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Reuters
Tue, April 7, 2026 astatine 11:33 AM CDT 1 min read
NEW YORK, April 7 (Reuters) - Gautam Adani, India's 2nd richest person, volition inquire a U.S. justice to disregard the Securities and Exchange Commission's civilian fraud lawsuit against him, his lawyers said connected Tuesday.
Adani and his nephew Sagar Adani were charged by the SEC successful November 2024 with orchestrating a strategy to wage oregon committedness to wage hundreds of millions of dollars successful bribes to Indian authorities officials to payment Adani Green Energy, wherever some men are executives and directors.
The securities fraud lawsuit is tied to Adani Green's alleged nonaccomplishment to disclose the strategy in documents for a $750 cardinal enslaved offering successful 2021.
In a filing successful the Brooklyn, New York national court, Adani's lawyers said the SEC claims were "impermissibly extraterritorial," fixed that the defendants and all alleged misconduct were successful India, and the bonds were never traded on a U.S. exchange.
The lawyers besides said the Adanis' deficiency of involvement successful the offering and the lack of credible grounds supporting the bribery strategy supported a dismissal.
The SEC did not instantly respond to a petition for comment.
(Reporting by Jonathan Stempel successful New YorkEditing by Tomasz Janowski)
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