In a filing Friday in federal court in Brooklyn, New York, the SEC and U.S. attorneys for Adani and his nephew Sagar Adani said the lawyers agreed to accept the SEC’s legal documents, eliminating the need for U.S. District Judge Nicholas Garaufis to rule on how the defendants should be served.
If the judge approves the order, Adanis will have 90 days to respond to the SEC’s complaint, which could include dismissal requests.
Robert Giuffra, Gautam Adani’s lawyer, declined to comment. Sean Hecker, a lawyer for Sagar Adani, also declined to comment.
The SEC charged Adanis in November 2024 with violating US securities law by orchestrating a scheme to pay or promise hundreds of millions of dollars in bribes to Indian government officials for the benefit of Adani Green Energy, where both are executives and directors.
Both defendants are in India and the SEC has reported difficulties in serving them legal documents.
US prosecutors filed a related criminal case in November 2024 against Adanis and several other defendants. In this case, there was no public event for more than a year. The SEC case has been on hold for most of that time. Gautam Adani, 63, founded and chairs conglomerate Adani Group. According to Forbes magazine, he is worth about $59 billion.
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