The US Department of Justice has permanently dismissed criminal fraud charges against Gautam and Sagar Adani. This decision, following a payment without admitting guilt, is expected to boost Adani Group's shares and facilitate their expansion into the US market. Prosecutors cited a lack of evidence as the reason for withdrawing the case.

The US Justice Department is close to dropping criminal fraud charges against Mr Adani.

Prosecutors said they would not “devote further resources” to the case against the Indian billionaire.

MUMBAI: The legal cases that the Adani Group and its various top officials, including Gautam Adani, the group’s chairman, were facing in the US came to an end on Monday.