11 - 08 - 2026

US Court dismisses criminal cases against Gautam Adani, Sagar Adani

A United States court dismissed with prejudice the criminal charges against Adani Group Chairman Gautam Adani and his nephew, Sagar Adani, bringing an end to nearly two years of proceedings in an alleged fraud and bribery case.

The US District Court for the Eastern District of New York granted the Department of Justice’s (DoJ) motion to dismiss the indictment against Gautam Adani, Sagar Adani and former Adani Green Energy Limited (AGEL) Chief Executive Officer (CEO) Vneet Jaain. The counts covered securities-fraud conspiracy, wire fraud conspiracy, and securities fraud.

Judge Nicholas Garaufis allowed the DoJ’s motion after seeking additional explanations from prosecutors over their decision to abandon the case.

A dismissal with prejudice permanently closes the criminal proceedings and bars the charges from being refiled but does not amount to a judicial finding on the underlying allegations.

The background

The criminal case originated in November 2024, when US prosecutors alleged that Gautam Adani, Sagar Adani, Vneet Jaain and others were involved in a conspiracy to $250 million in bribes to government officials to secure solar power contracts. These contracts were projected to generate more than $2 billion in net profits over the next two decades.

The Adani Group consistently denied the criminal allegations, describing them as baseless and maintaining that it had acted in accordance with applicable laws and regulatory requirements.

The DoJ also stated that the indictment had little realistic prospect of proceeding to trial and appeared to have been a politically motivated “name and shame” exercise. The court found that the DoJ had met the legal requirements for dismissal on one ground: its argument that alleged statements about Adani Green’s anti-bribery policies and corporate compliance could amount to “inactionable puffery” – broad statements that investors could not reasonably rely on – creating legal risks for the prosecution.

Dismissing the charges, Garaufis said he was satisfied that Adani’s promise in November 2024 to invest $10 billion in the US did not factor into the Justice Department’s decision, adding that judges’ role in reviewing federal prosecutors’ decisions to drop charges was limited.

‘Humility, respect’

“Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering. 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,” Gautam Adanisaid in an X post.

The proceedings unfolded against the backdrop of allegations made by short seller Hindenburg Research in January 2023.

On Tuesday, August 11, Adani Group shares gained in morning trade following the dismissal, with flagship Adani Enterprises trading higher at ₹3,120.50 per share (up 2.4 per cent) and Adani Green Energy at ₹1,810.25 per share (up 3.1 per cent).