The United States Securities and Exchange Commission (SEC) settled a civil lawsuit against Indian billionaire Gautam Adani for bribing Indian officials and lying to US investors, according to court documents published Thursday. The settlement is subject to court approval.

International media reported that the Department of Justice was also close to dropping related criminal charges of fraud against Adani.

Court documents show that Gautam Adani agreed to pay civil penalties of $6 million (€5.2 million), while his nephew Sagar Adani, another leader at Adani Green Energy, agreed to pay $12 million.…