Adanis Win US Court Hearing to Dismiss SEC Case

April 8, 2026

A US judge has granted a request from Billionaire industrialist Gautam Adani to schedule a hearing to dismiss a US Securities and Exchange Commission (SEC) case of alleged fraud. The plea states that the case represents an impermissible extraterritorial application of US law and that the SEC has failed to establish actionable claims under US securities laws.

Court Grants Adanis Pre-Motion Hearing in SEC Case

“The court has received Defendants’ letter requesting a pre-motion conference on their anticipated motion to dismiss the Complaint. The court grants that request and direct the parties to schedule the pre-motion conference,” the Eastern District Court of New York has stated in its order.

The court’s decision to grant a hearing allows the Adanis’ to argue that the regulator’s complaint should be thrown out at an early stage, potentially avoiding a protracted discovery process and trial. The case brought by SEC in November 2024 alongside a criminal complaint by the US Department of Justice.

Adanis Challenge SEC Case, Deny Allegations

The counsels for Gautam Adani and his nephew Sagar stated in court that there was no credible evidence supporting the alleged bribery scheme. They pointed out that the SEC lacked necessary jurisdiction over the two men and that the alleged misstatements underpinning the case weren’t actionable.

The plea also argues that the SEC’s claims over a 2021 bond sale by the Group’s renewable energy arm Adani Green Energy are legally flawed on multiple grounds. The $750-million bond sale was conducted outside the United States under Rule 144A and Regulation S exemptions, with securities sold to non-US underwriters and only later resold in part to qualified institutional buyers, they said.

Adanis Claim SEC Case Lacks US Jurisdiction

The Adanis argued that the SEC lacked personal jurisdiction, saying neither of them had sufficient contacts with the US or direct involvement in the bond offering. The plea filed by the lawyers added that the complaint does not allege that Gautam Adani approved the issuance, attended key meetings, or directed any activity at US investors. The plea also highlights that the “SEC does not allege that there were any investor losses, and there were none.

“This case is thus conclusively beyond the reach of the US securities laws.” The defendants also said the SEC does not allege any investor losses, adding that the bonds matured and were fully repaid with interest in 2024.

There is no allegation that any US company bid on the project, or that any US customer purchased energy in the project. In fact, there was no such US involvement,” the plea said.