The U.S. Securities and Exchange Commission (SEC) and Indian businessmen Gautam Adani and Sagar Adani have jointly approached a U.S. court seeking additional time to file key submissions in an ongoing civil securities case. The parties have also proposed a revised schedule for legal proceedings, subject to court approval.
Joint Request Filed Before US Court
According to court filings, both the SEC and the Adanis submitted a joint request before the U.S. District Court for the Eastern District of New York, seeking an extension of deadlines in the case. The move follows a directive issued by the court on April 7, asking both sides to confer and determine the next procedural steps.
The revised timeline has been placed before Judge Nicholas G. Garaufis for consideration.
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Revised Schedule for Key Legal Filings
Under the proposed schedule, the defendants’ motion to dismiss is due by June 8, 2026. The SEC would then file its amended complaint or opposition by August 7, followed by the defendants’ reply by September 21.
The parties have also suggested potential dates—May 20, May 22, or May 29—for a pre-motion conference, depending on the court’s availability.
Background of the SEC Case
The SEC filed the lawsuit in November 2024, alleging that Gautam Adani and Sagar Adani misled investors by failing to disclose an alleged bribery scheme linked to Indian officials, in violation of U.S. securities laws.
The Adanis have denied all allegations and are seeking dismissal of the case. In an earlier filing dated April 7, their legal team argued that the case represents an impermissible extraterritorial application of U.S. law and that the court lacks jurisdiction.
Legal Strategy and Jurisdiction Challenge
In their anticipated motion to dismiss, the defendants are expected to argue that the claims relate to conduct outside the United States and that the alleged statements were too general to be relied upon by investors. They have also contended that they were not involved in a $750 million bond offering in 2021 cited in the case.
This jurisdictional challenge is likely to form a central part of the legal proceedings moving forward.
Procedural Shift from Earlier Timeline
The request for extension marks a shift from an earlier briefing schedule approved in January, which had set April 30 as the deadline for filing the motion to dismiss, followed by June 29 for the SEC’s response and August 13 for the reply.
The revised schedule, if approved, would extend these deadlines, allowing both parties additional time to prepare their submissions.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
