US authorities are reportedly preparing to drop criminal fraud charges against Gautam Adani.
The SEC is also expected to settle a parallel civil fraud lawsuit linked to alleged bribery in solar contracts.
The development could offer major relief to the Adani Group after months of legal uncertainty.
Big Relief For Gautam Adani? US May Drop Fraud Case, Move To Settle SEC Probe: Report
US authorities are reportedly moving to resolve long-running fraud cases against Gautam Adani, with the Justice Department likely to drop criminal charges and the Securities and Exchange Commission (SEC) expected to settle a parallel civil case.
Summary
In a major development for the Adani Group, US authorities are reportedly moving to end fraud-related legal proceedings against billionaire chairman Gautam Adani, according to a Bloomberg report cited by multiple media outlets.
The report said the US Department of Justice could announce as early as this week that it is dropping criminal fraud charges against Adani. At the same time, the US Securities and Exchange Commission (SEC) is also reportedly working to settle a parallel civil fraud lawsuit filed against Adani and others in November 2024.
The development could mark a major legal reprieve for Adani, whose business empire spans ports, airports, renewable energy, mining and infrastructure.
The case dates back to November 2024, when US prosecutors accused Adani and several executives of being part of an alleged $250 million bribery scheme to secure solar energy contracts in India. Prosecutors had alleged that the group concealed the scheme while raising billions of dollars from American investors through loans and bond offerings.
The Adani Group had denied all allegations, calling the accusations baseless and maintaining that it was fully compliant with global laws.
According to Reuters, the SEC has already moved toward resolving its civil case, with reports suggesting that a monetary settlement may be part of the agreement. However, neither Adani nor the company would be required to admit wrongdoing under such a settlement.
The criminal case had seen limited movement in recent months as Adani and other defendants remained outside the United States. Earlier this year, Adani’s legal team had also argued that US regulators lacked jurisdiction in the matter.
The possible closure of the case comes as the Adani Group continues expanding aggressively across sectors including green energy, logistics and global infrastructure.
A resolution in the US cases could remove a significant overhang on investor sentiment and help the group refocus on global fundraising and expansion plans.
Neither the US Department of Justice, the SEC nor the Adani Group has officially commented on the latest reports.
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