6 sources·Business

U.S. Charges Against Gautam Adani Spark Protests in India

Protests erupt in New Delhi following U.S. indictment of billionaire Gautam Adani for bribery linked to a solar project.

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Updated: Nov 25th, 2024, 5:41 AM ET

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U.S. SEC indicts Gautam Adani and his nephew on bribery allegations involving $265 million related to a solar project. In response, the Congress party leads protests in India, accusing the government of shielding Adani. The allegations have caused significant stock plunges for Adani Group, which denies wrongdoing. Adani's ties to Prime Minister Modi raise questions about crony capitalism as opposition calls for investigations into the billionaire’s business dealings and government relations, amidst claims of fraud and securities violations.

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