In a legal victory for billionaire tycoon Gautam Adani, the Bombay High Court has given him and his brother, Rajesh Adani, a clean chit in a long-standing market violation case worth nearly ₹388 crore. The ruling marks the latest twist in a saga that has kept financial circles buzzing for over a decade.
The case dates back to 2012, when the Serious Fraud Investigation Office (SFIO) slapped Adani Enterprises Limited (AEL) and its top executives with charges of criminal conspiracy and financial misdeeds. A magistrate’s court initially discharged the Adanis in 2014, only for the SFIO to appeal, leading to a sessions court reversing the discharge in 2019, citing alleged unlawful gains.
Undeterred, the Adanis took the matter to the Bombay High Court, which has now dismissed the SFIO’s claims as legally untenable. Justice RN Laddha, ruling in their favor, quashed the sessions court’s order, effectively exonerating the Adani duo from all allegations.
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Adani Group, led by its formidable chairman Gautam Adani, has consistently maintained its innocence, branding the accusations as “arbitrary and illegal.” While this verdict puts to rest one chapter of Adani’s legal battles, scrutiny remains. Across the globe, Gautam Adani has also been battling bribery allegations in the US, where federal prosecutors accuse him of greasing palms to secure power deals for Adani Green Energy. The conglomerate has strongly denied the claims, dismissing them as baseless and pledging to pursue every legal avenue to clear its name.
With this latest court ruling, the Adani empire gets a breather from legal entanglements—at least on the home turf. Whether this marks the end of the turbulence or just another brief pause remains to be seen.
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