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    NORTH AMERICAN Newsline                                                  APRIL 17, 2026    |  The Indian Eye 27

                                         Adani’s plea seeking

                 pre-motion conference to dismiss

                     SEC case accepted by US court

            OUR BUREAU
            New York, NY
                  he U.S. District Court for the
                  Eastern District of New York
            Thas  accepted  a  plea  filed  by
            the counsels for Gautam and Sagar
            Adani for a pre-motion conference to
            dismiss the case.
                In an order the court said that it
            had  received  the  defendants’  letter
            requesting a pre-motion conference
            on their anticipated motion to dis-
            miss the complaint. The court said
            that it granted that request and di-
            rected the parties to confer and to
            contact the court’s deputy to sched-
            ule the pre-motion conference.

            Earlier on Tuesday, the counsels
            for Gautam and Sagar Adani in-
            formed that they intend to seek
            to dismiss the US SEC’s com-

            plaint by April 30 and, as part
            of this process, have submitted
            a letter with the East District
            New York (EDNY) judge inform-

            ing  the  Court  that  the  Defen-
            dants are prepared to attend a
                                                  Gautam Adani is represented
            pre-motion conference should      by Sullivan & Cromwell LLP, while   in the letter to the court.     2020 and 2024 to secure solar ener-
                                                                                    The defendants say that the
                                                                                                                  gy contracts in India.
            the Court wish to schedule one.   Sagar Adani’s counsel is Nixon Pea-  grounds for dismissal also include   The defendants say that the
                                              body LLP and Hecker Fink LLP.     the SEC’s failure to state a claim   Court lacks personal jurisdiction
                In the letter, the Defendants     According to the counsels, in   on the basis that the defendants are   over defendants and the claims
            briefly  set  out  their  grounds  for   September 2021, AGEL conducted   neither based in the US nor conduct   against them should be dismissed
            dismissal of SEC’s complaint, in-  a USD 750 million bond offering   activities there that would grant the   under Rule 12(b)(2). The claims ac-
            cluding that the court concerned   pursuant to SEC Rule 144A and    court jurisdiction and the alleged   cording to the lawyers “involve Indi-
            lacks personal jurisdiction over the   SEC Regulation S, which are reg-  actions involve non-US entities out-  an Defendants, an Indian issuer, se-
            Defendants and the claims against   istration exemptions for private   side the scope of US law.      curities not registered with the SEC
            them,  the  SEC’s  claims  are  imper-  resales  to  qualified  institutional   The defendants also say that   and not traded on U.S. exchanges,
            missibly extraterritorial, the alleged   buyers (QIBs) and non-US sales.  even if the claims are accept-  and underlying conduct alleged to
            misstatements by the Defendants   AGEL sold these bonds outside the   ed at face value, the complaint   have occurred exclusively in India.”
            are too vague and general for any   US through an agreement to non-  fails to establish any action-       The counsels said, the SEC has
            reasonable investor to rely upon as   US underwriters, who then resold   able legal  violation  or  meet the   not alleged underwriters who pur-
            a guarantee of any concrete fact or   the  Notes to  QIBs.  A  fraction of   threshold  required  to  proceed.  chased the bonds from AGEL were
            outcome, making them in-action-   those resales is alleged to have been   The US SEC had alleged that   US institutions as they were not, or
            able,  and  the  Defendants’  lack  of   made to “investors in the United   Gautam Adani, Sagar Adani and   that the Subscription  Agreement
            involvement in the transaction bars   States”. AGEL was not a party to   others orchestrated a USD 250 mil-  underlying the purchases was gov-
            the SEC’s claims against them.    these transactions, the lawyers said   lion-plus bribery scheme between   erned by US law as it wasn’t.”

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