Adani lawyers ask US judge to dismiss criminal bribery case

Lawyers for Gautam Adani asked a U.S. judge to dismiss the criminal case against the Indian billionaire, arguing the charges fell outside American jurisdiction and were unprovable. The Justice Department had already said it would no longer pursue the case.

Adani was accused of bribery and misleading U.S. investors. The defense filing said the government's own decision to walk away confirmed the charges lacked merit. The judge has not yet ruled on the motion.

Separately, Adani's companies settled civil charges with the SEC and the Treasury Department over sanctions violations. Those settlements did not involve the bribery allegations.

The criminal case had hung over Adani Group stocks since the indictment was unsealed last year. Shares in Adani Enterprises and Adani Green Energy have recovered some ground but remain below their pre-indictment highs.

The dismissal request is the latest turn in a legal saga that began when U.S. prosecutors accused Adani and seven other executives of paying bribes to Indian officials to secure solar energy contracts. Adani has denied the allegations.

The Justice Department's decision to drop the case came after a review of the evidence, people familiar with the matter said. Prosecutors concluded they could not prove the charges beyond a reasonable doubt.

Adani's lawyers said the government's reversal was a complete vindication. They asked the judge to dismiss the case with prejudice, meaning it could not be refiled.