India, Jan. 24 -- Shares of Adani Group companies came under heavy selling pressure on Friday, shedding about $12.5 billion in market capitalisation, after a US markets regulator moved a court seeking permission to serve legal summons via email to founder Gautam Adani and group executive Sagar Adani in an alleged fraud and bribery case.

According to a Reuters report, the US Securities and Exchange Commission (SEC) filed a procedural request before a federal court in Brooklyn, New York, asking for alternative methods to serve summonses after India's government declined two earlier requests to facilitate formal service.

The SEC said it had approached US District Judge Nicholas Garaufis seeking approval to serve the summonses through the A...