New Delhi [India], August 11 : The dismissal of criminal charges against Gautam Adani and Sagar Adani by a United States district court was an "expected decision" in a case that lacked factual basis from its beginning, said Senior Advocate Mahesh Jethmalani speaking to ANI.
The legal case in the United States against Gautam Adani and Sagar Adani came to a complete closure after US District Judge Nicholas Garaufis of the US District Court for the Eastern District of New York dismissed the criminal charges against them.
Reacting to the judicial development, Jethmalani stated that the outcome aligned with expectations formed when the issue first surfaced.
"My first reaction is that this was an expected decision. Long ago in 2024, when this issue blew up on the eve of the parliamentary session in November 2024, I said this was a bogus case. There's no basis to it," Jethmalani said speaking to ANI.
"And exactly what happened first, the DOJ who brought this case, itself said that we want to withdraw the case and they invited the judge to dismiss the case because according to them, there was no violation at all on the part of the Adani group, particularly Adani Green, which was the company involved," he said.
"Then the judge took his time because he wanted to be sure as he's entitled to and should do to make sure that everything was bona fide in this matter. And after his investigation and his inquiry, he has found that there is indeed no reason to ever start this case," Jethmalani added.
"And he has given them a complete chit with prejudice. With prejudice means that nothing can happen ever again on this issue in America against the Adanis. That's why they use the word with prejudice. That with prejudice, this case is closed," he noted.
The US District judge granted federal prosecutors the permission to withdraw the indictment after examining their grounds, ending allegations regarding an Indian solar power contract bribery scheme that allegedly misled American investors.
Addressing the broader implications for domestic commercial entities investing overseas, Jethmalani noted that Indian companies need to remain cautious regarding foreign regulatory frameworks.
"It just shows that Indian companies should be very wary, right? Because the US agencies, enforcement agencies over there, and those concerned with regulatory matters regarding investments in America, are protected very seriously. So one has to be very, very careful about any investments made in America," he said.
Jethmalani noted that generally Indian companies have a pretty good record about complying with law, but "this seems to be more of a, the case was so misconceived and I said so in 2024, November, the case was so misconceived that it almost looked like a witch hunt against the Adanis, prompted by forces which are which are hostile to the group."
Earlier, following the judicial order, Adani Group Chairman Gautam Adani responded to the dismissal, acknowledging the ruling and reaffirming trust in the legal system.
"I welcome the US court's decision with humility and deep respect for the judicial process. Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering. My deepest gratitude to those who never lost faith in us, in the system and in India's capacity for justice," Adani said.
"We will continue doing what matters: building for our nation, creating value that outlasts us and serving a purpose larger than ourselves. That is our commitment. Jai Hind," he added.