Adanis, SEC Seek Case Extension

Gautam Adani and Sagar Adani are involved in a civil securities case with the United States — United States Securities and Exchange Commission, which sued them in November 2024. The United States — United States Securities and Exchange Commission alleges that Gautam Adani and Sagar Adani misled investors by failing to disclose an alleged bribery scheme tied to Indian state officials. Gautam Adani and Sagar Adani deny all allegations and are seeking dismissal of the fraud lawsuit, arguing that the case represents an impermissible extraterritorial application of US law and lacks personal jurisdiction. Both parties have jointly requested an extension from the United States — United States District Court for the Northern District of California to file key submissions, proposing a revised schedule for motions and responses, with a motion to dismiss due by June 8.