U.S. court drops criminal charges against Gautam Adani, nephew Sagar; Adani Group chairman says ‘faith in truth’ remains unwavering

A U.S. federal court has dismissed the criminal case against billionaire Gautam Adani and his nephew Sagar Adani, bringing an end to a legal battle that began in 2024.

Brooklyn-based U.S. District Judge Nicholas Garaufis of the US District Court for the Eastern District of New York on Monday approved the Justice Department’s request to dismiss the charges against the two Adani group executives. The judge said he was satisfied that the Justice Department’s decision to drop the case was independent of the Adani Group’s investment commitments in the US, as per reports.

Gautam Adani, chairman of the Adani Group, welcomed the court’s decision in a social media post, saying his faith in truth, fairness and the rule of law had remained firm throughout the legal proceedings.

“I welcome the U.S. court’s decision 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,” Adani said.

He thanked those who continued to have faith in the group, the judicial system and India’s ability to deliver justice.

“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 added.

The latest development follows the U.S. Department of Justice’s decision in May to permanently drop the criminal charges against Gautam and Sagar Adani, effectively bringing the high-profile case in New York to a close after prosecutors determined that they could not sustain the allegations.

The U.S. Securities and Exchange Commission had also settled civil allegations in May related to disclosures made to investors in connection with solar power projects in India. Under the settlements, Gautam Adani agreed to pay $6 million, while Sagar Adani agreed to pay $12 million, without admitting or denying wrongdoing.

The criminal case, filed in late 2024, alleged that the Adanis were involved in a $265 million bribery scheme involving Indian government officials to secure solar power contracts. US prosecutors further alleged that the arrangement was concealed from investors and lenders in the US while the group raised capital.

The Adani Group has consistently denied the allegations, calling them baseless and defending its governance and compliance practices. The group had maintained that it would challenge the allegations through appropriate legal channels.

The dismissal removes a major legal overhang that had threatened to complicate the Adani Group’s efforts to expand its global presence and strengthen its relationships with international investors and lenders.