The Indian stock market saw sharp volatility this week as Adani Group shares came under heavy selling pressure following a fresh legal development in the United States involving the Securities and Exchange Commission, which has sought permission from a New York federal court to serve legal summons to Gautam Adani and his nephew Sagar Adani through email after claiming that earlier attempts via India’s Ministry of Law were declined on procedural grounds, prompting US regulators to argue that diplomatic channels are unnecessary since the Adani leadership is already aware of the case through public statements and legal representation, a move that rattled investor sentiment on January 23 and 24 and led to a steep erosion in market value with Adani Green Energy plunging nearly 13–15 percent, Adani Enterprises falling over 10 percent and Adani Ports declining around 7–8 percent, as the legal dispute traces back to November 2024 when US authorities accused executives linked to the group of orchestrating a bribery scheme to secure solar power contracts for Adani Green Energy while allegedly misleading US investors about the company’s anti-corruption practices during fundraising, allegations that the Adani Group has strongly denied while maintaining that the charges are baseless and clarifying through Adani Enterprises that the company itself is not a named party in the proceedings which are directed at individuals, as markets now closely track the New York court’s decision on whether the SEC will be allowed to proceed with email-based service, a ruling that could accelerate the case and keep Adani stocks volatile in the near term amid heightened investor caution.