US prosecutors have indicted Gautam Adani, his nephew Sagar Adani, and others for allegedly orchestrating a $265 million (₹2,000 crore) bribery scheme to secure solar power contracts in India. Charges include conspiracy to violate the Foreign Corruption Prevention Act (FCPA), securities fraud, and obstruction of justice. Arrest warrants have been issued for Gautam and Sagar Adani, with US authorities seeking foreign law enforcement assistance.
The indictment alleges that ₹1,750 crore in bribes were paid, with Andhra Pradesh receiving the largest share, following a 2021 meeting between Gautam Adani and then CM Jagan Mohan Reddy. Bribes allegedly influenced state agreements with Solar Energy Corporation of India (SECI) for 7,000 MW of solar power capacity. The SEC accused Adani of misleading US investors by denying involvement in bribery.
Congress leader Rahul Gandhi accused Prime Minister Narendra Modi of protecting Adani, saying, “The prime minister is 100% protecting this person.” Gandhi demanded Adani’s immediate arrest and a Joint Parliamentary Committee (JPC) probe, alleging Adani obtained India’s assets through corruption. He also called for an investigation into SEBI chairperson Madhabi Puri Buch, claiming her complicity.
Gandhi highlighted the gravity of the allegations, stating, “It is now established in America that Mr Adani has broken both American and Indian law.” He criticised the BJP government for inaction, linking it to corruption. This indictment marks Adani’s second major controversy in 22 months, following Hindenburg Research’s 2023 allegations of stock manipulation.
The controversy has significantly impacted Adani Group’s stock valuation, with ₹2.45 lakh crore wiped out on Thursday. Key companies, including Adani Enterprises and Adani Green Energy, saw declines of 18-23%. Gandhi termed the situation a “vindication” of his allegations against the Modi government and vowed to raise the issue in the Lok Sabha.
The indictment has heightened scrutiny on Adani, while extradition and further legal actions remain uncertain. Gandhi reaffirmed his commitment to pursuing accountability, reiterating the Opposition’s demand for a JPC.
Public end loser: Rahul on bribery, fraud charges against Adani Group
After calling for the arrest of industrialist Gautam Adani following his indictment by the United States for alleged bribery and fraud, Congress leader Rahul Gandhi asked people on Friday to understand the “dangerous game” of corruption, in which the public is the end loser. “This is a very dangerous game of corruption…. Adani and Modiji both protect each other. But who is paying the price for this? You, the common Indian,” he posted on X.
Gandhi has been accusing the Adani Group of corruption and creating monopolies in various sectors allegedly with the help of the Bharatiya Janata Party (BJP) government led by Prime Minister Narendra Modi. The Adani Group has, however, denied all charges and claimed that it has not violated any law.
J&K Youth Congress stages protest in Jammu demanding probe against Adani
The Jammu and Kashmir Pradesh Youth Congress (JKPYC) on Friday staged a protest accusing the BJP-led NDA government of shielding billionaire industrialist Gautam Adani, whom the US Department of Justice has accused of being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. Led by JKPYC General Secretary Anirudh Sawhney, the protesters took out a march demanding an independent probe into the charges levelled against the Adani Group chairman.