SEC Suit Against Adani Paused Due to Federal Government Shutdown

The SEC's lawsuit against Gautam Adani, the Indian billionaire, has been paused due to the ongoing federal government shutdown in the United States. The lawsuit, which accuses Adani of violating securities laws, has been put on hold as the SEC is unable to fully pursue the case during the shutdown. The shutdown, which has been ongoing since late 2022, has led to the furloughing of many federal government employees, including those at the SEC. This has impacted the agency's ability to investigate and litigate cases, including the one against Adani. The pause in the lawsuit comes at a critical time, as the allegations against Adani have drawn significant attention in both the US and India. The billionaire has denied the accusations, but the SEC's case has the potential to have far-reaching consequences for his businesses and reputation. The resolution of the lawsuit will now depend on the duration of the federal government shutdown and the SEC's ability to resume its normal operations once the impasse is resolved.