Adani's Legal Storm Subsides: U.S. Cases Near Resolution

Gautam Adani is close to resolving multiple U.S. legal investigations, with the SEC settling a civil case and DOJ expected to drop charges related to a bribery scheme for solar contracts in India. Adani's legal team challenged evidence and jurisdiction, with the case affecting international market access.

In a pivotal legal development, billionaire Gautam Adani is on the brink of settling multiple U.S. investigations, according to sources. The Securities and Exchange Commission (SEC) has resolved its civil allegations, while the Department of Justice (DOJ) is expected to conclude its criminal case soon.

The cases accused Adani and his nephew, Sagar Adani, of a US$265 million bribery scheme for Indian solar contracts and concealing the deal from U.S. investors. Adani agreed to a US$6 million settlement with the SEC, and Sagar Adani USD 12 million, both without admitting wrongdoing. The DOJ's resolution could prevent future reopening of charges.

The legal saga unfurled alongside U.S. policy shifts under the Trump administration, which relaxed overseas bribery enforcement. Despite scrutiny of evidence and jurisdiction, markets responded positively, with Adani Group's bonds rallying on news of the settlements.