Last week U.S. authorities accused Adani, his nephew and executive director Sagar Adani and managing director of Adani Green (ADNA.NS), opens new tab, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian power supply contracts and misleading U.S. investors.
The ports-to-power conglomerate denied the charges as "baseless" and vowed to seek "all possible legal recourse".
India's opposition, especially the Congress party, accuse Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) of shielding Adani and blocking investigations against him in India, accusations that have been denied.
Parliament proceedings were disrupted for the second day since the winter session began this week, with MPs shouting slogans and demanding discussion of the Adani allegations.
Congress leader Rahul Gandhi, who has been a vocal critic of Adani, said Gautam Adani should be arrested.
"The gentleman has been indicted in the United States ... and the government is protecting him," Gandhi told reporters outside parliament.
The government has made no comment on the indictment but the ruling BJP has distanced itself from the controversy.
The BJP had no reason to defend Gautam Adani, a spokesperson said, adding that the party was not against industrialists, but rather considered them partners in nation-building efforts.
"Let him defend himself," the spokesperson, Gopal Krishna Agarwal said on Tuesday, adding that the law would take its own course in case of wrong-doing.
On Wednesday, Adani Green, the company at the center of the indictment, said Gautam Adani had been charged in the United States for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.
In a stock exchange filing, Adani Green said a complaint by U.S. regulator the Securities and Exchange Commission (SEC) sought "an order directing the defendants to pay civil monetary penalties (but) it does not quantify the amount of penalty".
The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.
STOCK REBOUND
Shares of 10 listed Adani Group firms recovered about $9 billion in market value on Wednesday, after having shed up to $34 billion since the indictments, up to Tuesday's close.
Adani Green, the hardest hit by the accusations, jumped 9%, but is still down some $8 billion in value.
The indictments are seen as the biggest setback for Gautam Adani, 62, and his conglomerate.
French oil major TotalEnergies (TTEF.PA), opens new tab, which has a 20% stake in Adani Green, has said it will not make any more investments in the group, adding that it was not informed of the U.S. bribery allegations against Gautam Adani.
Kenya has also cancelled a procurement process of more than $2 billion that had been expected to give control of its main airport to the Adani Group.
Arrangements are currently underway for Russian President Vladimir Putin to visit India, according to Russia’s Foreign Affairs Minister Sergey Lavrov.
In a stern warning to the automaker, the Indian government told a Mumbai court that quashing Volkswagen's demand to cancel a $1.4 billion tax bill would have "catastrophic consequences" and could encourage companies to withhold information and delay inquiries.
Authorities imposed an indefinite curfew in parts of Nagpur after violent clashes erupted over a Hindu group's demand to remove the tomb of 17th-century Mughal Emperor Aurangzeb. At least 15 police officers were injured as tensions escalated between Hindu and Muslim groups.
India and New Zealand have signed a memorandum of understanding to boost defence cooperation, enhancing bilateral ties through joint exercises, training, and a roadmap for collaboration in the defence industry.
Delhi International Airport Limited (DIAL) has sued the Indian government over the approval of commercial flights from Hindon Airbase, 30 km from the capital's airport. DIAL argues it violates aviation regulations and threatens financial viability, seeking to overturn the decision.
French far-right leader Marine Le Pen said on Monday that a court's decision to bar her from office for misuse of European funds ruled her out of the 2027 presidential election, adding she had no confidence in an appeal being heard before the vote.
On March 31, 2025, European diplomats met in Madrid to discuss the ongoing war in Ukraine and the need for Russia to agree to a ceasefire.
President Trump confirmed he is serious about a potential third term, despite constitutional limits, saying it is “far too early” to decide. While U.S. presidents are restricted to two terms, Trump allies are exploring ways to challenge this rule ahead of the 2028 election.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing 2056 people and leaving 3,900 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen said on Monday that a court's decision to bar her from office for misuse of European funds ruled her out of the 2027 presidential election, adding she had no confidence in an appeal being heard before the vote.
On March 31, 2025, European diplomats met in Madrid to discuss the ongoing war in Ukraine and the need for Russia to agree to a ceasefire.
President Trump confirmed he is serious about a potential third term, despite constitutional limits, saying it is “far too early” to decide. While U.S. presidents are restricted to two terms, Trump allies are exploring ways to challenge this rule ahead of the 2028 election.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Three of the four U.S. Army soldiers who went missing in Lithuania last week when their vehicle sunk in a peat bog have been found dead. Lithuanian President Gitanas Nauseda expressed deep sorrow and stated that the search for the remaining soldier is ongoing.
French far-right leader Marine Le Pen said on Monday that a court's decision to bar her from office for misuse of European funds ruled her out of the 2027 presidential election, adding she had no confidence in an appeal being heard before the vote.
On March 31, 2025, European diplomats met in Madrid to discuss the ongoing war in Ukraine and the need for Russia to agree to a ceasefire.
President Trump confirmed he is serious about a potential third term, despite constitutional limits, saying it is “far too early” to decide. While U.S. presidents are restricted to two terms, Trump allies are exploring ways to challenge this rule ahead of the 2028 election.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
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