Adani to Submit Affidavit Following DOJ Motion to Dismiss
Gautam Adani is set to file an affidavit in a US court this week, responding to the dropped indictment in a securities case. The filing was ordered after the US Department of Justice (DOJ) informed the court that it sought dismissal solely because the case was legally indefensible, according to a report by DH Online on July 9, 2026.
Background of the Case
The indictment, originally brought against Adani and several associates, alleged securities fraud related to statements made about Adani Group companies. However, the DOJ's recent motion to dismiss marked a significant turn, with prosecutors stating the charges could not be sustained under applicable law. The court then directed Adani to provide a sworn affidavit detailing his position.
This development comes amid ongoing scrutiny of the Adani Group following the 2023 Hindenburg Research report, which accused the conglomerate of stock manipulation and accounting fraud—charges the group has consistently denied. The US case was seen as a key legal battle for Adani, who has maintained his innocence throughout.
Impact and Next Steps
Legal experts note that the DOJ's admission of legal indefensibility strengthens Adani's stance, potentially clearing a major hurdle. The affidavit is expected to formally confirm his cooperation with the court and reiterate his denial of wrongdoing. A hearing is anticipated later this month to finalize the dismissal.
The Adani Group has not commented on the filing but previously welcomed the DOJ's move as vindication. This case had drawn international attention, and its dismissal could boost investor confidence in the conglomerate, which has faced market volatility since the Hindenburg allegations.
