The United States Department of Justice (DOJ) has officially dropped all criminal charges against Indian billionaire Gautam Adani and his nephew Sagar Adani, bringing a high-profile fraud and bribery investigation in New York to a permanent close. The development marks a major legal and reputational victory for the Adani Group after months of global scrutiny.
According to court filings in the Eastern District of New York, prosecutors requested dismissal of the indictment “with prejudice,” meaning the case cannot be reopened in the future. The DOJ stated that after reviewing the matter, it had decided not to devote further prosecutorial resources to the case.
The case originally stemmed from a 2024 indictment in which US prosecutors accused Gautam Adani and several associates of involvement in an alleged bribery and securities fraud scheme connected to solar energy contracts in India. Prosecutors had alleged that more than $250 million in bribes were offered to Indian officials while misleading US investors during fundraising activities.
However, reports now indicate that prosecutors concluded the available evidence was insufficient to sustain the allegations and that jurisdictional challenges weakened the case. Sources quoted in media reports said investigators found no strong US linkage capable of supporting criminal prosecution.
The closure of the criminal case follows a series of recent settlements involving US regulatory agencies. Last week, the US Securities and Exchange Commission (SEC) settled related civil allegations involving Gautam Adani and Sagar Adani. Court filings reportedly showed Gautam Adani agreed to pay $6 million and Sagar Adani $12 million without admitting or denying wrongdoing.
Separately, the US Treasury Department’s Office of Foreign Assets Control (OFAC) also settled allegations involving LPG imports linked to Iran sanctions. The Adani Group agreed to pay approximately $275 million while cooperating with investigators and making disclosures during the process.
The Adani Group has consistently denied all wrongdoing and previously described the allegations as baseless and politically motivated. The conglomerate maintained that its operations complied with all applicable laws and regulations.
Following the announcement, shares of several Adani Group companies rallied sharply on Indian stock exchanges as investors reacted positively to the legal closure. Analysts believe the development could improve investor confidence and help revive some international projects and financing opportunities that had slowed after the original indictment.
Reports also noted that the dismissal comes amid broader changes in enforcement priorities under the Donald Trump administration in the United States. Some international media outlets reported that Adani’s legal team argued there was insufficient evidence and limited US jurisdiction in the case.
The case had previously affected several Adani-linked global business deals and triggered sharp volatility in Adani Group stocks after the allegations first surfaced in 2024. With the charges now permanently dismissed, the conglomerate is expected to focus on rebuilding global investor trust and expanding its international operations.
