In November 2024, the Adani Group was rocked by a criminal indictment in the United States. The allegations were serious: a 54-page indictment claimed that between 2020 and 2024, Adani and his associates had orchestrated a scheme to pay approximately $265 million in bribes to Indian government officials .
The goal, according to prosecutors, was to secure solar-power contracts projected to generate more than $2 billion in post-tax profits over two decades .
The charges were not limited to bribery. The indictment also accused the defendants of misleading US and international investors to raise nearly $4 billion in financing by concealing the alleged corruption .
The US connection was not accidental. While the alleged bribery took place in India, Adani Green Energy had raised money from American investors, and the US Securities and Exchange Commission (SEC) argued that US securities laws had been violated.
The Step-by-Step Journey of the Case
November 2024: The Indictment
A US grand jury formally indicted Gautam Adani, his nephew Sagar Adani, and several others on 24 October 2024. The indictment was unsealed by a New York federal court on 20 November 2024, sending shockwaves through the global financial markets .
The Adani Group denied all allegations, maintaining that it had acted in accordance with the law .
2025: The Legal Defence Takes Shape
As the case progressed, the Adani team began building a robust legal defence. They argued that the alleged conduct took place entirely in India, that US securities laws did not apply, and that the court lacked jurisdiction. They also strongly denied any investor harm or evidence of bribery .
A US grand jury formally indicted Gautam Adani, his nephew Sagar Adani, and several others on 24 October 2024. The indictment was unsealed by a New York federal court on 20 November 2024, sending shockwaves through the global financial markets .
The Adani Group denied all allegations, maintaining that it had acted in accordance with the law .
2025: The Legal Defence Takes Shape
As the case progressed, the Adani team began building a robust legal defence. They argued that the alleged conduct took place entirely in India, that US securities laws did not apply, and that the court lacked jurisdiction. They also strongly denied any investor harm or evidence of bribery .
Early 2026: A Change in Direction
In early 2026, the SEC sought assistance from Indian authorities to serve summons on Gautam Adani, triggering volatility in Adani Group stocks .
However, the political and legal landscape in the US was shifting. Following the election of President Donald Trump, the Justice Department began to review the case. Adani hired a new legal team led by Robert J Giuffra Jr, co-chair of the US law firm Sullivan & Cromwell, and a personal lawyer to President Trump .
May 2026: The Justice Department Seeks Dismissal
On 18 May 2026, the US Justice Department filed a motion to dismiss the criminal charges against Adani with prejudice .
The department cited "prosecutorial discretion," arguing that continuing the prosecution was not in the US public interest. It pointed to the predominantly foreign nature of the alleged conduct, difficulties in securing evidence and witnesses abroad, and its current enforcement priorities .
It also argued that the case, unsealed during the final weeks of the Biden administration, was a politically motivated "name and shame" exercise with little realistic prospect of reaching trial .
July 2026: The Judge Questions the Motives
US District Judge Nicholas Garaufis did not immediately accept the government's request. In an unusual move, he questioned the Justice Department's reasoning, describing its initial explanation as insufficient .
He also raised a crucial question: had Adani's public pledge to invest $10 billion in the United States and create 15,000 jobs, announced shortly after Trump's election victory, played any role in the decision to drop the charges? The judge wanted to ensure there was no improper quid pro quo .
In a sworn declaration, Gautam Adani stated he was "not aware of anything promised, offered, sought, received, agreed to, or accepted by anyone in connection with the dismissal of the Indictment." His lawyers also clarified that the investment was never offered in exchange for dropping the charges .
10 August 2026: The Dismissal
In a 47-page order, Judge Garaufis granted the Justice Department's Rule 48(a) motion to dismiss the charges against Gautam Adani, Sagar Adani, and former Adani Green Energy CEO Vneet Jaain .
The dismissal was "with prejudice," meaning the charges against them cannot be refiled. The judge, however, reserved judgment on some charges against five non-appearing India-based co-defendants, giving the Justice Department until August 31 to satisfy the court's requirements .
The judge stressed that the dismissal was an exercise of prosecutorial discretion, not a verdict on the allegations. "No one should mistake" the ruling for the court's agreement with the government's decision or an opinion on the merits, Garaufis wrote. No trial was held, witnesses examined, or evidence tested in court .
In early 2026, the SEC sought assistance from Indian authorities to serve summons on Gautam Adani, triggering volatility in Adani Group stocks .
However, the political and legal landscape in the US was shifting. Following the election of President Donald Trump, the Justice Department began to review the case. Adani hired a new legal team led by Robert J Giuffra Jr, co-chair of the US law firm Sullivan & Cromwell, and a personal lawyer to President Trump .
May 2026: The Justice Department Seeks Dismissal
On 18 May 2026, the US Justice Department filed a motion to dismiss the criminal charges against Adani with prejudice .
The department cited "prosecutorial discretion," arguing that continuing the prosecution was not in the US public interest. It pointed to the predominantly foreign nature of the alleged conduct, difficulties in securing evidence and witnesses abroad, and its current enforcement priorities .
It also argued that the case, unsealed during the final weeks of the Biden administration, was a politically motivated "name and shame" exercise with little realistic prospect of reaching trial .
July 2026: The Judge Questions the Motives
US District Judge Nicholas Garaufis did not immediately accept the government's request. In an unusual move, he questioned the Justice Department's reasoning, describing its initial explanation as insufficient .
He also raised a crucial question: had Adani's public pledge to invest $10 billion in the United States and create 15,000 jobs, announced shortly after Trump's election victory, played any role in the decision to drop the charges? The judge wanted to ensure there was no improper quid pro quo .
In a sworn declaration, Gautam Adani stated he was "not aware of anything promised, offered, sought, received, agreed to, or accepted by anyone in connection with the dismissal of the Indictment." His lawyers also clarified that the investment was never offered in exchange for dropping the charges .
10 August 2026: The Dismissal
In a 47-page order, Judge Garaufis granted the Justice Department's Rule 48(a) motion to dismiss the charges against Gautam Adani, Sagar Adani, and former Adani Green Energy CEO Vneet Jaain .
The dismissal was "with prejudice," meaning the charges against them cannot be refiled. The judge, however, reserved judgment on some charges against five non-appearing India-based co-defendants, giving the Justice Department until August 31 to satisfy the court's requirements .
The judge stressed that the dismissal was an exercise of prosecutorial discretion, not a verdict on the allegations. "No one should mistake" the ruling for the court's agreement with the government's decision or an opinion on the merits, Garaufis wrote. No trial was held, witnesses examined, or evidence tested in court .
A Complex Conclusion
The dismissal of the criminal case does not mean the Adani Group has entirely escaped legal scrutiny. A parallel civil securities case brought by the SEC was resolved in May 2026, with Gautam Adani agreeing to pay a $6 million penalty and his nephew Sagar Adani a $12 million penalty, without admitting or denying wrongdoing .
Furthermore, Adani Enterprises separately agreed to pay $275 million to settle a US Treasury Department matter concerning apparent violations of sanctions involving Iran .
The dismissal of the criminal case does not mean the Adani Group has entirely escaped legal scrutiny. A parallel civil securities case brought by the SEC was resolved in May 2026, with Gautam Adani agreeing to pay a $6 million penalty and his nephew Sagar Adani a $12 million penalty, without admitting or denying wrongdoing .
Furthermore, Adani Enterprises separately agreed to pay $275 million to settle a US Treasury Department matter concerning apparent violations of sanctions involving Iran .
"Truth Has Prevailed"
Welcoming the court's decision, Gautam Adani took to social media to declare that "truth has prevailed" .
He said: "Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering. My deepest gratitude to those who never lost faith in us, in the system and in India's capacity for justice. We will continue doing what matters: building for our nation, creating value that outlasts us and serving a purpose larger than ourselves. That is our commitment."
Welcoming the court's decision, Gautam Adani took to social media to declare that "truth has prevailed" .
He said: "Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering. My deepest gratitude to those who never lost faith in us, in the system and in India's capacity for justice. We will continue doing what matters: building for our nation, creating value that outlasts us and serving a purpose larger than ourselves. That is our commitment."
A Controversial End
While the dismissal marks the end of a long and difficult chapter for the Adani Group, questions are likely to linger about the unusual circumstances surrounding the Justice Department's decision. The judge's criticism of the department's internal process and his questioning of the $10 billion investment pledge have ensured that this case will be debated for some time.
While the dismissal marks the end of a long and difficult chapter for the Adani Group, questions are likely to linger about the unusual circumstances surrounding the Justice Department's decision. The judge's criticism of the department's internal process and his questioning of the $10 billion investment pledge have ensured that this case will be debated for some time.
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