The decision by the United States Department of Justice to move for dismissal of alleged criminal fraud charges against industrialist Gautam Adani and his nephew Sagar Adani has triggered reactions from industry groups and investors, while also lifting sentiment around Adani Group stocks in India.
Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum (USISPF), said Indian companies remain committed to investing in the United States and strengthening bilateral economic ties.
Reacting to the development, Aghi said the resolution of the legal proceedings involving Adani Enterprises removes a distraction from the broader US-India economic relationship.
“At USISPF, we firmly believe these investments underpin Indian companies’ desire to be strong partners in the United States. They will build on existing collaboration, further advance job creation, strengthen infrastructure, and boost long-term bilateral economic growth,” he said.
Aghi also referred to Adani Enterprises’ proposed investment plans in the United States, stating that the group’s announced USD 10 billion investment aligns with broader Indian corporate expansion into the American market.
“Adani Enterprise’s commitment to invest USD 10 billion builds on Ambassador Sergio Gor’s recent announcement that Indian companies plan to invest more than USD 20.5 billion across various sectors in the United States,” he added.
According to reports, the US Department of Justice has sought permanent dismissal of alleged criminal fraud charges linked to accusations that Gautam Adani, Sagar Adani and others orchestrated a bribery scheme tied to solar energy contracts in India between 2020 and 2024.
Federal prosecutors reportedly filed submissions before the court seeking closure of the case. The reported move effectively ends a prolonged legal battle that had drawn international attention because of the scale of the allegations and the stature of the business group involved.
Quoting prosecutors, a report stated: “The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants.”
At the time this report was prepared, the Adani Group had not issued a formal statement regarding the reported dismissal of charges.
The legal developments follow earlier proceedings initiated by the US Securities and Exchange Commission (SEC), which had pursued civil action against Gautam Adani and others. Reports stated that the SEC matter was settled, subject to court approval.
According to court documents cited in reports, Gautam Adani agreed to pay civil penalties amounting to USD 6 million, while Sagar Adani agreed to pay USD 12 million. The proposed settlement reportedly does not include any admission of wrongdoing.
In a separate matter, reports also indicated that the US Treasury Department agreed to a USD 275 million settlement with Adani Enterprises over alleged sanctions-related violations connected to Iran.
The developments had an immediate impact on stock market sentiment in India.
Adani Enterprises Limited rose 1.69 per cent during early trade to Rs 2,735.30, gaining Rs 45.50. Adani Green Energy Limited advanced 1.13 per cent to Rs 1,384.50, while Adani Total Gas Limited climbed 1.07 per cent to Rs 616.65.
Adani Power Limited also traded in positive territory, rising 0.39 per cent to Rs 220.15. Adani Energy Solutions Limited, however, slipped marginally by 0.10 per cent to Rs 1,327.00.
The case had remained under close watch by global investors because of its potential implications for international financing, regulatory scrutiny and India-US corporate relations. The latest developments are expected to renew focus on Indian conglomerates expanding investments in overseas markets, particularly in sectors such as infrastructure, energy and manufacturing.
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