In a significant development, representatives of Indian billionaire Gautam Adani have reportedly engaged with officials from U.S. President Donald Trump's administration to seek the dismissal of criminal charges in an overseas bribery investigation. The case involves allegations that Adani and his nephew, Sagar Adani, paid bribes to secure power contracts in India and misled U.S. investors during a $750 million Adani Green bond sale.

The discussions have gained momentum in recent weeks and could lead to a resolution within a month if progress continues. Adani aides are arguing that the prosecution does not align with Trump's policy priorities. Neither the Adani Group nor U.S. agencies such as the Justice Department and the White House have commented on the report.

Following the news, shares of Adani Group companies rose between 0.4% and 5.3%, led by Adani Total Gas, while the broader market increased by 0.5%. Despite a recent internal review by Adani Green claiming no non-compliance, the indictment has led to a $13 billion loss in market value for Adani Group's listed entities.

In a related development, U.S. President Donald Trump signed an executive order directing the Department of Justice to pause prosecutions under the Foreign Corrupt Practices Act (FCPA), a nearly 50-year-old anti-bribery law that has been central to allegations against the Adani Group. This move is seen as a potential relief for the conglomerate amidst the ongoing legal scrutiny.

The Adani Group has denied the allegations, describing them as "baseless" and vowing to seek "all possible legal recourse." The outcome of these discussions and policy changes could have significant implications for the group's global operations and India's renewable energy ambitions.