Adani Gets Relief as US Justice Dept, SEC Likely to Withdraw Cases
Reports say American authorities may end criminal and civil proceedings linked to alleged solar contract bribery case filed in 2024.
WASHINGTON, May 15: US authorities are expected to withdraw criminal fraud charges against billionaire industrialist Gautam Adani and move toward resolving a related civil investigation, according to reports published by Bloomberg and The New York Times.
People familiar with the developments said the US Department of Justice could announce as early as this week that it is dropping the criminal case filed in 2024 against Adani and several associates. The matter involved allegations of a $250 million bribery scheme connected to solar energy projects in India.
The US Securities and Exchange Commission (SEC) is also reportedly considering a settlement in its parallel civil fraud case. The settlement is expected to involve financial penalties rather than criminal prosecution.
The Adani Group has consistently denied wrongdoing. The conglomerate earlier stated that none of its companies or executives had been charged under the US Foreign Corrupt Practices Act. It also clarified that Adani Green Energy, which raised funds from investors, was not directly involved in the proceedings.
Federal prosecutors in Brooklyn had alleged that Adani and others paid bribes to Indian officials to secure solar power contracts while allegedly misleading American investors during fundraising activities. Separately, the SEC accused Adani of playing a central role in promises of large payments linked to what investigators described as one of India’s biggest solar energy projects.
Lawyers representing Gautam Adani and his nephew Sagar Adani argued in court that investigators lacked credible evidence to support the bribery allegations.
Last month, a US judge approved a request from Gautam Adani seeking a hearing on dismissing the SEC’s civil complaint. The defence maintained that US regulators lacked personal jurisdiction because neither Gautam nor Sagar Adani had sufficient ties to the United States or direct involvement in the bond offering process.
According to court filings, the complaint also failed to show that Gautam Adani authorised the bond issuance, attended critical meetings, or specifically targeted US investors.
Reports further claimed that representatives linked to the Adani Group met officials in the Trump administration earlier this year seeking dismissal of the proceedings, arguing the prosecution did not align with President Donald Trump’s policy priorities.
The New York Times reported that the group also highlighted plans to invest $10 billion in the US economy and create around 15,000 jobs if the matter was resolved.
