US court drops graft case against Gautam Adani

A few months ago, the US department of justice (DoJ) had moved court to dismiss the case.A US federal judge in New York dismissed on Monday a nearly two-year-old criminal case alleging bribery and fraud against Indian billionaire Gautam Adani and seven others.Since the charges were brought in Nov 2024, the Adani Group has denied the allegations, calling them baseless and maintaining that the companies and individuals had acted in accordance with applicable laws and regulatory requirements.The US department of justice (DoJ) gave six “overlapping bases” seeking dismissal of the case — including this was a foreign case; India did not find any “actionable misconduct”; “not a single penny was lost” on securities issued; and that there were “extraordinary proof problems”.The DoJ had started inve