A US federal court has dismissed with prejudice the criminal charges against Adani Group Chairman Gautam Adani, his nephew Sagar Adani and former Adani Green Energy CEO Vineet Jain, bringing an end to nearly two years of proceedings over alleged bribery and securities fraud.
The US District Court for the Eastern District of New York approved the Justice Department’s Rule 48(a) request to withdraw the indictment, which included allegations of securities-fraud conspiracy, wire-fraud conspiracy and securities fraud. Judge Nicholas Garaufis granted the motion after seeking additional explanations from prosecutors about their decision to abandon the case. The dismissal with prejudice means the same charges cannot be filed again, although it does not amount to a judicial ruling on whether the underlying allegations were true or false.
The case began in November 2024, when US prosecutors alleged that Gautam Adani, Sagar Adani, Vineet Jain and others were involved in a scheme to pay around $250 million in bribes to Indian government officials to secure solar power contracts. Prosecutors claimed the projects were expected to generate more than $2 billion in after-tax profits over two decades. With the court’s latest order, the criminal proceedings against the three Adani executives in the US have now been formally closed.
