Adani Green Energy Limited has announced that its directors, Mr. Gautam Adani and Mr. Sagar Adani, intend to file a motion to dismiss a complaint by the United States Securities and Exchange Commission (SEC) by April 30, 2026.
The SEC filed a civil complaint against the directors in the United States District Court for the Eastern District of New York. The directors have submitted a pre-motion conference letter to the court, outlining their reasons for seeking dismissal. The grounds for dismissal include the court’s lack of personal jurisdiction over the defendants and the extraterritorial nature of the claims.
The SEC’s complaint alleges misstatements, but the directors argue that these are not actionable and that their lack of involvement in the offering in question should bar the SEC’s claims. The procedural letter was submitted in accordance with the rules set by the EDNY judge.
Adani Green Energy Limited clarified that it is not a party to the proceedings and that no charges have been brought against the company. Additionally, the company reiterated that the directors have not been charged with violations of the United States Foreign Corrupt Practices Act, confirming there are no allegations of bribery or corruption against them.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).