Gautam and Sagar Adani Seek More Time in SEC Securities Case

The US SEC and Indian businessmen Gautam and Sagar Adani have requested extended deadlines for key submissions in a securities case. They're seeking dismissal, arguing lack of jurisdiction and denying bribery allegations. The proposed new motion timeline awaits court approval.

In a joint request, the U.S. Securities and Exchange Commission and Indian businessmen Gautam and Sagar Adani have asked a U.S. court to extend deadlines for key submissions in a civil securities case.

This move comes after accusations that the Adani Group misled investors by hiding a bribery scheme involving Indian state officials. In response, the Adanis argue the case is outside U.S. jurisdiction and have filed for dismissal.

The revised schedule for motions and responses has been submitted for approval, with new submission deadlines and potential pre-motion conference dates outlined. The SEC's lawsuit accuses the Adanis of violating U.S. securities laws, a charge they deny.

(With inputs from agencies.)