US court drops graft case against Gautam Adani

A US federal judge in New York dismissed a criminal case alleging bribery and fraud against Indian billionaire Gautam Adani and seven others on Monday. The charges were brought in November 2024, but the Adani Group has consistently denied the allegations, stating they are baseless and that the companies and individuals acted within the law.

The US Department of Justice (DoJ) provided six "overlapping bases" for dismissing the case, including it being a foreign case, India lacking evidence of wrongdoing, no loss of money on securities issued, and issues with the proof. The DoJ also claimed the indictment was an attempt to publicly shame the defendants without any realistic chance of a trial.

The defendants, all foreign nationals, had never appeared in court and likely would not in the future. The judge questioned the reasons for dropping the charges, including whether the Adani Group's promise to invest $10 billion in the US influenced the decision. The Adani Group's CEO, Gautam Adani, expressed gratitude for the faith in truth, fairness, and the rule of law during the challenging period and reaffirmed the group's commitment to building for the nation and serving a larger purpose.