New York: A US federal judge has dismissed the bribery and fraud case against Indian billionaire Gautam Adani, bringing a major legal battle in the United States to an end, as per media reports.
Adani and seven other executives were indicted in November 2024 over an alleged bribery and fraud scheme linked to solar energy contracts in India.
US prosecutors had alleged that the defendants paid more than $250 million in bribes to Indian government officials to secure lucrative solar power contracts. They were also accused of misleading US investors and financial institutions while raising billions of dollars.
Adani welcomed the court’s decision, saying his faith in the rule of law remained unwavering.
In a 47-page ruling, the US judge criticised the Department of Justice’s handling of the case. The ruling described the decision-making process as unusual and raised concerns over the way the indictment was withdrawn.
The Justice Department had requested that the charges against Adani and the other defendants be dismissed with prejudice, meaning the same charges cannot be brought again in the case.
According to court documents, Adani’s legal team submitted extensive material to the Justice Department during discussions over the case. Media reports said the defence argued that prosecutors lacked sufficient evidence to continue pursuing the bribery allegations.
The case was separate from a civil action by the US Securities and Exchange Commission, which earlier settled bribery-related allegations involving Adani and his nephew.
The dismissal marks a significant development in Adani’s US legal troubles. His business group has major interests in ports, energy, cement and other key sectors of the Indian economy.
As per media reports, Adani’s wealth also rose significantly earlier this year, helping him regain the position of Asia’s richest person.
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