In a major relief to Gautam and Rajesh Adani, a local court has discharged the industrialists in a case of cheating and criminal conspiracy related to purchase and sale of shares.

The Serious Fraud Investigating Office had, in 2012, filed a charge sheet against twelve accused including the Adani brothers, Adani Exports Limited and Adani Agro Private Limited. According to SFIO, Adani Agro allegedly provided funds and shares to Ketan Parekh entities for running illegal activities in the capital.

The agency also alleged that the promoters off-loaded their share holding when share price was at peak and started purchasing it when the prices went down, to maintain their share holding in the company and earn profit.