The Bombay High Court Today (March 17) removed Gautam Adani and Rajesh Adani from an SFIO case related to Adani Enterprises, overturning a sessions court order. Reports suggest the case involved alleged illegal gains of Rs 388 crore.
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MUMBAI: The Bombay High Court gave relief to industrialists Gautam Adani and Rajesh Adani on Monday by removing their names from a Serious Fraud Investigation Office (SFIO) case linked to Adani Enterprises.
A Bench led by Justice RN Laddha canceled an earlier decision of the sessions court, which had overturned a magistrate’s order.
The magistrate had already cleared Adani Enterprises and the Adanis from the case that accused them of breaking market rules.
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Senior Advocate Amit Desai represented the Adanis in court.
In 2019, Adani Enterprises took the case to the High Court. As a result, they managed to get a stay order that stopped the sessions court ruling from being implemented.
This stay remained in place while the case was being heard.
According to media reports, the case was about an illegal profit of around “Rs 388 crore.”
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