New Delhi: Adani Group Chairman Gautam Adani has submitted a sworn affidavit denying that any promise, agreement, or backdoor deal influenced the US Department of Justice’s decision to dismiss criminal indictment charges against him. The affidavit was filed in response to a direct mandate from US District Judge Nicholas Garaufis of the Eastern District of New York. The court had ordered Adani to state under oath whether he was aware of any hidden exchange, arrangement, or understanding connected to the government’s move to drop the high-profile bribery and fraud charges.
The legal controversy intensified after Principal Associate Deputy Attorney General R Trent McCotter, who described himself as the sole decision-maker behind the case’s withdrawal, rejected widespread speculation linking the dismissal to Adani Group’s plans to invest 10 billion dollars in the United States. McCotter explicitly declared these claims false, stating that the securities fraud case was legally indefensible because the alleged conduct occurred primarily in India, no investor losses were identified, and key evidence remained outside US jurisdiction. Furthermore, McCotter pointed out that Foreign Corrupt Practices Act charges did not align with the current administration’s enforcement priorities. However, Judge Garaufis noted that McCotter’s statements introduced the possibility that an undisclosed agreement might have existed, prompting the court to demand explicit clarification from Adani before officially closing the matter.
In his submission, Adani categorically denied knowledge of any exchange of value or quid pro quo for dropping the 2024 criminal charges, which had originally accused him and seven others of a 250 million dollar bribery scheme to secure Indian power contracts. Addressing the investment timing, Adani clarified that the group’s 10 billion dollar US investment plan had been publicly announced on November 13, 2024, well before the indictment was ever unsealed. While Adani’s legal counsel, Sullivan & Cromwell LLP, had previously noted during DoJ meetings that the proposed investment could form part of a resolution, the DoJ later confirmed that the investment plan would not be considered in the dismissal ruling. The initial indictment had triggered a massive sell-off in late 2024, wiping out nearly 2.85 lakh crore rupees in market capitalisation for the Adani Group. The DoJ has now moved to dismiss the proceedings with prejudice, which will bring a definitive final close to the legal battle once approved by the judge.
