Bombay HC Quashes Case Against Adani

Mumbai: The Bombay High Court on Monday discharged Adani Group Chairman Gautam Adani and Managing Director Rajesh Adani from a case of alleged violations of market regulations involving nearly Rs388 crore.

The Serious Fraud Investigation Office (SFIO) in 2012 initiated the case against the Adani Enterprises Limited (AEL) and its promoters Gautam Adani and Rajesh Adani, and filed a chargesheet that accused them of criminal conspiracy and cheating.

In 2019, the two industrialists filed a petition in the HC, seeking to quash a Sessions Court order of the same year refusing to discharge them from the case.

The HC’s single bench of Justice RN Laddha on Monday quashed the sessions court order and discharged the duo from the case.