India, Aug. 11 -- A court in the United States on Monday dropped all criminal charges against billionaire and businessman Gautam Adani, his nephew Sagar Adani and their associate Vneet Jaain.

In its judgement, Judge Nicholas Garaufis of the District Court for the Eastern District of New York dismissed criminal charges against the Adanis related to securities and wire fraud with prejudice.

The district court also finalised a settlement between the Adanis and the US Securities and Exchange Commission, which will see the Adanis pay the US government $18 million without admitting guilt and formally settle the civil securities fraud charges against them.

Reacting to the legal relief, Gautam Adani took to the social media platform X and welc...