Judge declines to immediately dismiss case
U.S. District Judge Nicholas Garaufis refused to immediately grant Adani's request to dismiss the bribery case pending before the court.
The Brooklyn-based judge said federal prosecutors had failed to provide an adequate explanation for their decision to withdraw the charges, and sought further clarification before ruling on the matter.
Background of the case
On May 18, the U.S. Department of Justice permanently dropped all criminal charges against Gautam Adani and his nephew, Sagar Adani, bringing to a close a closely watched securities and wire fraud case that had been filed in a New York court.
The case had drawn significant international attention due to Adani's stature as one of India's leading industrialists and the potential implications for the Adani Group's global business interests.
Allegations behind the case
The case, filed in late 2024, had alleged that the Adanis were involved in a USD 265 million bribery scheme connected to Indian solar power contracts, and that they misled US investors and lenders while raising capital.
However, defence arguments consistently maintained that the matter lacked sufficient US jurisdiction, involved Indian entities and transactions, and did not establish investor losses or actionable misstatements.