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What TV doesn't, print can't; we deliver.
NEW DELHI: Leader of Opposition Rahul Gandhi, while addressing a press conference on the Adani US bribe row, said, “Start investigating with the opposition, the ruling party, start anywhere, but start the investigation and put Adani behind bars.”
This remark follows charges by U.S. prosecutors accusing Adani, his nephew Sagar Adani, and others of paying over $250 million in bribes between 2020 and 2024 to secure favourable solar energy contracts, yielding profits estimated at over $2 billion.
In his address at Congress headquarters, Rahul Gandhi accused PM Modi of shielding industrialist Gautam Adani. He said, “It’s clear that Adani has violated both American and Indian laws. Despite this, he is roaming freely while leaders like the Delhi Chief Minister and Jharkhand Chief Minister have been arrested. Why? Because Prime Minister Narendra Modi is protecting him.”
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He also alleged that the Securities and Exchange Board of India (SEBI), led by Chairperson Madhabi Puri Buch, has failed to act on allegations of wrongdoing by Adani. Gandhi vowed to continue exposing those involved in what he termed a “massive corruption scandal.”
The BJP has countered this by highlighting that the alleged bribery took place in states governed by opposition parties, such as Tamil Nadu (DMK), Andhra Pradesh (YSRCP), Chhattisgarh (Congress), and Odisha (BJD). BJP leader Amit Malviya also alleged that the payments were made to state distribution companies unwilling to purchase costly power, with Andhra Pradesh receiving the largest bribe.
When asked about reviewing Adani’s projects in opposition-ruled states, Gandhi said, “Wherever there is corruption, there should be an investigation. But it must begin with Adani. Until he is arrested, no probe will seem credible.”
The Adani Group, however, has denied any wrongdoing. In response to the allegations, the group stated it was “not aware” of any investigation by U.S. authorities. Past allegations of fraud and stock manipulation, notably by short-seller Hindenburg Research, had previously led to a significant decline in the group’s market value but remained unproven. In light of the new charges, Adani Group stocks, including Adani Green Energy and Adani Power, have plummeted, with the group pulling a $600 million bond offering.
