
Bombay High Court discharges Gautam Adani, Rajesh Adani in case of market regulations 'violation'
The Hindu
Bombay High Court discharges Adani Group chairman Gautam Adani and MD Rajesh Adani from ₹388 crore market regulation violation case.
The Bombay High Court on Monday (March 17, 2025) discharged Adani Group chairman Gautam Adani and Managing Director Rajesh Adani from a case of alleged violations of market regulations involving nearly ₹388 crore.
The Serious Fraud Investigation Office (SFIO) in 2012 initiated the case against the Adani Enterprises Limited (AEL) and its promoters Gautam Adani and Rajesh Adani, and filed a charge sheet that accused them of criminal conspiracy and cheating.
In 2019, the two industrialists filed a petition in the High Court, seeking to quash a sessions court order of the same year refusing to discharge them from the case. The HC's single Bench of Justice R.N. Laddha on Monday (March 17, 2025) quashed the sessions court order and discharged the duo from the case. A copy of the detailed order would be available later.
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In December 2019, the high court stayed the sessions court order and it was extended from time-to-time. In 2012, the SFIO filed a charge sheet against 12 persons, including the Adanis, accusing them of criminal conspiracy and cheating.
But a magistrate's court in Mumbai discharged them from the case in May 2014. The SFIO challenged the discharge order. A sessions court in November 2019 set aside the magistrate's order and noted that the SFIO had made out a case of unlawful gain by the Adani Group.
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