I have imported my project from ADT and after going to \"Module Settings\" and editing dependencies things are working fine. My \"build.gradle\" has dependencies block empty, So
Probably not, since a new project on Android Studio does not generate a project.properties
file.
Presumably in Android Studio that is not where dependencies are coming from, but I can't be too sure.
Android Studio's default project support is done through Gradle, unless you have an Android project coming from IntelliJ which you can open with Studio as well.
If you use Gradle, project.properties is completely ignored. You should not use the Module Settings to add dependencies now as it only changes the IDE but not the Gradle based build system (we'll fix this in later versions).
If you have missing dependencies in your build.gradle, it may be due to a bug in the export from ADT. We have fixes for this coming soon.