Adani Group stocks rise as US DoJ drops case in 2026

What moved the stocks on Tuesday

Shares of several Adani Group companies rose in morning trade after reports said the US Department of Justice (DoJ) permanently dropped criminal charges against Gautam Adani and his nephew, Sagar Adani. The development effectively closes the securities and wire fraud case in New York, according to the reports. The rally came after a long period of legal uncertainty that had kept the group’s listed counters volatile since late 2024. In the same news cycle, investors also digested a separate settlement disclosed by Adani Enterprises with the US Treasury Department’s Office of Foreign Assets Control (OFAC). Together, these updates reduced the immediate regulatory overhang referenced in recent coverage around the group.

What the DoJ reportedly decided

Reports said federal prosecutors dropped all criminal charges against Gautam Adani and Sagar Adani. The filing was described as a dismissal “with prejudice”, meaning the case cannot be reopened. The prosecutors were quoted in court filings as saying the department reviewed the matter and decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants. The case was being handled by the United States Attorney’s Office for the Eastern District of New York, as per the reports. The closure brings to an end a closely watched matter that had drawn attention to the group’s fundraising and disclosures in relation to solar power contracts in India.

What the original allegations were

The case dates back to November 2024, when US prosecutors charged Gautam Adani and other executives over an alleged bribery scheme tied to renewable energy projects. The alleged bribe amounts cited in reports included about $150 million and $165 million, linked to solar power projects and contracts in India. Prosecutors had earlier alleged the Adani Group concealed bribery payments related to solar power contracts in India while raising funds from US investors. The allegations also included claims that investors in the United States were misled about the group’s anti-corruption practices. The Adani Group denied the allegations when they surfaced.

Stock moves: who gained and by how much

The relief rally was broad-based but uneven, with some counters rising sharply and others trading almost flat with a positive bias. Different reports cited slightly different intraday prints, reflecting moves at different times during the session.

OFAC settlement disclosed by Adani Enterprises

Separately, Adani Enterprises disclosed a settlement agreement with OFAC in an exchange filing dated 18 May 2026. The company said it agreed to pay $175 million under a settlement agreement executed on 14 May 2026. Adani Enterprises said the amount was reduced from a maximum statutory penalty of about $184.2 million. The company also clarified that the settlement was reached without admitting the allegations made by OFAC. According to the disclosure, the matter relates to LPG shipments purchased between November 2023 and June 2025 from a Dubai-based trader and its affiliates.

How other US proceedings were resolved recently

Reports also noted that several major US regulatory and legal proceedings involving the Adani Group were concluded over the past few days. Last week, the US Securities and Exchange Commission (SEC) resolved civil allegations against Gautam Adani and Sagar Adani linked to investor disclosures related to solar energy projects in India. Court filings cited in the coverage said Gautam Adani agreed to pay $1 million and Sagar Adani agreed to pay $12 million, without admitting or denying the allegations. The combination of the SEC civil resolution and the DoJ criminal case dismissal was presented as a major reduction in legal uncertainty for the group.

People named in the proceedings

Individuals named in the proceedings, as cited in the reports, included Gautam Adani, Sagar Adani, Vneet Jaain, Ranjit Gupta, Cyril Cabanes, Saurabh Agarwal, Deepak Malhotra and Rupesh Agarwal. The reports did not provide additional role-by-role detail for each individual in the cited excerpt, but the naming underscores how widely the 2024 case had spread across senior ranks and related entities. The earlier allegations and subsequent updates increased scrutiny of the conglomerate’s global operations and compliance systems.

Timeline of key US actions mentioned

The story spans allegations first filed in late 2024 and settlements disclosed in May 2026.

Market impact: what changed for investors

The immediate market impact was visible in morning gains across Adani Green Energy, Adani Total Gas, and Adani Enterprises, with several other group counters trading marginally higher. Reports framed the DoJ decision as ending a 19-month stretch that had put pressure on expansion plans, complicated fundraising efforts, and resulted in the loss of certain contracts. At the same time, the OFAC settlement introduces a clear monetary cost, with a disclosed payment of $175 million, though the company highlighted that the sum was reduced from a stated maximum statutory penalty of about $184.2 million. Taken together, the updates shift the focus from open-ended proceedings to known outcomes and quantified liabilities where applicable.

Why the story matters: compliance, disclosures, and access to capital

The US proceedings focused on allegations around disclosures to US investors and conduct linked to solar power contracts in India, which placed governance and compliance at the centre of investor attention. The DoJ’s reported closure of the criminal case removes one of the most serious legal uncertainties referenced in the coverage. The SEC settlement amounts, while relatively small compared with the alleged bribery figures cited in reports, still underscore that US regulators pursued disclosure-related claims. The OFAC settlement points to sanctions-compliance risks in global trading and supply chains, with the matter tied to LPG shipments purchased via a Dubai-based trader between late 2023 and mid-2025.

What to watch next

The reports indicate that the DoJ matter has been dismissed “with prejudice”, suggesting finality on that specific criminal case. Investors will also track how the group reflects the OFAC settlement in disclosures and compliance commentary after the 18 May 2026 exchange filing. With multiple US actions cited as recently concluded, near-term attention is likely to remain on any further regulatory filings, court orders, or company statements that clarify remaining exposures, if any, across jurisdictions.