Adani Green says US DOJ seeks dismissal of charges against Gautam Adani, Sagar Adani
Himanshu Bose
Adani Green Energy Limited on Monday informed exchanges that the United States Department of Justice (US DOJ) has filed a motion seeking dismissal “with prejudice” of criminal charges against Gautam Adani, Sagar Adani, Vineet S. Jain and other defendants in an ongoing US matter.
The company said the dismissal “with prejudice” would mean the case cannot be reopened and no prosecution can be initiated again for the same allegations. The final order from the United States District Court for the Eastern District of New York is still awaited.
The development marks a major turn in the legal proceedings that began in November 2024, when US authorities filed a criminal indictment alleging securities fraud and wire fraud linked to an alleged bribery scheme involving solar energy contracts in India. Gautam Adani, Sagar Adani and Vneet Jaain were among those named in the case.
In its latest filing, Adani Green stated that the US DOJ reviewed the matter and decided, in its prosecutorial discretion, to seek dismissal of the charges. The company reiterated that Adani Green itself is not a party to the proceedings and that no charges had been brought against the company.
The filing comes days after reports suggested that US authorities were moving towards resolving multiple legal proceedings involving the Adani Group, including civil matters with the US Securities and Exchange Commission (SEC). Reuters had earlier reported that the DOJ was preparing to drop criminal fraud charges following legal negotiations and settlements in related civil cases.
According to Reuters and AP reports, the original indictment alleged that executives concealed information from US investors while raising funds tied to renewable energy projects. The Adani Group has consistently denied wrongdoing and maintained that it follows strong governance and compliance standards.
Adani Green further noted in the exchange filing that the matter relates to criminal indictment number 24-CR-433 filed before the US Eastern District NY Court and pertains to allegations of securities fraud conspiracy, wire fraud conspiracy and securities fraud against certain individuals.
Disclaimer: This article is based on the company’s exchange filing and publicly available reports. It is meant for informational purposes only.