US commission, Adanis jointly seek extension in securities case
The US Securities and Exchange Commission (SEC) and Indian businessmen Gautam Adani and Sagar Adani have jointly requested a US court for more time to file key submissions in a civil securities case, proposing a revised schedule for motions and responses.
In a filing before the US District Court for the Eastern District of New York, the parties said they had conferred in line with the court’s April 7 directive and agreed on a new timeline, which has been submitted for approval to Judge Nicholas G Garaufis.
The SEC had sued Adani Group founder Gautam Adani and his nephew Sagar in November 2024, alleging they had misled investors by failing to disclose an alleged bribery scheme tied to Indian state officials, framing the case under US securities laws.
Denying all allegations, the two, through their lawyers, on April 7, filed a pre-motion letter ahead of a planned April 30 motion, seeking dismissal of a fraud lawsuit.
