NEW YORK/NEW DELHI, (Economy India): A US federal judge has permanently dismissed the criminal securities-fraud case against Adani Group Chairman Gautam Adani and his nephew Sagar Adani, bringing a nearly two-year prosecution to a close without a trial.
US District Judge Nicholas Garaufis of the Eastern District of New York granted the US Justice Department’s request under Rule 48(a) to dismiss three counts of the indictment with prejudice. The counts involved securities-fraud conspiracy, wire-fraud conspiracy and securities fraud.
A dismissal with prejudice is significant because the charges covered by the order cannot simply be refiled. The ruling therefore represents major legal relief for Gautam and Sagar Adani in the criminal case.
Case Dates Back to 2024
The criminal case was filed in November 2024 and had accused Adani and other executives of involvement in an alleged scheme connected with solar-energy contracts in India. US prosecutors had alleged that more than $250 million in bribes were offered or promised to Indian officials and that information was concealed from investors. Adani and the group have denied wrongdoing.
In May 2026, the US Justice Department moved to end the criminal prosecution. Judge Garaufis initially sought additional explanation from the government before deciding whether to approve the dismissal, describing the initial request as insufficiently detailed. The department subsequently provided further justification for its decision.
Two Counts Remain Pending for Other Defendants
The latest ruling does not resolve every matter mentioned in the original indictment. The court has reserved judgment on Count One, relating to alleged Foreign Corrupt Practices Act violations, and Count Five, concerning alleged obstruction of justice, insofar as they involve defendants who have not appeared before the court.
The government must comply with additional Rule 48(a) requirements before the court makes a final determination concerning those matters.
Adani Says ‘Truth Has Prevailed’
Reacting to the court’s decision, Gautam Adani said that truth has prevailed, welcoming the development after nearly two years of legal proceedings.
The dismissal is also important for the Adani Group from a business and investor-confidence perspective. Adani Group companies and investors have closely followed the US proceedings since the charges were announced in 2024, and the latest court decision removes a major criminal case against the group’s chairman and his nephew.
However, the criminal dismissal should be distinguished from separate civil proceedings. Earlier this year, Gautam Adani and Sagar Adani agreed to settle SEC civil claims, with proposed penalties of $6 million and $12 million, respectively, without admitting or denying the allegations.
The latest ruling marks a significant development in the long-running legal controversy surrounding the Adani Group in the United States.
(Economy India)
