US verdict has strengthened faith in rule of law, says Adani

FILE PHOTO: Gautam Adani

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A day after the favourable US verdict, Gautam Adani, Chairman, Adani Group, said the entire episode had strengthened his conviction that enduring confidence is earned by honouring commitments, standing by one’s values and doing the right thing, especially in difficult times.“The entire experience has reinforced the faith in the rule of law and the importance of honouring commitments through periods of adversity,” he said in a statement to employees.Adani reflected on the Hindenburg Research allegations of 2023 and the subsequent US Justice Department case, days after a federal judge in New York dismissed the criminal charges against him and his nephew Sagar Adani.Recalling the Group’s decision to withdraw its ₹20,000 crore follow-on public offering after Hindenburg Research published allegations of stock manipulation, improper use of offshore tax havens and excessive debt in 2023, he said “Trust is greater than any legal right”. The group denied all Hindenburg allegations.The US case followed in November 2024, when federal prosecutors accused Adani and others of agreeing to pay about $265 million in bribes to Indian government officials to secure solar-power contracts and of misleading US investors.Adani and the group denied wrongdoing. On August 10, US District Judge Nicholas Garaufis dismissed the criminal charges after the Justice Department sought to withdraw the case.“While public attention remained fixed on the legal proceedings, employees, workers, suppliers, contractors, vendors and partners quietly continued building businesses, serving customers and delivering on their commitments,” he said.“Their unwavering dedication helped turn one of the Group’s most challenging chapters into one of its strongest periods of growth.”Adani shifted the focus from the legal battle to the country’s longer-term development, urging the more than three lakh employees and partners of the ‘Adani Parivar’ to consider what legacy their generation would leave behind.Published on August 12, 2026