Opposition parties condemn PM Narendra Modi and demand a JPC probe after the US SEC accused Gautam Adani of bribery.
The opposition stepped up its criticism of the Center on Thursday over its purported ties to the Adani Group, while billionaire Gautam Adani is being charged in the United States for suspected bribery and fraud.
In the United States, Gautam Adani is accused of bribing Indian officials with $250 million between 2020 and 2024 in order to obtain advantageous conditions for solar energy contracts. Prosecutors claimed that Adani’s group may have made over $25 billion from the scam.
Congress demands JPC probe
The Congress responded to the accusations by requesting that a Joint Parliamentary Committee (JPC) look into claims of fraud involving Adani’s company. In addition, the party called for the nomination of a “new and credible” Sebi chief to look into Adani’s financial transactions and adherence to securities regulations.
The US Securities and Exchange Commission’s (SEC) actions, according to Congress leader Jairam Ramesh, show how Indian institutions failed to look into the group. Ramesh said on X, “The indictment validates Congress’s demand for a JPC into the Modani scams since January 2023.”
He said Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series has shown the businessman’s alleged fraud and his connections to Prime Minister Narendra Modi, accusing the PM of protecting Adani.
In another article, the Congress leader claimed that the need for a foreign jurisdiction to thoroughly probe Adani only serves to highlight how the BJP has taken control of Indian institutions and how avaricious and power-hungry leaders have destroyed decades of institutional growth.
“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh said.
Other Oppn leaders join attack
Other leaders of the opposition joined the assault. Saket Gokhale, a Congress MP from Trinamool, questioned the BJP’s role in Adani’s business operations and called for an impartial legal investigation.
Sanjay Singh, the head of the Aam Aadmi Party, charged that Prime Minister Modi permitted Adani to damage India’s standing internationally.
Adani stocks latest updates
Markets were rocked by the accusations, and Adani Group stocks fell sharply. Pre-open trading saw a 20% decline in Adani Enterprises and a 7%–18% decline in shares of Adani Ports, Adani Green, Adani Power, and other companies.
