Gautam Adani indicted in US highlights: 'Aware of allegations,' White House reacts to bribery, fraud charges on Adani

Congress leader Rahul Gandhi today stepped up his attack on Prime Minister Narendra Modi, claiming that the government is protecting Gautam Adani by not letting him undergo any investigation or arrest despite serious charges filed against him in the United States. "As the Leader of Opposition, it is my responsibility to raise this issue. The prime minister is hundred percent protecting this person," said Gandhi, referring to the recent indictment of Adani by US prosecutors over a $250 million bribery scheme.

Gandhi demanded that action be taken immediately, saying, "We demand a JPC, but we want that Adani should be arrested immediately. However, we know and want to show this to the country that Adani will not be arrested because the prime minister is his protector." He blamed the BJP government of allowing Adani's alleged corruption, declaring, "This fellow has taken India's assets through corruption. This fellow supports the BJP. these things are established."

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Gautam Adani and his nephew, Sagar Adani, along with a former chief executive officer of Adani Green Energy Co., Vneet Jaain, were charged in the Eastern District of New York for offering $250 million in bribes to Indian officials for lucrative deals in solar energy. According to US prosecutors, these contracts were misrepresented in order to raise over $3 billion from American financial institutions.

Gandhi emphasized the severity of the allegations, asserting that "now it is pretty clear and well-established in America that Mr Adani has broken both American law and Indian law. He has been indicted in the United States, and I wonder why Mr Adani is still running around a free man in this country." He further claimed that the chairperson of SEBI, Madhabi Puri Buch, was also involved: "Adani must be arrested right now, and his 'protector' Madhabi Puri Buch must be investigated."

This controversy comes at a time when Adani Group stocks saw massive losses, with the combined market valuation erosion on Thursday standing at ₹2.45 lakh crore. The stocks of key group companies in Adani Enterprises, Adani Green Energy, and Adani Ports have declined between 18% and 23%. Gandhi criticized the inaction of the government and said, "We have been raising this again and again. it is a vindication of what we have been saying. The prime minister is protecting Mr Adani and the prime minister is involved in corruption with Mr Adani."

It has again put the Adani Group under the scanners at a time when it was already facing all sorts of pressure from allegations of stock manipulation initiated by Hindenburg Research. The US has issued the arrest warrants for Gautam and Sagar Adani, but the possibility of their extradition remains unknown. Gandhi vowed to continue raising the issue: "As Leader of Opposition, I will raise this issue in Lok Sabha; our demand for JPC stands."

On Andhra Pradesh link in Adani matter, YSR Congress Party Central Office says, "...It is worth mentioning that, the power procurement of 7,000 MW was approved by APERC vide its order dated 11-Nov-2021. After the APERC approval was obtained, the Power Sale Agreement (PSA) was… pic.twitter.com/sOoi47XSVC — ANI (@ANI) November 22, 2024

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LIVE: Press Conference | AICC HQ, New Delhi https://t.co/mHekba8CL4 — Rahul Gandhi (@RahulGandhi) November 21, 2024