Civil Securities case: U.S. SEC, Adanis jointly seek extension; propose revised schedule

The U.S. Securities and Exchange Commission (SEC) and Indian businessmen Gautam Adani and Sagar Adani have jointly requested a U.S. 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 U.S. 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 U.S. securities laws.