Congress MPs have demanded a discussion in Parliament regarding allegations against the Adani Group, as both houses convene for the third day of the winter session. Congress leaders Manickam Tagore, Randeep Singh Surjewala, and Manish Tewari submitted adjournment and suspension notices to address the issue.
In his adjournment notice, Congress MP Manickam Tagore raised concerns about the US indictment involving alleged bribery and securities fraud linked to Adani Group founder Gautam Adani. He highlighted the claims of $265 million in bribes for solar power deals and accused the Modi government of maintaining silence on the matter.
“The recent US indictment of Gautam Adani, involving over $265 million in bribes for solar power deals and securities fraud, casts a dark shadow over the Adani Group. The silence of the Modi government on this matter raises concerns about India’s integrity and global standing. PM Modi must answer questions regarding his friendship with Adani,” stated Tagore’s notice.
Tagore also alleged that the Andhra Pradesh government might terminate its solar power deal with SECI due to claims of ₹21,750 crore in bribes being paid to the state government. He called for a Central Bureau of Investigation (CBI) inquiry.
Demand for Transparency
Congress MP Randeep Singh Surjewala submitted a motion under Rule 267 in the Rajya Sabha to suspend all scheduled business for an immediate discussion on the matter. He underscored the need for a Joint Parliamentary Committee (JPC) to investigate systemic corruption and regulatory lapses linked to the Adani Group.
“This matter necessitates the immediate consultation of a Joint Parliamentary Committee (JPC) to investigate the implications of these allegations for governance, public accountability, and the credibility of India’s democratic institutions,” Surjewala stated.
Manish Tewari, another Congress MP, called for a discussion in the Lok Sabha on how these allegations impact India’s global reputation as a business destination.
Adani Group Denies Allegations
The Adani Group has refuted the allegations of bribery and corruption. In a filing with the stock exchanges, Adani Green Energy Ltd. (AGEL) labeled media reports citing US charges as “incorrect.”
“Media articles state that certain of our directors, namely Gautam Adani, Sagar Adani, and Vneet Jaain, have been charged with violations of the US Foreign Corrupt Practices Act (FCPA) in the indictment. Such statements are incorrect,” AGEL clarified in a statement.
The group noted that its executives are only mentioned in charges of securities fraud and wire fraud conspiracy. The company further stated that no evidence has been presented linking bribes paid by Adani executives to Indian government officials.
Broader Implications
The Adani Group, one of India’s largest infrastructure conglomerates, has faced significant financial impact since the US indictment, with a reported loss of nearly $55 billion in market capitalization across its 11 listed companies.
The issue has sparked heated political debate, with Congress questioning the regulatory oversight and transparency of the Modi government. The Parliament discussion on the matter is expected to draw significant attention.