Now Reading: US judge permanently dismisses Adani graft case; truth prevailed
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US judge permanently dismisses Adani graft case; truth prevailed
US judge permanently dismisses Adani graft case; truth prevailed
A US federal judge has permanently dismissed the criminal securities-fraud case against Gautam Adani and his nephew Sagar, ending nearly two years of prosecution without a trial. District Judge Nicholas Garaufis granted…
The Story in Brief
A US federal judge has permanently dismissed the criminal securities-fraud case against Gautam Adani and his nephew Sagar, ending nearly two years of prosecution without a trial. District Judge Nicholas Garaufis granted the Justice Department's request to dismiss three of five counts with prejudice, accepting the argument that alleged statements about anti-bribery policies were 'inactionable puffery.' He rejected other DOJ justifications, including that Indian authorities found no misconduct, and criticised the internal decision-making process as 'highly unusual.' The case, unsealed in November 2024, alleged Adani executives paid $265 million in bribes to Indian officials for solar contracts. Adani said 'truth has prevailed' and reaffirmed commitment to nation-building. The judge noted a reported $10 billion investment pledge by Adani's attorney was not a factor in the dismissal.
The Indian Opinion
Some hail the dismissal as vindication; others see a Trump administration favour. The judge's order undercuts both: he accepted only the 'puffery' defence, explicitly rejected the DOJ's other reasons, and called the internal process 'highly unusual.' That is far from a clean acquittal. The real test will be whether the SEC pursues its civil case and whether Indian regulators examine the allegations afresh.
Sources (2): rediff.com, thehindu.com
This story was synthesised by AI from the 2 sources linked above.
