SEC Suit Against Adani Paused Due to Federal Government Shutdown

The US Securities and Exchange Commission’s lawsuit accusing Gautam Adani of violating securities laws has been paused because of the federal government shutdown.

US prosecutors in Brooklyn, New York, indicted Adani in November, accusing India’s second-richest person of fraud and with helping drive a $250 million bribery scheme. The five-count indictment also accuses Gautam’s nephew, Sagar R. Adani, and Vneet S. Jaain, both executives at Adani Green Energy Ltd., of breaking federal laws.

The SEC filed a parallel suit alleging that Gautum and Sagar Adani violated US securities laws by making false and misleading representations about ...