US Court Dismisses Criminal Case Against Adanis

The US District Court for the Eastern District of New York on Monday dismissed criminal charges against Gautam Adani, his nephew Sagar Adani and former Adani Green CEO Vneet Jaain. The US court accepted the US Department of Justice’s request to dismiss the case with prejudice, permanently ending the criminal proceedings.

The charges included securities fraud conspiracy, wire fraud conspiracy and securities fraud. The case involved allegations of a bribery scheme linked to solar power contracts in India. It was also alleged that US investors were misled.

Welcoming the US court’s verdict, Adani Group Chairman Gautam Adani said his faith in truth, fairness and the rule of law remained strong throughout the case. In a post on X, Adani said he welcomed the court’s decision with “humility and deep respect for the judicial process.”

“Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering,” Adani said. He also thanked those who continued to have faith in him, the judicial system and India’s ability to deliver 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. Jai Hind,” he said.

With the court’s dismissal, the nearly two-year-old criminal case against Gautam Adani, Sagar Adani and Vneet Jaain has come to an end.

The Jagan Connection

It can be noted that YS Jagan’s name came up in the US case against Gautam Adani over an alleged bribery scheme linked to a major solar power deal.

US prosecutors alleged that Gautam Adani and others promised or offered more than $200 million, around ₹1,750 crore, in bribes to Indian officials to secure solar power contracts.

The allegations also referred to a meeting between Adani and Jagan Mohan Reddy in 2021 in connection with the solar power deal.

However, Jagan and his YSRCP party rejected the allegations, calling them baseless and politically motivated. They said Andhra Pradesh had no direct power purchase agreement with the Adani Group. They said that meeting industrialists and business leaders was part of his official duties as Chief Minister and that such meetings did not mean any wrongdoing.