Opposition parties in India have called for a formal investigation into the Adani Group following explosive allegations of bribery, with opposition leader Rahul Gandhi leading the charge to raise the issue in parliament. This move comes after Gautam Adani, the billionaire head of the conglomerate, was indicted in the United States over a $265 million fraud and bribery scheme. The indictment, which also targets his nephew, has thrust the Adani Group into another crisis, barely two years after similar accusations first surfaced.
U.S. prosecutors have issued arrest warrants for the Adani pair, citing their role in a scheme to pay bribes in exchange for lucrative business deals. However, the Adani Group has firmly rejected these allegations, calling them “baseless” and reaffirming its commitment to adhering to all legal norms.
For Indian opposition leaders, the charges are just the latest chapter in a long-running narrative of favoritism they allege exists between Prime Minister Narendra Modi’s government and Adani. They claim that Modi’s ties to Adani go back to the early 2000s, when both were active in Gujarat, a connection that, they argue, has led to preferential treatment for the business tycoon.
Gandhi, who has been a vocal critic of Modi’s links to Adani, suggested that the issue be addressed in parliament next week. The Congress Party president, Mallikarjun Kharge, also threw his weight behind a call for a thorough investigation into the group’s operations, calling for a “comprehensive probe into every aspect” of the conglomerate’s dealings.
The opposition’s concerns are rooted in the aftermath of a 2023 report from Hindenburg Research, which accused the Adani Group of misusing offshore tax havens to bolster its financial position. The company, however, has denied these claims as well.
Sanjay Singh, a lawmaker with the Aam Aadmi Party, further emphasized the gravity of the U.S. charges, urging that all unresolved issues surrounding Adani be probed by an independent agency, with the Supreme Court overseeing the investigation.
While there was no immediate response from the Indian government, a prominent member of Modi’s Bharatiya Janata Party (BJP), Amit Malviya, dismissed the opposition’s calls for a probe as politically motivated. He pointed out that the U.S. charges are just “allegations” and emphasized that the timing of the indictment—coinciding with the upcoming parliamentary session and ahead of the U.S. presidential election—raised “questions,” though he did not elaborate.
As the political storm brews, the future of the Adani Group remains in the balance, with its reputation and ties to the highest echelons of Indian power now under intense scrutiny.
