- A US court has 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 Justice Department's Rule 48(a) motion to dismiss the indictment against Gautam Adani, Sagar Adani and former Adani Green CEO Vneet Jaain.
- Judge Nicholas Garaufis approved the Justice Department's request after seeking additional explanations from prosecutors on their decision to abandon the case.
- In the 47-page ruling, Judge Nicholas Garaufis slammed the conduct of Trent McCotter, the principal associate deputy Attorney General, saying he "eschewed the professional opinions of innumerable officials from various federal offices and replaced them with his singular judgment."
- Judge Garaufis also said it was "highly unusual" that McCotter's decision to drop the indictment against the Indian tycoon was made "largely in collaboration with defense counsel," and "seemingly without input" from agencies that investigated the bribery and fraud charges.
- A dismissal with prejudice permanently closes the criminal proceedings and bars the charges from being refiled.
- Adani in a post on X said he welcomed the U.S. court's decision with "humility and deep respect for the judicial process" and added that his faith in "the rule of law remained unwavering."
- The Securities and Exchange Commission's (SEC) separate civil action has also been resolved through a final judgment against Gautam Adani, under which he consented to the order without admitting the allegations, and requires him to pay a USD 6 million civil penalty to the SEC within 30 days.
A U.S. judge dismissed the bribery case against Gautam Adani on Monday, ending nearly two years of legal proceedings. The U.S. District Court for the Eastern District of New York granted the Justice Department's motion to dismiss the indictment with prejudice, preventing the charges from being refiled.1
The case, which began in November 2024, involved allegations that Adani and others conspired to pay USD 250 million in bribes to Indian officials to secure solar power contracts projected to yield over USD 2 billion in profits. Prosecutors claimed that the defendants misled U.S. investors while raising more than USD 3 billion through loans and bond issuances.
Judge Nicholas Garaufis criticized the conduct of Trent McCotter, the principal associate deputy Attorney General, for his decision-making process, stating it was "highly unusual" that he collaborated with defense counsel without input from investigating agencies. McCotter had filed a request to dismiss the indictment, asserting that the DOJ would not pursue the charges further.34
Adani welcomed the ruling, expressing his faith in the judicial process. His legal team, led by Robert Giuffra, submitted extensive documentation to assist McCotter in understanding the case. The Adani Group has consistently denied the allegations, labeling them as baseless and asserting compliance with laws and regulations.
Additionally, a separate civil action by the Securities and Exchange Commission concluded with Adani agreeing to a USD 6 million penalty without admitting to the allegations.89
“Judge Nicholas Garaufis's 47-page ruling slammed Trent McCotter for replacing officials' opinions with his singular judgment. Separately, Adani consented to a $6 million SEC civil penalty without admitting allegations, payable within 30 days.”
CNBC
