New Delhi, May 14: The legal troubles facing Gautam Adani, chairman of the Adani Group, in the United States may soon be resolved. U.S. authorities have initiated the process to dismiss the fraud allegations against him, potentially bringing an end to a year-long legal dispute.
According to a Bloomberg report, the U.S. Department of Justice may announce the withdrawal of charges against Adani this week. The U.S. Securities and Exchange Commission (SEC) is also preparing to settle civil fraud cases against Gautam Adani and others, which were initiated in November 2024.
The Adani Group has consistently denied these allegations. The resolution of these cases would reopen international capital markets for the Adani Group, facilitating its expansion plans.
Bloomberg’s sources indicate that the U.S. Department of Justice may pursue the dismissal of charges related to incidents occurring outside the country. However, the SEC’s settlement proposal could include provisions for fines.
The U.S. Attorney’s Office has declined to comment on the matter. Similarly, spokespeople for the SEC and the Adani Group have not issued any official statements regarding the case.
It is noteworthy that the Attorney’s Office accused Adani and his associates of bribery amounting to $250 million for securing solar energy contracts in India, alleging that this information was concealed from U.S. investors. The Adani Group has categorically rejected these claims. Furthermore, neither Adani nor his nephew Sagar has appeared in U.S. court regarding these allegations.
In this context, the Adani Group has requested the SEC to dismiss the fraud case, arguing that the U.S. regulator lacks the necessary jurisdiction.
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