Adani Group, top officials settle all legal cases in US

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.Adani Enterprises (AEL), the flagship of the Ahmedabad-based Adani Group has paid $275 million (about Rs 2,650 crore at Monday’s exchange rate) to settle a case of apparent violation of Iran-related sanctions by the US, a release from the Office of Foreign Assets Control (OFAC) under the US Treasury Department said.In a separate case, the US Department of Justice dropped criminal charges against Gautam Adani and seven other people, including his nephew Sagar Adani, and the court accepted the move.Last week, the US markets regulator Securities and Exchange Commission (SEC) had also announced its settlement with the group against a payment of $18 million.The settlements in all these came after the Adani group hired a new legal team led by Robert J Giuffra Jr, one of the US President Donald Trump’s personal lawyers, a NYT report said last week. Giuffra is also the co-chairman of the prominent firm Sullivan & Cromwell, the report said.In its release OFAC said that from Nov 2023 to June 2025, AEL had purchased shipments of liquified petroleum gas (LPG) from a Dubai-based trader purporting to supply Omani and Iraqi gas. “Red flags should have put AEL on notice that the LPG actually originated from Iran.”During that time, AEL caused US financial institutions to process 32 dollar-denominated payments aggregating about $192 million for the shipments, the release said.