‘US govt settles ₹2,500 crore bribery case against Adani Group’:Rahul Gandhi alleges PM Modi’s role in case settlement; Adani stocks jump

Adani Group’s Chairman Gautam Adani may get major relief from the US. According to reports, the US Securities and Exchange Commission ( an agency of the American government) has settled bribery and fraud case worth $265 million (approximately ₹2,500 crore) against him, reported Reuters citing court records. According to the Reuter’s report, this legal case now stands subject to US court approval. Adani Group has been facing legal complications for about one and a half years. Adani Group stocks jumped on bourses: Following the development, Adani Group stocks jumped on the bourses: Understand the entire matter in 10 questions and what will happen next 1. What is the main news about Gautam Adani in America? Answer: The US Securities and Exchange Commission ( an agency of the American government) has settled bribery and fraud case worth $265 million (approximately ₹2,500 crore) against Gautam Adani and his associates. 2. What was this entire matter actually about? Answer: In November 2024, federal prosecutors in New York had charged Gautam Adani and his nephew Sagar Adani, along with several officials, alleging that they conspired to pay bribes of approximately ₹2,500 crore to Indian government officials to secure contracts for solar power projects in India. 3. How the case was reportedly settled? According to media reports, Court documents show that Gautam Adani agreed to pay civil penalties of $6 million (₹57.45 crore), while his nephew Sagar Adani, agreed to pay $12 million (114.9 crore). The proposed settlement doesn’t include an admission of guilt, said news reports. 4. Whose other names were included in this case? Answer: This included Gautam Adani, along with Sagar Adani, former CEO of Adani Green Energy Vineet Jain, and former officials of Azure Power Global Ranjit Gupta and Rupesh Agarwal. Additionally, the name of Cyril Cabanes, associated with Canadian investor CDPQ, was also included. 5. What were the allegations against Adani regarding fundraising? Answer: Prosecutors alleged that Adani and his associates raised more than $3 billion (approximately ₹29,000 crore) in funding through loans and bonds from international investors and banks by concealing the alleged bribery. 6. What were code names like ‘Numero Uno’ and ‘The Big Man’? Answer: In the chargesheet filed in the American court, it was claimed that the conspirators used secret code names like ‘Numero Uno’ (number one in Italian) and ‘The Big Man’ to refer to Gautam Adani during their conversations. 7. Was Gautam Adani ever taken into custody by American police? Answer: No, although American authorities had obtained arrest warrants against Gautam and Sagar Adani, they were never in American custody. At that time, it was said that Gautam Adani was in India. 8. What benefit will the Adani Group get from this case being closed? Answer: This will improve the group’s international business and ability to raise foreign funding. The questions that were being raised about the group’s credibility due to these allegations for the past one and a half years will be largely eliminated. 9. Did the Adani Group ever accept these allegations? Answer: From the beginning, the Adani Group called these allegations baseless. The group’s stance has always been that they have complied with all international laws and transparency regulations. 10. What is likely to happen next? Answer: This will clear the path for Adani Group to become active again in American markets. Built Adani empire after leaving school at age of 16 Gautam Adani started his career with commodity trading in 1988 in Gujarat after leaving school at just 16 years of age. Over the past few decades, he has expanded his group into sectors like ports, airports, mining, power generation, transmission and logistics. Today Adani Group is one of India’s largest infrastructure empires. The news of the American case ending is being considered a major victory for the group at the global level.