The Bombay High Court on Monday ruled in favor of industrialists Gautam Adani and Rajesh Adani, discharging them from a Serious Fraud Investigation Office case concerning Adani Enterprises.
A Bench led by Justice RN Laddha overturned a sessions court’s order that had previously reversed a magistrate’s decision to clear the Adanis and their company of alleged violations of market regulations.
Legal Representation
The Adanis were represented by Senior Advocates Amit Desai and Vikram Nankani, along with a legal team from Nankani and Associates, including Advocates Ishwar Nankani, Prithwiraj Choudhari, Gopalkrishna Shenoy, Rhea Sinkar, and Prajakta Sarwadekar.
On behalf of the state, Advocate Manisha R Tidke appeared, while the Central government was represented by Additional Solicitor General AC Singh and Advocates DP Singh, Adarsh Vyas, Pradeep Yadav, Divya Gontia, and Ruchita Verma.
Case Background
Adani Enterprises had approached the Bombay High Court in 2019, successfully obtaining a stay order on the sessions court ruling. This stay remained in effect throughout the legal proceedings.
According to media reports, the case involved allegations of an unlawful gain amounting to approximately ₹388 crore. With this ruling, the High Court has now brought an end to the legal battle for Adani Enterprises in this matter.
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