In a major relief for Adani Group chairman Gautam Adani, a US court has dismissed with prejudice the criminal charges against him and two others in an alleged fraud and bribery case.
The US District Court for the Eastern District of New York granted the Justice Department’s motion to dismiss the indictment against Gautam Adani, his nephew Sagar Adani and former Adani Green CEO Vneet Jaain.
A dismissal with prejudice permanently ends the criminal proceedings and prevents the charges from being refiled. However, it does not constitute a judicial finding on the underlying allegations.
Judge Nicholas Garaufis had questioned the Justice Department’s decision to drop the case and asked whether Gautam Adani’s November 2024 pledge to invest $10 billion in the United States had influenced the decision.
According to a Reuters report, the Justice Department's decision marked the latest instance in which federal prosecutors had sought to drop a high-profile white-collar criminal prosecution during President Donald Trump's second term in the White House.
The case stemmed from allegations by US prosecutors that Gautam Adani, Sagar Adani and Jaain, along with others, conspired to pay $250 million in bribes to Indian government officials to secure solar power contracts expected to generate more than $2 billion in after-tax profits over two decades.
Prosecutors had also alleged that the group raised more than $3 billion through loans and bond offerings in US markets by misleading investors.
The Adani Group rejected the allegations as baseless and maintained that it had acted in compliance with applicable laws and regulatory requirements.
In his order, Garaufis said he was satisfied that Adani’s investment pledge had not influenced the Justice Department’s decision to dismiss the case. He also noted that the judiciary’s role in reviewing federal prosecutors’ decisions to drop criminal charges is limited.
Welcoming the court’s decision, Adani said he accepted it “with humility and deep respect for the judicial process.”
“Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering. My deepest gratitude to those who never lost faith in us, in the system and in India’s capacity for justice. We will continue doing what matters: building for our nation, creating value that outlasts us and serving a purpose larger than ourselves. That is our commitment,” he said in a post on X.
Last month, Adani had denied under oath that there was any promise, agreement, or deal behind the Justice Department’s move to dismiss a criminal indictment against him.
The affidavit was filed in response to a July 8 order by the US District Court, which directed Adani to state under oath whether he was aware of any promise, offer or agreement related to the dismissal of the indictment.
