US court dismisses criminal charges against Gautam Adani, Sagar Adani, Vneet Jaain over alleged solar bribery scheme

A US federal court has dismissed with prejudice the criminal charges against Adani Group chairman Gautam Adani, his nephew Sagar Adani and former Adani Green Energy CEO Vneet Jaain, closing a high-profile US prosecution that had weighed on the Indian conglomerate since late 2024.

The US District Court for the Eastern District of New York, in an order dated August 10, granted the Justice Department's request to dismiss Counts Two, Three and Four of the indictment against the three Adani executives — securities fraud conspiracy, wire fraud conspiracy and securities fraud.

The case dates back to November 2024, when US prosecutors accused Gautam Adani, Sagar Adani and Jaain, along with five other defendants, of being involved in an alleged scheme linked to solar-power contracts in India. The indictment alleged that about $265 million in bribes were promised or paid to Indian government officials to secure power-supply agreements, and that the defendants subsequently misled US investors and lenders about the alleged misconduct.


Separately, Gautam and Sagar Adani have resolved related civil proceedings brought by the US Securities and Exchange Commission, agreeing to pay $6 million and $12 million, respectively. Adani Enterprises has also separately agreed to a $275 million settlement with the US Treasury Department over alleged Iran sanctions violations.

Adani Green Energy, in a stock exchange filing on Tuesday, said the Justice Department had sought dismissal with prejudice after reviewing the charges and deciding, in its prosecutorial discretion, not to pursue the case further.