The U.S. Securities and Exchange Commission has asked a federal judge to approve an alternative method for serving legal summons to Gautam Adani. After failing to reach the Indian billionaire for over a year, the SEC aims to advance its fraud case against him and his conglomerate. This procedural move is a critical step to overcome a stalled investigation.

This case stems from earlier SEC allegations that Adani Group executives engaged in a multi-year scheme to conceal debt and manipulate share prices. The inability to serve Adani directly has created a major roadblock, delaying potential penalties and leaving investors in the dark about the case's progress and its implications for the group's global fundraising.

If the judge grants the request, the case could gain momentum, potentially leading to depositions and evidence gathering. For the Adani Group, a prolonged legal battle with a major U.S. regulator poses risks to its reputation and access to international capital markets. Investors will watch closely for any sign of settlement or escalation.