Indian billionaire Gautam Adani has agreed to pay a multi-million-dollar civil penalty in a United States (US) court case linked to corruption allegations, according to a company filing released on Friday.
The settlement is connected to a November 2024 indictment filed in New York, which accused Adani and several associates of misleading international investors as part of an alleged bribery scheme tied to solar energy contracts in India.
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US authorities had alleged that the case involved an estimated $250 million scheme aimed at bribing Indian officials to secure lucrative solar power supply deals.
Gautam Adani agrees to $18 million penalty in U.S. bribery casehttps://t.co/iJrUB4PyPb
— The Hindu (@the_hindu) May 15, 2026
According to a letter submitted by Adani Green Energy to the Mumbai stock exchange, Gautam Adani and his nephew Sagar Adani agreed to pay a combined civil penalty of $18 million. The filing stated that the payment was being made “without admitting or denying the allegations” outlined in the civil complaint.
The company also clarified that Adani Green Energy itself is not a party to the legal proceedings and that no charges have been brought against the company.
The development comes amid reports that US prosecutors may be preparing to drop criminal charges against Adani. Multiple reports suggested the move followed changes to Adani’s legal representation, including the appointment of a team led by Robert Giuffra, a lawyer who has also represented US President Donald Trump.
Adani, chairman of the Adani Group, oversees a vast business empire spanning sectors including ports, airports, energy, cement and media.
In recent years, the conglomerate has faced heightened scrutiny following allegations related to corporate governance, financial transparency and stock market practices.
A close ally of Indian Prime Minister Narendra Modi, Adani rose from modest beginnings in Gujarat before building one of India’s largest conglomerates.
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He left school at a young age, moved to Mumbai to work in the diamond trade, and later founded what became the Adani Group in 1988, initially focusing on commodities and exports.
His business empire expanded rapidly after securing a major port development contract in Gujarat in the mid-1990s, which proved to be a turning point in his commercial rise.