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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
BJP to fight Assam polls on twin planks of development, secure state
Guwahati (PTI): In a bid to win the Assam Assembly elections for the third time in a row, Union Home Minister Amit Shah on Friday advised the state BJP brass to fight on twin planks: development and a secure state.
Shah, who wound up a two-day visit to Assam, held a nearly two-hour-long meeting with senior leaders of the BJP state unit at the party headquarters here, with a focus on discussing strategy for the state elections, expected in March-April.
Briefing reporters after the closed-door meeting, BJP Assam president Dilip Saikia said, "Development and a secure Assam will be our twin electoral planks."
He also said that Shah, known for his expertise in electoral politics, has offered valuable suggestions, and based on it, an action plan to retain power in the state will be formulated soon.
“Discussions were held in detail on our organisational and political calendars. Shah ji offered some very valuable suggestions, and we will implement those at the earliest…We will share more details on the action plan soon,” Saikia said.
He further said that the Union minister exhorted the state party leadership to ensure that not only do they secure a ‘massive landslide victory’ but also bag more seats than in the previous election.
The BJP currently leads a coalition government in Assam with the Asom Gana Parishad (AGP) and United People's Party Liberal (UPPL), while the Bodoland People's Front (BPF) has also extended support.
In the 126-member Assembly, the BJP now has 64 legislators, while its allies AGP, UPPL and BPF have nine, seven and three memnbers, respectively. In the opposition camp, the Congress’ strength is 26, while AIUDF has 15 members and CPI(M) one. There is an Independent legislator also, belonging to Raijor Dal.
Saikia said that the party will continue to contest the state polls in coalition with its NDA allies, which was also favoured by Shah.
Dismissing reports of chinks in the ruling coalition, the Lok Sabha MP said, “As far as the NDA is concerned, we are united in Assam. There could be discussions about some issues on individual party forums.”
The saffron party has maintained that its alliance with the regional parties will continue, and formalities like seat-sharing arrangements are being worked out.
Shah, who was on his second visit to the state within a month, attended two other events in Dibrugarh and Dheamji earlier in the day. He left for West Bengal after the meeting at the Guwahati state party headquarters.
