India’s Parliament faced disruptions for a third consecutive day as opposition parties protested the government’s silence regarding allegations against billionaire Gautam Adani. Adani, a prominent Indian coal magnate, was recently indicted in the U.S. on charges of fraud and bribery.
During the parliamentary session, opposition members raised slogans against the government, accusing Prime Minister Narendra Modi's administration of shielding Adani. The opposition demanded a joint committee to investigate Adani’s various business ventures, spanning agriculture, renewable energy, coal, and infrastructure.
Adani, aged 62 and among Asia’s wealthiest individuals, came under scrutiny after U.S. prosecutors in New York charged him and seven associates with securities fraud, conspiracy, and wire fraud. The charges allege that Adani misled investors in a large-scale solar project in India by concealing bribery facilitation.
In response to the allegations, the Adani Group issued a statement dismissing the charges as baseless and asserting the presumption of innocence until proven guilty. The controversy has led to repercussions for Adani's business interests abroad, with Kenya canceling significant deals for airport modernization and energy projects.
Furthermore, Sri Lanka and Bangladesh are reviewing agreements with the Adani Group. Sri Lanka is reevaluating projects involving wind power development and port infrastructure, while Bangladesh's interim government is reassessing a power supply agreement from an Indian project.
The deadlock between the Indian government and the opposition persists, with Parliament sessions adjourned amid ongoing protests and demands for accountability in the Adani case.
