Adani, SEC Seek More Time in US Securities Case

Motion to dismiss due by June as parties propose revised schedule for key submissions.

Apr. 18, 2026 at 8:09am

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A photorealistic studio still life featuring a stack of legal documents, a pen, and a calculator arranged on a clean, monochromatic background, symbolizing the abstract corporate strategy and legal issues at the heart of this securities case.A minimalist still life captures the high-stakes legal battle between Indian conglomerate Adani and US regulators over alleged securities fraud.NYC Today

The US Securities and Exchange Commission 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. The SEC had sued the Adanis in November 2024, alleging they had misled investors by failing to disclose an alleged bribery scheme tied to Indian state officials.

Why it matters

This case represents an ongoing legal battle between the SEC and the Adani Group, one of India's largest conglomerates, over alleged securities fraud. The outcome could have significant implications for the Adani Group's global operations and reputation, as well as set precedents around the SEC's jurisdiction over foreign companies and individuals.

The details

Under the proposed schedule, the defendant's (Adanis) motion to dismiss would be due by June 8, the SEC's amended complaint or opposition by August 7, and the defendants' reply by September 21. The parties also suggested May 20, May 22 or May 29 as potential dates for a pre-motion conference. In their anticipated motion to dismiss, the Adanis are expected to argue that the court lacks jurisdiction because the claims concern conduct outside the United States, that the alleged statements are too general to be relied upon by investors, and that they were not involved in a $750 million bond offering in 2021.

  • The SEC filed the lawsuit in November 2024.
  • The Adanis filed a pre-motion letter on April 7, 2026.
  • The court directed both sides to confer on next steps after the April 7 filing.

The players

Gautam Adani

The founder of the Adani Group, one of India's largest conglomerates, who has been sued by the SEC for alleged securities fraud.

Sagar Adani

The nephew of Gautam Adani, who has also been named in the SEC's lawsuit.

US Securities and Exchange Commission (SEC)

The US federal agency responsible for regulating the securities industry, including enforcing federal securities laws, proposing securities rules, and overseeing private regulatory organizations in the securities industry.

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What’s next

The judge in the case will decide on the proposed revised schedule for the motion to dismiss, amended complaint, and reply briefs.

The takeaway

This high-profile case highlights the ongoing tensions between US regulators and global conglomerates, as the SEC seeks to enforce securities laws across international borders. The outcome could set important precedents around the SEC's jurisdiction and the obligations of foreign companies and individuals to disclose information to US investors.