US authorities are moving to end long-running fraud proceedings against billionaire industrialist Gautam Adani, in what could mark a major legal breakthrough for the Adani Group.
According to reports, the US Department of Justice (DoJ) is preparing to drop criminal fraud charges linked to allegations of a large bribery scheme tied to solar power contracts in India. At the same time, the US Securities and Exchange Commission (SEC) is moving toward settling a parallel civil case filed in November 2024.
The SEC settlement is expected to involve a monetary penalty, though without admission of wrongdoing. The exact terms are yet to be finalised and remain subject to court approval.
The case had alleged that Adani and associates were involved in a scheme involving over $250 million in alleged bribes to secure energy contracts, while misleading investors during fundraising in US markets. The Adani Group has consistently denied all allegations.
If the cases are formally closed, it would remove a major legal overhang for one of India’s largest conglomerates, which operates across sectors including ports, energy, infrastructure, and logistics. It would also improve the group’s ability to access international capital markets and pursue expansion plans.
Reports suggest the DoJ may announce withdrawal of charges soon, while the SEC settlement could be concluded with a fine. The developments come after months of legal proceedings, negotiations, and filings in US courts.
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