NEW DELHI — For the third consecutive day, India’s Parliament faced disruptions on Thursday as opposition parties protested the government’s lack of response regarding serious allegations against billionaire Gautam Adani, who was recently indicted in the United States for alleged fraud and engaging in bribery schemes.
As Speaker Om Birla began the session in the powerful lower house of Parliament, opposition members erupted from their seats and gathered in the aisles, loudly expressing their dissent with anti-government chants. The Congress party, along with other opposition groups, accused Prime Minister Narendra Modi’s administration of shielding Adani, a prominent figure in India’s coal industry.
Birla commented on the situation, expressing his disapproval of the protest’s nature and proceeded to adjourn the session due to the ongoing disruptions. Although the session resumed later, it was again adjourned for the day amid the unresolved standoff between the ruling party and the opposition.
Similar scenes unfolded in the upper house, where proceedings were also halted. The Congress party maintained its firm position, demanding a joint committee be established to investigate the Adani Group’s various business ventures, which encompass agriculture, renewable energy, coal, and infrastructure.
Recently thrust into the spotlight, Adani, who is one of the wealthiest individuals in Asia at 62 years old, was charged last week by U.S. prosecutors in New York alongside seven associates. They face accusations related to securities fraud and conspiracy to defraud investors in a significant solar project in India by hiding the involvement of bribery. The indictment purportedly includes claims of a scheme involving approximately $265 million paid in bribes to Indian officials.
In response to the allegations, the Adani Group issued a statement declaring that the claims from the U.S. Department of Justice and the U.S. Securities and Exchange Commission against its directors are unfounded. The statement emphasized that the charges are merely allegations, and the accused parties are presumed innocent until proven guilty, asserting that all possible legal actions will be pursued.
Without an official response from the Indian government, Amit Malviya, the IT chief of the ruling Bharatiya Janata Party, indicated via a post on social media that the U.S. allegations are just that—allegations—underscoring the presumption of innocence. Critics interpreted his statement as an attempt by the Modi government to endorse the Adani Group amidst the unfolding controversy.
The fallout from this situation has already impacted Adani’s international interests, as Kenya’s president has canceled several multimillion-dollar contracts with the Adani Group related to airport modernization and energy initiatives.
Additionally, both Sri Lanka and Bangladesh are now evaluating their agreements with the conglomerate. A spokesperson for the Sri Lankan government announced earlier this week that they are reconsidering projects associated with the Adani Group in the country. Under a long-term agreement, the group was set to invest over $440 million to establish 484 megawatts of wind energy in northeastern Sri Lanka and work on a terminal at the Colombo port. “We are taking this matter seriously. Our foreign and finance ministries are reviewing the situation and decisions will be made based on their findings,” spokesperson Nalinda Jayatissa stated.
Bangladesh’s interim government likewise is assessing its power supply agreement with the Adani Group regarding a project that provides electricity from India.