The US Securities and Exchange Commission has taken a significant step in its legal proceedings against prominent Indian business figures by requesting Federal court approval to serve summons directly to Gautam Adani and Sagar Adani via email. This development marks an escalation in the regulatory body's pursuit of the case involving alleged fraudulent activities.

Case Details and Allegations

According to Reuters reports citing court filings, the SEC's request centers around an alleged fraud case involving a substantial bribery scheme worth USD 265 million. The commission is seeking to personally serve summons to billionaire Gautam Adani and Adani Enterprises executive Sagar Adani through electronic communication channels.

Regulatory Approach and Legal Process

The SEC's decision to seek court approval for email service of summons suggests potential challenges in traditional service methods. This approach indicates the commission's commitment to pursuing the case despite jurisdictional complexities that may arise when serving legal documents to individuals based outside US territory.

The court filing represents a formal step in the legal process, requiring judicial approval before the SEC can proceed with direct electronic service of legal documents to the named individuals.

Implications for Legal Proceedings

The request for alternative service methods through email demonstrates the SEC's determination to advance the case. Federal court approval would enable the commission to formally notify the defendants of the legal proceedings and allegations against them, marking a crucial procedural milestone in the case development.

This development underscores the international reach of US securities regulations and the commission's willingness to pursue cases involving foreign nationals when alleged violations fall under US jurisdiction.

Adani enterprises has announced the acquisition of the remaining stake in IANS India Private Limited through its wholly owned subsidiary AMG Media Networks Limited. The Share Purchase Agreement was executed on January 21, 2026, marking the completion of the company's strategic acquisition of the media entity.

Transaction Details

AMG Media Networks Limited (AMNL) has entered into a Share Purchase Agreement to acquire the balance stake in IANS India Private Limited from Mr. Sandeep Bamzai, an existing shareholder. The acquisition encompasses the remaining equity holdings that will transform IANS into a wholly owned step-down subsidiary of Adani Enterprises.

Shareholding Structure

Prior to this transaction, AMNL held a majority stake in IANS across two categories of shares. The current shareholding structure demonstrates the company's existing control over the media entity.

Strategic Acquisition Background

This acquisition represents the completion of a strategic initiative that began in January 2024, when AMNL first acquired the majority stake in IANS India Private Limited. The company had previously disclosed this initial acquisition to the stock exchanges, establishing its foothold in the media sector through this subsidiary structure.

Regulatory Compliance

The transaction has been structured as a related party transaction, given that AMNL is a wholly owned subsidiary of Adani Enterprises and IANS is currently a subsidiary of AMNL. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Structure Impact

Upon completion of the proposed transaction, IANS India Private Limited will transition from being a subsidiary to becoming a wholly owned step-down subsidiary of Adani Enterprises. This structural change will provide the parent company with complete control over the media entity's operations and strategic direction. The transaction remains subject to customary closing conditions as outlined in the Share Purchase Agreement.