Billionaire businessman Gautam Adani’s nearly two-year legal battle in the United States has reached a major turning point, with a US court dismissing the criminal case against him and two other individuals. US District Judge Nicholas Garaufis on August 10 dismissed the criminal indictment against Gautam Adani, his nephew Sagar Adani and Adani Green Energy director Vneet Jaain “with prejudice”. Adani Green Energy said the dismissal means the case has been completely closed and cannot be reopened or prosecuted again over the same allegations.
The legal dispute began in November 2024 with a US criminal indictment alleging bribery and securities fraud. The matter subsequently developed into three separate legal proceedings involving the US Department of Justice, the Securities and Exchange Commission (SEC), and a sanctions matter involving Adani Enterprises and the US Treasury Department’s Office of Foreign Assets Control (OFAC). While the criminal case has now been dismissed, the SEC’s civil securities case is moving towards resolution through consent judgments. Separately, Adani Enterprises has settled the sanctions matter with US authorities for $275 million.
The dismissal of the criminal indictment marks the closure of the most significant criminal component of the US legal proceedings against the Adani executives. The remaining civil and regulatory matters are being handled separately under their respective legal processes.
