Gautam Adani Indictment Highlights: Adani stocks crash nearly 25%, Group denies US authorities allegations of bribery

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The BJP on Thursday targeted the Congress over its attack on the central government after US prosecutors charged industrialist Gautam Advani with bribery and fraud, saying all the states mentioned in the indictment were at that time ruled by opposition parties.

BJP’s IT department head Amit Malviya also questioned the timing of the development, as it came just before the start of Parliament session and Donald Trump’s impending presidency.

This raises several questions, he said. “That the Congress is willing to be a prop in the hands of George Soros and his cabal speaks volumes,” Malviya said on investigation into the various “Modani scams”.

Citing from the US federal prosecutors’s indictment, Malviya said the states where government officials were paid bribes allegedly by the Adani Group were Odisha, Tamil Nadu, Chhattisgarh and Andhra Pradesh between July 2021 and February 2022.

He told Ramesh, “All the states mentioned here were Opposition-ruled during that time. So, before you pontificate, answer on the bribes the Congress and its allies accepted,” he said.

While Odisha and Andhra Pradesh were then ruled by the BJD and the YSR Congress, two regional parties unaffiliated to either the ruling or the opposition alliance at that time, the Congress ally DMK was and remains in power in Tamil Nadu.The Congress was in power in Chhattisgarh.

Taking a swipe at Ramesh, he said it is always good to read before one reacts and added that the US document cited by the senior Congress leader said the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.

An Indian court, the BJP leader said, can similarly on legitimate grounds accuse American firms of bribing US government officials to deny access to Indian markets.

“Should we then allow law to take its course and the concerned corporate to defend or plant ourselves in domestic politics of a foreign country,” he said, asking the Congress not to get needlessly excited.

The Congress, especially the Leader of Opposition in Lok Sabha Rahul Gandhi, has constantly alleged proximity between the government led by Prime Minister Narendra Modi and Adani, claiming that the port-to-energy conglomerate has received undue favors from the BJP dispensation.

Adani has dismissed such suggestions. The BJP, too, has denied the allegations and noted that the Adani Group has invested heavily in many Opposition-ruled states as well.

Adani, his nephew Sagar Adani and some other group officials have been charged by federal US prosecutors for paying over USD 250 millions in bribe to Indian officials in exchange for favorable terms for solar power contracts.

US prosecutors charged Adani, 62, his nephew Sagar and other defendants for paying over USD 250 million in bribes between 2020 and 2024 to Indian government officials to win solar energy contracts on terms that could potentially bring in more than USD 2 billion in profit.

The Adani group did not immediately respond to requests for comments.

PTI input