The US Securities and Exchange Commission (SEC) and Indian business figures Gautam Adani and Sagar Adani have jointly asked a US court for an extension to file critical submissions in an ongoing civil securities case, presenting a revised timeline for motions and responses.
In a recent filing with the US District Court for the Eastern District of New York, the parties indicated they had complied with the court’s directive from April 7 and agreed on a new timeline, which is pending approval from Judge Nicholas G. Garaufis.
The SEC initiated legal action against Gautam Adani, the founder of Adani Group, and his nephew Sagar in November 2024. The lawsuit accuses them of misleading investors by failing to disclose an alleged bribery scheme involving Indian state officials, in violation of US securities laws.
The defendants, denying all allegations, submitted a pre-motion letter on April 7 through their attorneys, outlining their intention to file a motion to dismiss by April 30. They argue that the case represents an inappropriate extraterritorial application of US law and lacks personal jurisdiction.
According to the proposed schedule, the defendants’ motion to dismiss is set to be submitted by June 8, with the SEC’s amended complaint or opposition expected by August 7, and the defendants’ reply due by September 21. The parties have also suggested potential dates for a pre-motion conference: May 20, May 22, or May 29, depending on the court’s availability.
This request follows the filing of a pre-motion letter by the defendants on April 7, after which the court directed both parties to discuss their next steps. The Adanis are expected to contend in their upcoming motion to dismiss that the court does not hold jurisdiction since the claims pertain to actions outside the United States, the statements are too vague to be considered by investors, and they were not involved in a USD 750 million bond offering that occurred in 2021.
In November 2024, the SEC filed the lawsuit alleging violations of US securities laws. An earlier briefing schedule established in January set April 30 as the deadline for the motion to dismiss, June 29 for the SEC’s response, and August 13 for the defendants’ reply.
Gautam Adani is represented by Sullivan & Cromwell LLP, while Sagar Adani’s representation includes Nixon Peabody LLP and Hecker Fink LLP. The SEC’s legal affairs are managed by its New York regional office.
Published on April 18, 2026.
