Key developments in 2026 for the Nanban case
Stay informed on the SEC vs. Krishnan et al. case with a detailed overview of all 2026 docket filings and critical court decisions. We aim to keep victims, journalists, and researchers updated on the progress of this significant legal battle.
Significant Court Action in 2026
The most significant development in the civil case during 2026 was the Court's approval on January 8, 2026, to lift the stay in litigation for a defrauded Investors Group. This group, comprising approximately 200 investors, was granted permission to take civil action (Docket 341).
Reasons for lifting the litigation stay
The Court cited several reasons for approving the lift of the litigation stay:
- No statement was ever provided by Nanban parties to doubt defrauded investor claims.
- Due to "the maturity" of the receivership's case and the status of recovery, it was clear that there would not be any dramatic change in asset recovery status. The Court noted that the "state of assets" was not expected to dramatically change.
- The Investors Group's litigation would seek to target assets not in the Receivership or those too costly for the Receiver to pursue.
- The Receiver posed no opposition to the lift in the stay, seeing no negative impact on recovery efforts.
2026 case docket filings
Below is a list of all case docket filings for 2026 in the SEC vs. Krishnan et al. case. Click on any item to view or download the file for detailed information.
| Product | Date of Filing | Description |
|---|---|---|
| 356 | 05/18/2026 | ORDER. Before the Court is the Ninth Interim Application of the Receiver and Gray Reed, as counsel to the Receiver, for allowance of compensation and reimbursement of fees and expenses for the period of January 1, 2026, through March 31, 2026, the end of the first quarter of 2026 (the "Application"). (Dkt. #[355]). The Application, (Dkt. #[355]), is therefore GRANTED, and the Receiver is AUTHORIZED to distribute fees and expenses as outlined herein. The Receiver and his counsel, Gray Reed, and other retained professionals, may submit a final fee application requesting payment of the holdback amounts at the close of this case. (Motion(s)[355] terminated). Signed by District Judge Sean D. Jordan on 5/18/2026. |
| 355 | 05/14/2026 | NINTH MOTION for Attorney Fees Ninth Interim Unopposed Application of the Receiver and Gray Reed, as Counsel to the Receiver, for Allowance of Compensation and Reimbursement of Fees and Expenses for the Period of January 1, 2026 through March 31, 2026 by Anthony Box. |
| 354 | 05/13/2026 | NOTICE of Change of Firm Affiliation by Texas Farm Credit Services |
| 353 | 04/30/2026 | NINTH STATUS REPORT by Anthony Box. |
| 352 | 04/24/2026 | NOTICE of Attorney Appearance by Phillip Blaine Grant on behalf of Texas Farm Credit Services |
| 351 | 04/22/2026 | ORDER. Before the Court is the Receiver's Partially Opposed Expedited Application for Authority to Sell Approximately 245.462 Acres in Bastrop County, Texas and Disburse Certain Related Sale Proceeds ("the Application"). (Dkt. [346]). It is therefore ORDERED that Receiver's Partially Opposed Expedited Application for Authority to Sell Approximately 245.462 Acres in Bastrop County, Texas and Disburse Certain Related Sale Proceeds, (Dkt. #[346]), is GRANTED. It is further ORDERED that the Receiver is authorized to take the actions approved herein immediately upon entry of this Order, including consummating the sale of the Bastrop County Properties to the Buyer. It is further ORDERED that this Court reserves jurisdiction to interpret this Order and all relief granted herein. Signed by District Judge Sean D. Jordan on 4/22/2026. |
| 350 | 04/21/2026 | OPPOSED NOTICE Proposed Order Partially Opposed Expedited Application by Anthony Box re [346] MOTION for Order of Sale, [347] Order Setting Hearing on Motion |
| 349 | 04/21/2026 | Minute Entry for proceedings held before District Judge Sean D. Jordan: Motion Hearing held on 4/21/2026 from 12:06 - 12:43 re [346] MOTION for Order of Sale filed by Anthony Box. Attorney Appearances: Receiver - Chris Davis, Anthony Box, Suhani Patel, Keefe Bernstein; Defense - Kenneth Johnston, Blaine Grant. No exhibits. (Court Reporter - Ruth Weese) |
| 348 | 04/17/2026 | RESPONSE re [346] MOTION for Order of Sale and Limited Position Regarding Sale Proceeds filed by Texas Farm Credit Services. |
| 347 | 04/14/2026 | ORDER. The Court has received the Receiver's Partially Opposed Expedited Application for Authority to Sell Approximately 245.462 Acres in Bastrop County, Texas and Disburse Certain Related Sale Proceeds. (Dkt. #[346]). It is ORDERED that any response or objection to the motion must be filed on or before April 17, 2026. It is further ORDERED that the motion is SET for a hearing on April 21, 2026, at 12:00 p.m. at the United States Courthouse, 7940 Preston Road, Courtroom 105, Plano, Texas 75024. Signed by District Judge Sean D. Jordan on 4/14/2026. |
| 346 | 04/14/2026 | MOTION for Order of Sale by Anthony Box. |
| 345 | 03/11/2026 | STATUS REPORT Regarding The Claims Process by Anthony Box. |
| 344 | 02/20/2026 | ORDER. Before the Court is the Eighth Interim Application of the Receiver and Gray Reed, as counsel to the Receiver, for allowance of compensation and reimbursement of fees and expenses for the period of October 1, 2025, through December 31, 2025, the end of the fourth quarter of 2025. The Application, (Dkt. #[343]), is GRANTED, and the Receiver is AUTHORIZED to distribute fees and expenses as outlined herein. Signed by District Judge Sean D. Jordan on 2/20/2026. |
| 343 | 2/13/2026 | EIGHTH MOTION for Attorney Fees by Anthony Box. |
| 342 | 01/30/2026 | EIGHTH STATUS REPORT by Anthony Box. |
| 341 | 01/08/2026 | ORDER. It is therefore ORDERED that Non-Party Nanban Ventures Investor Group's Motion to Lift the Stay of Litigation with Respect to Actions Against Gopala Krishnan, Manivannan Shanmugam, and Sakthivel Palani Gounder, (Dkt. [276]), is GRANTED. It is further ORDERED that the stay on litigation in this case, (Dkt. #91 at 2122), is lifted with respect to civil actions by Nanban Ventures Investor Group against individual Defendants Gopala Krishnan, Manivannan Shanmugam, and Sakthivel Palani Gounder for claims arising from the Nanban Ventures Investor Groups members investments in the Nanban Venture Funds. Signed by District Judge Sean D. Jordan on 1/8/2026. |
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