Adani hires senior Wall Street lawyer as SEC moves to revive fraud case
Mumbai: Chairperson of Adani Group, Gautam Adani has hired a senior Wall Street lawyer to represent him in a fraud case filed by the US Securities and Exchange Commission (SEC), reported The Print.
This comes as the American regulator moves to revive a lawsuit that has remained stalled for over a year.
According to the report, court filings show that Adani, who is also India’s second-richest person, has appointed Robert Giuffra Jr. to defend him in the SEC case. Giuffra is a co-chair at the white-shoe law firm Sullivan & Cromwell and is known for handling major financial litigation. He is also currently representing US President Donald Trump in his effort to overturn a criminal conviction.
The SEC filed the civil lawsuit in November 2024, accusing Gautam Adani and his nephew, Sagar Adani, of violating US securities laws.
The regulator has alleged that the two made false and misleading statements related to Adani Green Energy Ltd. Apart from the SEC’s civil case, federal prosecutors in Brooklyn, New York, have also filed criminal charges against the Adanis and others, accusing them of helping facilitate a $250 million bribery scheme in India to secure solar power contracts.
Both the SEC case and the criminal proceedings have not moved forward for more than a year, because both Gautam and Sagar Adani have remained in India. Last week, the SEC asked a US judge to allow it to use alternative methods to formally notify the Adanis about the lawsuit. The regulator sought permission to serve legal papers through email and through US law firms that are already representing the Adanis.
Following news of the SEC’s move, shares of Adani Group companies fell sharply, wiping out nearly $13 billion in combined market value on January 23. There has still been no progress in the criminal case.
The SEC has told the court that its efforts to serve the lawsuit in India were unsuccessful. Under US law, legal proceedings generally cannot move forward unless defendants are formally notified of the case against them.
In a court filing, the SEC said that Giuffra contacted the agency to inform it that he represents Gautam Adani and is willing to accept service of the lawsuit on behalf of the Adanis. Giuffra later requested additional time from the court to hold discussions with the SEC on how the case should proceed while both Adanis remain in India.
US District Judge Nicholas Garaufis, who is overseeing the case, is expected to rule on the SEC’s request on Friday. Giuffra and the SEC declined to comment on the matter.
The regulator has earlier stated that it did not receive assistance from the Indian government while attempting to deliver the summons.
Quoting a person familiar with the matter, The Print reported Gautam and Sagar Adani are now preparing to accept the SEC summons through US-based legal counsel. Their representatives have also been in contact with Indian government officials regarding the process. The person said the Indian government may ask for certain changes to how the summons is served, and requested anonymity as the discussions are ongoing.
India’s Ministry of Law and Justice and the Ministry of External Affairs did not respond to emails seeking comment after regular office hours. A spokesperson for the Adani Group also did not provide an immediate response. The SEC has not sued the Adani Group or any of its corporate entities. Gautam Adani is the chairman of the conglomerate, while Sagar Adani serves as executive director at Adani Green Energy.
Giuffra is a former law clerk to William Rehnquist during his tenure as Chief Justice of the US Supreme Court and joined Sullivan & Cromwell in 1989.
Over the past 25 years, he has represented several high-profile clients, including Volkswagen AG and Goldman Sachs Group Inc. Benchmark Litigation awarded him the title of “Securities Litigator of the Year” US in 2025 and has also included him on its shortlist for this year’s awards.
In addition to the Adani case, Giuffra began representing Donald Trump last year in his attempt to overturn a 2024 criminal conviction in which a Manhattan jury found Trump guilty of falsifying business records to conceal payments made to an adult film star. Giuffra is also representing Trump in his effort to have that state case transferred to federal court.
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What is Iran’s 10-point plan? Key demands ahead of US talks in Islamabad
Tehran/Islamabad: Iran has outlined a 10-point plan as the basis for upcoming talks with the United States, expected to begin in Islamabad on April 11, according to a statement from the Iranian Supreme National Security Council.
The plan lays out Tehran’s key political, military and economic demands, and is being seen as a framework for negotiations following the recent escalation in the region.
Strait of Hormuz at the centre
A major focus of the plan is the Strait of Hormuz, a critical global shipping route. Iran has proposed “controlled passage through the Strait of Hormuz in coordination with the Iranian armed forces,” which it says would give the country a unique economic and geopolitical position.
The plan also calls for the “establishment of a safe transit protocol” in the Strait that would guarantee Iran’s dominance under an agreed mechanism.
Call to end conflict
Iran has demanded “the necessity of ending the war against all elements of the axis of resistance,” signalling its expectation that hostilities should stop not only in Iran but also involving allied groups in the region.
US troop withdrawal
Another key demand is the “withdrawal of US combat forces from all bases and deployment points in the region,” indicating Tehran’s long-standing position against American military presence in West Asia.
Sanctions relief and compensation
The plan places strong emphasis on economic measures. It calls for “full payment of Iran’s damages according to estimates,” along with “the lifting of all primary and secondary sanctions and resolutions of the Board of Governors and the Security Council.”
It also seeks “the release of all Iranian assets and properties frozen abroad,” which have been a major point of contention for years.
Binding global guarantee
Finally, Iran has demanded that all these terms be formally recognised through “a binding Security Council resolution,” suggesting it wants international legal backing to ensure enforcement.
What this means
The 10-point plan reflects Iran’s broader push for security guarantees, economic relief and regional influence. The upcoming talks in Islamabad are expected to test how far both sides are willing to negotiate on these demands.
