Parliament protests erupt over Gautam Adani's fraud allegations
- Protests disrupted Parliament for the third day as opposition parties demand action against Gautam Adani.
- Allegations against Adani include fraud and bribery related to a massive solar project.
- The controversy has led to international scrutiny and cancellation of deals with the Adani Group in multiple countries.
In New Delhi, India's Parliament faced significant disruptions as opposition parties protested against the government’s inaction regarding serious fraud allegations against billionaire Gautam Adani. The protests, occurring for the third consecutive day, arose from the government's silence about the recent indictment of Adani in the United States, where he was charged with engaging in a scheme that allegedly involved bribing Indian officials for a massive solar project. This scheme reportedly involved concealing a $265 million bribery payment to foster investment in renewable energy. The opposition parties, led primarily by Congress, accused the Indian government of Prime Minister Narendra Modi of shielding Adani and called for an investigation into the Adani Group’s extensive business dealings across various sectors including agriculture and infrastructure. During the parliamentary sessions, crowds of opposition members displayed their dissent vocally, disrupting the proceedings and demanding accountability from the ruling party. The Speaker of the House, Om Birla, ultimately adjourned the sessions in response to the uproar. The Adani Group denied the allegations, describing the indictment as baseless and asserting that all accused parties are presumed innocent until proven guilty. This incident has had far-reaching implications, impacting Adani's business ventures not only in India but also abroad. Reports indicate that Kenya’s president has cancelled multimillion-dollar agreements with the Adani Group for projects related to airport modernization and energy production. Furthermore, scrutinies regarding Adani's projects are emerging in Sri Lanka and Bangladesh, where plans for significant investments and power supply agreements are under review. In Sri Lanka, the government is actively assessing the Adani Group's proposed $440 million investment in wind power generation and terminal development. A spokesperson for the Sri Lankan government stated that assessments would be made based on inquiries from the foreign ministry and finance ministry before making any decisions. Similarly, in Bangladesh, the interim government is reconsidering existing agreements for electricity supply projects that rely on the Adani Group, reflecting the overarching concern about the allegations and their potential economic repercussions. This entire situation underscores the political and economic vulnerabilities that can arise from allegations of misconduct against influential corporate entities and their leaders.