Adani Group stocks experienced exceptional gains on Tuesday following the US Department of Justice's decision to permanently drop all criminal charges against Indian tycoon Gautam Adani and his nephew Sagar Adani. According to latest reports, NDTV emerged as the top gainer, rallying as much as 11.30 per cent to ₹82.88 apiece, while Adani Total Gas gained up to 4.24 per cent and Adani Green Energy rose up to 5.43 per cent. Adani Enterprises surged as much as 3.15 per cent to ₹2,774.50 apiece on the NSE, with other group companies including Adani Power, Adani Transmission, and Adani Ports also gaining. Among other group companies, Adani Power, Adani Energy, AWL Agri Business, Adani Ports, Ambuja Cements, and ACC were trading almost flat with a positive bias.
The move effectively brings the high-profile securities and wire fraud case in New York to a close, with prosecutors reportedly concluding that the allegations could not be sustained. As reported by Business Standard, US prosecutors in the Eastern District of New York requested the court to dismiss the indictment against the Adanis with prejudice, meaning the case cannot be reopened. The Department of Justice stated that "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." The securities and wire fraud case had accused the Adanis of misleading investors in relation to solar energy projects in India, with the agency noting that the company did not "voluntarily self-disclose" the suspected sanctions breaches and considered the matter an "egregious case." Judge Nicholas Garaufis must still approve the request, with lawyers for Adani and his co-defendants having consented to the dismissal.
On Monday, Adani Enterprises entered into an agreement with the United States Department of Treasury's Office of Foreign Assets Control (OFAC) by paying $275 million to settle its potential civil liability for apparent violations of OFAC sanctions on Iran. As reported by Business Standard, "This settlement is without admitting the allegations made by OFAC," Adani Enterprises said in an exchange filing. According to OFAC, from November 2023 to June 2025, the company had bought LPG shipments from a Dubai-based trader that claimed the supplies came from Oman and Iraq, but there were warning signs suggesting the gas may have actually originated from Iran. The company made 32 "US dollar denominated payments" worth about ₹192 million through US banks for these shipments, with OFAC noting there were "red flags" that should have alerted the company that the LPG may have been of Iranian origin.
Over the past few days, several US regulatory and legal probes involving the Adani Group have come to a close. According to media reports cited by Business Standard, last week, Adani's lawyer, Robert Giuffra Jr, who also serves as personal attorney to US President Donald Trump, said in a presentation that Gautam Adani was keen to invest $10 billion in the United States but had been unable to proceed because of the ongoing cases. The resolution of these legal matters may now open new investment avenues for the group. The move comes after the US Securities and Exchange Commission (SEC) settled a related lawsuit against Adani, with Gautam Adani agreeing to pay $6 million and Sagar Adani agreeing to pay $12 million, without admitting or denying wrongdoing. Adani built his fortune in the coal business in the 1990s and, over time, the Adani Group embraced a diverse portfolio investing in industries like renewable energy, defense and agriculture, amassing a clean energy portfolio that included one of the world's largest solar power plants.
