NEW DELHI (AP) – Hundreds of supporters of India’s main opposition party protested yesterday against billionaire Gautam Adani, who was recently indicted in the United States (US) for alleged fraud and bribery, and accused the government of protecting the Indian coal magnate whose companies’ shares have plunged since the charges last week.
Activists belonging to the Congress party demonstrated near Parliament in New Delhi to demand the immediate arrest of Adani Several were detained by police.
Also yesterday, opposition parties chanted “Adani” over and over as Parliament opened.
They called for a joint committee to investigate his companies, which include agriculture, renewable energy, coal and infrastructure. But the parliamentary session was adjourned over the disruptions.
Adani, 62, one of Asia’s richest men, was thrust into the spotlight last week when US prosecutors in New York charged him and seven of his associates with securities fraud and conspiracy to commit securities and wire fraud, alleging that Adani duped investors in a massive solar project in India by concealing that it was being facilitated by bribes.
The indictment outlines an alleged scheme to pay about USD265 million in bribes to government officials in India. The government has not officially commented on the charges, which the Adani group has denied as baseless.
On Saturday, the group’s chief finance officer said the indictment was linked to one contract of Adani Green, its renewable energy arm, that comprised 10 per cent of its business, adding that none of the group’s other companies was accused of wrongdoing.
