New York: A US federal judge has permanently dismissed criminal charges against Adani Group chairman Gautam Adani and his nephew Sagar Adani, bringing a major legal chapter involving the Indian conglomerate to an end.
US District Judge Nicholas Garaufis of the Eastern District of New York approved the Justice Department’s request to dismiss three counts against Gautam Adani, Sagar Adani and former Adani Green Energy CEO Vneet Jaain. The charges involved securities-fraud conspiracy, wire-fraud conspiracy and securities fraud.
The dismissals were made “with prejudice”, meaning the same charges cannot be refiled. However, the judge made it clear that the decision should not be interpreted as a judicial finding that the allegations were false or that the accused had been exonerated after a trial.
In his 47-page order issued on August 10, Garaufis said the dismissal represented an exercise of prosecutorial discretion. No trial had taken place, and therefore no witnesses had been examined and the evidence had not been tested in court.
The indictment, originally returned by a grand jury in October 2024 and unsealed the following month, had alleged that Adani executives were involved in schemes between 2020 and 2024. US prosecutors had accused them of paying approximately $265 million in alleged bribes to Indian officials to secure solar-power contracts, misleading investors while raising billions of dollars in financing and attempting to conceal evidence.
The Adani Group has consistently denied the allegations and maintained that it complied with applicable laws.
The Justice Department sought dismissal in May following an extensive review, citing jurisdictional and evidentiary difficulties, the predominantly India-based nature of the alleged conduct, scrutiny by Indian authorities and the absence of identified investor losses. It also said pursuing the prosecution no longer aligned with departmental priorities.
Judge Garaufis had initially questioned the government’s explanation and sought additional information. He also examined whether Adani’s November 2024 pledge to invest $10 billion in the United States and create 15,000 jobs had influenced the decision. The judge ultimately concluded that the investment pledge had not played a role in the dismissal.
Adani welcomed the ruling, saying he accepted it with “humility” and “deep respect” for the judicial process. He said the Group’s faith in “truth, fairness and the rule of law” had remained unwavering and reaffirmed its commitment to nation-building and long-term value creation.
The judge has, however, reserved judgment on two other counts concerning alleged Foreign Corrupt Practices Act violations and conspiracy to obstruct justice involving five India-based, non-appearing defendants. The Justice Department has until August 31 to meet the court’s requirements regarding those proceedings.
