New Delhi/New York, 11 August (H.S.): A US court has permanently dismissed the criminal case involving Adani Group Chairman Gautam Adani and his nephew, Sagar Adani, bringing an end to nearly two years of legal proceedings related to alleged securities fraud and bribery.

The US District Court for the Eastern District of New York accepted a motion filed by the US Department of Justice under Rule 48(a) of the Federal Rules of Criminal Procedure and dismissed the second, third and fourth counts included in the indictment.

Judge Nicholas Garaufis approved the Justice Department's request after seeking additional clarification from prosecutors regarding their decision to withdraw the case.

The permanent dismissal means that the criminal proceedings concerning these charges have been conclusively terminated and the same charges cannot be brought again. The counts included conspiracy to commit securities fraud, conspiracy to commit wire fraud and securities fraud.

Gautam Adani welcomed the court's decision, saying that he accepted the outcome with humility and deep respect for the judicial process. In a post on social media platform X, Adani said that throughout the challenging period, his faith in truth, fairness and the rule of law had remained unwavering.

He expressed gratitude to those who continued to place their trust in the Adani Group, the legal system and India's judicial institutions. Adani said the group would continue working towards nation-building, creating long-term value and serving a purpose larger than itself.

The criminal case was initiated in November 2024, when US prosecutors accused Gautam Adani, Sagar Adani, former Adani Green Energy Limited (AGEL) CEO Vneet Jaain and others of allegedly participating in a scheme to pay approximately $250 million in bribes to Indian government officials.

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Hindusthan Samachar / Jun Sarkar