NEW YORK: Gautam Adani, India’s second richest individual, will ask a U.S. choose to dismiss the Securities and Trade Fee’s civil fraud case stemming from an alleged bribery scheme, his attorneys stated on Tuesday.Adani and his nephew Sagar Adani have been charged by the SEC in November 2024 with orchestrating a scheme to pay or promise to pay a whole bunch of hundreds of thousands of {dollars} in bribes to Indian authorities officers to profit Adani Inexperienced Vitality, the place each males are executives and administrators.The securities fraud case is tied to Adani Inexperienced’s alleged failure to reveal the scheme in paperwork for a $750 million bond providing in 2021.In a submitting within the Brooklyn, New York federal court docket, the Adanis’ attorneys stated their purchasers disputed there was any credible proof supporting the alleged bribery scheme.The attorneys stated the Adanis’ lack of involvement within the providing, and the absence of any intent to defraud or negligence, supported a dismissal.In addition they referred to as the SEC claims “impermissibly extraterritorial,” reflecting how the Adanis and all alleged misconduct have been in India, and the bonds have been by no means traded on a US trade.The SEC had no instant remark. Legal professionals for the Adanis stated they’ll formally search a dismissal by April 30.US prosecutors filed a associated legal case in November 2024 in opposition to the Adanis and several other different defendants. There have been no public developments in that case since December 2024. A spokesman for the U.S. Lawyer’s workplace in Brooklyn declined to remark.Gautam Adani, 63, based and chairs the conglomerate Adani Group, and is chairman of Adani Inexperienced.He’s price about $60.6 billion, rating thirtieth worldwide in keeping with Forbes journal.Mukesh Ambani, chairman of the conglomerate Reliance Industries, is India’s richest individual, price about $91.4 billion and rating twentieth worldwide, Forbes stated.(This can be a Reuters story)