New Delhi, May 15 -- Legal experts say the proposed settlement between the US Securities and Exchange Commission (SEC) and the Adani Group could effectively bring an end to the civil proceedings in the United States while allowing the group to avoid any admission of wrongdoing.

The US Securities and Exchange Commission has settled a civil lawsuit against Adani Group Chairman Gautam Adani, subject to court approval, reported Reuters, citing court records. According to media reports, Court documents show that Gautam Adani agreed to pay civil penalties of USD 6 million, while his nephew Sagar Adani agreed to pay USD 12 million. The proposed settlement doesn't include an admission of guilt, said news reports.

The US SEC had earlier alleged ...