In a major legal victory for the Indian conglomerate, the US Department of Justice has permanently withdrawn all criminal charges against billionaire Gautam Adani and his nephew, Sagar Adani.

The move officially resolves the highly publicized securities and wire fraud case originally filed in New York.

Federal prosecutors concluded that the allegations could not be proven.

Over the last several days, multiple regulatory and legal investigations into the Adani Group by US authorities have also been closed.

According to filings released last week by the US Securities and Exchange Commission (SEC), Gautam Adani agreed to pay $6 million and Sagar Adani agreed to pay $12 million to settle civil claims without admitting or denying any wrongdoing.

Following the SEC settlement, the US Treasury Department’s Office of Foreign Assets Control (OFAC) settled its separate inquiry into the Adani Group regarding allegations of violating US sanctions on Iranian LPG imports.

The Indian industrial giant agreed to pay $275 million, cooperating fully with investigators and proactively disclosing relevant information throughout the process.

With these settlements finalized, federal prosecutors for the US District Court for the Eastern District of New York moved to dismiss all remaining criminal counts.

In a formal petition to the court, the Department of Justice requested that the indictment against the Adanis be dismissed with prejudice, which the presiding judge subsequently granted, effectively ending all US legal proceedings against them.