US court drops graft case against Gautam Adani
A US federal judge has dismissed a bribery and fraud case against Indian billionaire Gautam Adani and several associates. The Department of Justice requested the dismissal, citing evidentiary issues and the fact that the defendants were foreign nationals who were unlikely to appear for trial.
Why it matters
The dismissal ends a high-profile legal battle involving one of India's largest conglomerates and raises questions about the DOJ's initial pursuit of the case.
A US federal judge in New York dismissed on Monday a nearly two-year-old criminal case alleging bribery and fraud against Indian billionaire Gautam Adani and seven others.Since the charges were brought in Nov 2024, the Adani Group has denied the allegations, calling them baseless and maintaining that the companies and individuals had acted in accordance with applicable laws and regulatory requirements.The US department of justice (DoJ) gave six “overlapping bases” seeking dismissal of the case — including this was a foreign case; India did not find any “actionable misconduct”; “not a single penny was lost” on securities issued; and that there were “extraordinary proof problems”.In addition, the department submitted that when the indictment was unsealed in Nov 2024 in the final days of the Biden administration, it was done “apparently as a ‘name and shame’ designed to levy accusations without any realistic prospect of a trial ever occurring.US DoJ gives…
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