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Virendra Pandit

New Delhi: A US court on Monday dismissed fraud charges against Indian billionaire Gautam Adani, marking the end of his US legal troubles, the media reported on Tuesday.

US District Judge Nicholas Garaufis in Brooklyn, New York, on Monday dismissed conspiracy, securities and wire fraud charges against Adani and his nephew Sagar Adani. The case was brought in an indictment in late 2024 during the then-President Joe Biden's administration, Bloomberg reported.

The US had alleged that Adani was part of a scheme to pay more than USD 250 million in bribes to Indian government officials to lock in solar energy contracts — allegations Adani has consistently denied. Judge Garaufis said the charges against the Adanis would be dismissed “with prejudice,” meaning the government cannot revive the case.

The ruling marks the end of Adani's US legal troubles, which also included settlements with the US Securities and Exchange Commission and the Treasury Department. The government's request to drop charges against the Adanis was the culmination of months of behind-the-scenes negotiations and could now set the stage for the tycoon to expand his businesses in the US.

“I welcome the US court's decision with humility and deep respect for the judicial process,” Adani said in a post on X.

In addition to the government's request to drop the fraud case against Adani, Adani Group's flagship Adani Enterprises Ltd. agreed to pay USD 275 million to settle a probe by the Treasury Department's Office of Foreign Assets Control to Iran sanctions violations, the reports said.

In his ruling, the judge said he would not immediately dismiss violations of US anti-bribery laws and obstruction of justice against five other co-defendants in the case. He said the government needs to further explain why it wants to drop those charges.