Winning Bizness Desk
Mumbai. The US Department of Justice may soon withdraw criminal bribery and fraud charges against Indian billionaire गौतम अडाणी and his associates, according to a Bloomberg report. The development could bring major relief to the Adani Group, which has remained under global legal and financial scrutiny for nearly one-and-a-half years. Reports claim the case involving alleged bribery worth 265 million dollars, nearly Rs 2,500 crore, could officially be closed within this week itself.
Charges linked to solar project deals
The controversy began in November 2024 when federal prosecutors in New York accused Gautam Adani, his nephew Sagar Adani and several executives of plotting to pay huge bribes to Indian government officials. Investigators alleged the money was used to secure solar power project contracts in India.
According to prosecutors, the accused also concealed details of the alleged bribery while raising international funding.
Key allegations included:
- More than 3 billion dollars raised through loans and bonds
- Investors and banks allegedly kept unaware of bribery claims
- Solar energy contracts linked to government clearances
- Criminal corruption and fraud charges filed in the US
The Adani Group had strongly denied all allegations from the beginning and maintained that it followed all international compliance and transparency norms.
SEC civil fraud case may settle
Apart from the criminal case, the US Securities and Exchange Commission (SEC) had also launched a parallel civil fraud investigation in November 2024. Bloomberg reported that discussions are now moving towards a settlement in that matter as well.
Several names had surfaced during investigations, including:
- Sagar Adani
- Former Adani Green Energy CEO Vneet Jain
- Former Azure Power Global executives Ranjit Gupta and Rupesh Agarwal
- Former CDPQ-linked executive Cyril Cabanes
Court filings had also mentioned secret code names allegedly used during conversations. Prosecutors claimed Gautam Adani was referred to as “Numero Uno” and “The Big Man” in internal communications linked to the alleged conspiracy.
No arrest despite US warrants issued
Although US authorities had reportedly secured arrest warrants against Gautam and Sagar Adani, neither was ever taken into American custody. At the time, Gautam Adani was believed to be in India.
The possible closure of the case is being seen as a major turning point for the Adani Group’s international business interests. Analysts believe it may help improve investor confidence and ease concerns among foreign lenders and global institutions.
Industry observers say the biggest gains for the group could include:
- Easier access to global funding markets
- Better investor confidence abroad
- Reduced pressure on international partnerships
- Improved corporate image after legal uncertainty
Business empire built from teenage years
Gautam Adani’s journey has often been described as one of India’s biggest business success stories. He reportedly left school at the age of 16 and entered commodity trading in Gujarat in 1988. Over the decades, the Adani Group expanded rapidly into ports, airports, mining, logistics, electricity generation and transmission.
Today, the conglomerate stands among India’s largest infrastructure groups with a strong presence across sectors critical to the economy.
Global markets watching next legal step
The Bloomberg report has triggered strong interest across financial and political circles because the outcome could reshape the group’s global standing. If the US Justice Department formally drops the criminal case and the SEC matter is settled, the Adani Group may find a smoother path to re-enter American financial markets and expand overseas operations without legal hurdles.
For now, investors and market watchers are waiting for official confirmation from US authorities. The development, if finalised, would mark one of the biggest legal reliefs for the Adani Group in recent years.
