORTS): Advanced on the session. India’s largest private port operator with 13 ports and terminals including Mundra, India’s largest commercial port.
• Overall Adani Group stocks range: 0.5% to 3.5% gains across the group companies on 15 May 2026.

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Background: What the November 2024 Indictment Alleged

To understand the significance of the settlement, it helps to revisit what the charges alleged. The US DOJ’s November 2024 indictment in Brooklyn’s Eastern District Court alleged a five-count criminal scheme in which Gautam Adani and seven other defendants paid or promised more than USD 250 million in bribes to Indian state government officials. The purpose, according to the indictment, was to secure contracts for Adani Green Energy to supply solar power to Indian state electricity distribution companies (DISCOMs).

The SEC’s parallel civil complaint alleged that Gautam Adani spearheaded efforts to pay or promise hundreds of millions of dollars in bribes and concealed this scheme while raising billions from US investors. The civil complaint did not quantify a specific penalty amount. The Adani Group called all allegations baseless and said it would seek all possible legal recourse to defend itself.

What the Resolution Means for the Adani Group

International Capital Markets Reopen

The criminal indictment had effectively locked the Adani Group out of US-denominated and many international bond markets since November 2024. With the DOJ moving to drop charges and the SEC civil case settling, the group’s ability to tap dollar bond markets, raise green bonds and attract foreign institutional investment is significantly enhanced. This is arguably the most consequential business implication of the resolution for Adani Group stocks medium-term.

Expansion Plans Can Be Revived

The Adani Group has ambitions spanning airports, data centres, green hydrogen, copper smelting and international port expansion. Several of these projects had been slowed by the legal uncertainty and the associated difficulty in raising international financing. A clean legal slate, combined with the USD 10 billion US investment pledge, puts the group in a position to resume its aggressive expansion trajectory that had paused after November 2024.

The $18 Million Settlement Is Modest Relative to Group Scale

For a conglomerate with over Rs 3 lakh crore in consolidated assets and revenues across 11 listed entities, a USD 18 million SEC settlement (approximately Rs 172 crore) is financially negligible. The OFAC settlement of approximately USD 275 million is larger but still manageable given the group’s asset base. The greater relief is not financial but reputational and operational: the group can now access global markets without the cloud of pending US criminal charges.

Risks That Remain for Adani Group Stocks

• SEC Judicial Approval Pending: The $18 million SEC settlement still requires approval from the US Eastern District Court judge. Until approved, the settlement is not final.
• DOJ Not Yet Officially Withdrawn: The Bloomberg report on DOJ charge-dropping is based on sources and has not yet been officially confirmed by the US Department of Justice. Until an official announcement is made, the criminal indictment technically remains.
• OFAC Settlement Not Confirmed: The $275 million OFAC settlement is described as nearing agreement but not yet finalised or publicly confirmed.
• Hindenburg Report: The separate short-seller Hindenburg Research report from 2023 alleging accounting fraud and stock manipulation remains unresolved as a market perception issue, though it is a distinct matter from the US DOJ/SEC case.
• Broader Market Weakness: The broader Nifty is under pressure from crude above $107 and VIX at 19.43. Even positive Adani-specific news may not fully override index-level headwinds on 15 May 2026.

Conclusion

Adani Group stocks are rallying 0.5 to 3.5 percent on 15 May 2026 as Gautam Adani’s $6 million and Sagar Adani’s $12 million SEC settlement, combined with reports that the US DOJ is moving to drop the criminal charges from the November 2024 indictment, remove the biggest legal overhang that has hung over the group for 18 months. The settlement is subject to judicial approval and the DOJ withdrawal is not yet officially confirmed. The financial cost to the Adani Group is modest at USD 18 million for the SEC case plus approximately USD 275 million for OFAC. The strategic benefit, primarily access to international capital markets and the ability to revive aggressive expansion, is far larger. Consult a SEBI-registered advisor before making any investment decisions in Adani Group stocks.

FAQs on Adani Group Stocks Rally on 15 May 2026

Why are Adani Group stocks rising today?

Ans. Adani Group stocks are rising because Gautam Adani and Sagar Adani agreed to pay $18 million total to settle the US SEC civil fraud case (filed November 2024), and separately, Bloomberg reported that the US DOJ is moving to drop the criminal charges from the same period. Together these developments remove the biggest legal uncertainty that had weighed on Adani Group stocks since November 2024.

How much is the Adani SEC settlement?

Ans. Under the proposed SEC settlement filed on 15 May 2026 (India time), Gautam Adani has agreed to pay a $6 million civil penalty and Sagar Adani has agreed to pay $12 million, totalling $18 million or approximately Rs 172 crore. Both parties have consented to the final judgment without admitting or denying the SEC’s allegations. The settlement requires court approval.

What was the original Adani fraud case about?

Ans. The US DOJ’s November 2024 criminal indictment alleged a five-count scheme in which Gautam Adani and seven others paid or promised over $250 million in bribes to Indian state government officials to secure solar power supply contracts for Adani Green Energy. The SEC’s parallel civil complaint alleged the scheme was concealed while raising billions from US investors. The Adani Group denied all allegations as baseless.

Will Adani Group stocks continue to rally after the settlement?

Ans. The removal of US legal uncertainty is structurally positive for Adani Group stocks as it reopens international capital markets and allows expansion plans to resume. However, the broader market context on 15 May 2026 includes Nifty under pressure from crude above $107 and India VIX at 19.43. Consult a SEBI-registered advisor before investing in Adani Group stocks based on this development.

Is Adani Green Energy a party to the SEC settlement?

Ans. No. Adani Green Energy confirmed in an exchange filing to BSE and NSE that it is not part of the SEC proceedings and that no charges have been brought against the company. The settlement involves only Gautam Adani and Sagar Adani in their personal capacities.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.