Overview
- The Justice Department, in a Monday filing, asked a Brooklyn judge to throw out the 2024 indictment against Gautam and Sagar Adani with prejudice, a step that would permanently bar retrial, and the request still awaits court approval.
- Prosecutors had alleged a scheme to pay roughly $250–$265 million in bribes to Indian officials to secure solar contracts and to mislead U.S. and global investors while raising billions, accusations the Adani Group has denied.
- Treasury’s sanctions office announced a $275 million settlement with Adani Enterprises over liquefied petroleum gas shipments traced to Iran through a Dubai trader, and officials cited red flags the company failed to address.
- The Securities and Exchange Commission reached consent settlements that would fine Gautam Adani $6 million and Sagar Adani $12 million without admissions of wrongdoing, with the judgments subject to court approval.
- Adani’s U.S. legal team argued the cases overreached American law because the conduct and securities were centered in India, and multiple outlets reported they also floated a $10 billion U.S. investment during talks that prosecutors said would not determine the outcome.