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

The U.S. Securities and Alternate Fee (SEC) and Indian businessmen Gautam Adani and Sagar Adani hold jointly requested a U.S. court for beyond regular time to file key submissions in a civil securities case, proposing a revised agenda for motions and responses.

In a filing earlier than the U.S. District Court for the Eastern District of Contemporary York, the events mentioned they’d conferred in accordance to 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 Team founder Gautam Adani and his nephew, Sagar, in November 2024, alleging they’d misled investors by failing to repeat an alleged bribery scheme tied to Indian utter officials, framing the case beneath U.S. securities laws.