New York, April 8
A US judge has agreed to hear billionaire Gautam Adani’s request to dismiss a fraud case brought by the US Securities and Exchange Commission, marking a fresh legal turn in a closely watched dispute over alleged bribery and investor disclosures.
The order, issued by a federal court in Brooklyn, New York, allows Adani and his nephew, Sagar Adani, to move ahead with a pre-motion conference before formally seeking dismissal of the complaint. Their lawyers argue that the SEC case should not proceed because the regulator lacks jurisdiction and because the allegations do not meet the legal threshold under US securities law.
In its brief order, the Eastern District of New York said it had received the defendants’ request for a pre-motion conference and granted it, directing both sides to arrange the hearing. The step does not amount to a ruling on the merits, but it gives the Adanis an early chance to challenge the case before a lengthy court battle unfolds.
The SEC case, filed in November 2024 along with a criminal complaint from the US Department of Justice, says the Adanis were involved in an alleged plan to pay more than $250 million in bribes to Indian officials to win solar power contracts. The US authorities also allege that the scheme’s details were kept hidden from investors and lenders in the US while the company was raising capital.
Lawyers for the Adanis have strongly denied the accusations, telling the court there is no credible evidence to support the alleged bribery scheme. They also argue that the SEC has no proper legal authority over the two India-based defendants and that the statements at the heart of the complaint cannot be treated as actionable misrepresentations.
The Adani Group has said none of its companies or executives have been charged under the US Foreign Corrupt Practices Act, and that Adani Green Energy — the business linked to the fundraising — is not itself a party to the SEC proceedings.
The legal process had moved slowly for months because US authorities struggled to formally serve notices on the defendants in India. During that period, the Adani Group — whose businesses span ports, mining, real estate, renewable energy and media — continued to attract global capital, including backing from major investors such as BlackRock.
By granting the hearing, the Brooklyn court has opened the door for Mr Adani to argue that the complaint should be thrown out at an early stage. If successful, it could spare the company and its executives from a drawn-out discovery process and a full trial in the United States.
For now, the court’s decision is procedural rather than substantive. But it gives the Adanis an important opportunity to challenge whether the SEC can pursue a case that reaches across borders and centres on alleged conduct tied to India’s renewable energy sector.
