A US judge permanently dismissed the fraud and bribery charges against Gautam and Sagar Adani, ending a 2024 case.

US District Judge Nicholas Garaufis, sitting in Brooklyn, granted the Justice Department’s request to drop the indictment “with prejudice.” That means the case is closed for good and prosecutors cannot bring it back later.

The charges dated back to a 2024 indictment that accused Adani, Sagar Adani and former Adani Green Energy CEO Vneet Jaain of conspiring to pay 250 million US dollars in bribes to Indian officials.

The goal, according to prosecutors, was to secure solar power contracts that could have generated more than two billion dollars in profits over 20 years.

A separate allegation claimed investors were misled while the group raised over three billion dollars through US bond and loan markets. Adani has always denied these claims.

Before signing off on the dismissal, the judge pushed the Justice Department to explain itself.

He also asked Adani and the other defendants to file sworn statements confirming there was no secret deal behind the decision.

Adani complied and denied any such arrangement. There’s an interesting side note here. Adani had earlier promised, back in November 2024, to invest 10 billion dollars into the United States.

Garaufis said he was satisfied that this pledge played no role in the department’s choice to drop the case. The criminal case isn’t the only piece of this story that’s wrapped up recently.

Adani agreed to pay 6 million dollars to settle a related civil matter with the US Securities and Exchange Commission, and Sagar Adani separately agreed to pay 12 million dollars.

Adani Enterprises also cleared a 275 million dollar payment to the US Treasury tied to Iran sanctions claims.

Reacting to the ruling, Adani posted on social media platform X that he welcomed the court’s decision “with humility and deep respect for the judicial process.”

Tired of guessing stocks to trade in daily? Tradz by EquityPandit empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Tradz by EquityPandit app today and take control of your investments!