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.
To combat the decline in air quality during the past three weeks, authorities in the capital and surrounding cities of India fined thousands of car owners and construction sites for violating pollution regulations.
New Delhi topped global pollution charts Friday as Diwali firecracker celebrations worsened air quality to hazardous levels, despite a ban. Seasonal crop burning further compounded the smog, leaving the city blanketed in thick, dense pollution.
Parts of Bengaluru were flooded Tuesday after heavy overnight rain, with rescuers searching for people trapped in a collapsed building. The city faces severe waterlogging, fallen trees, and damaged infrastructure, as more rain is forecast in the coming days.
Armenia is planning to acquire Pralay tactical ballistic missiles from India, these missiles are capable of maneuvering during the final phase of their flight
Twin bomb threats targeted Indian airliners on Tuesday, forcing an Air India flight from New Delhi to Chicago to make an emergency landing in Iqaluit, Canada, while fighter jets were scrambled in Singapore. All 211 passengers were safely relocated, with the threat later deemed a hoax.
Ursula von der Leyen has secured a second term as European Commission president following European Parliament approval. Her team faces major challenges, including U.S. tensions, the Ukraine war, climate action, and EU enlargement.
Sri Lanka has been overwhelmed by heavy floods over the past two days, leaving eight people, including six children, missing.
Negotiations at COP29 in Baku face a critical impasse as sharp divisions over climate finance and fossil fuel commitments threaten progress.
"Come up with the video in its full form," demands the COP29 CEO, Elnur Soltanov, in an exclusive interview with AnewZ. The chief executive has broken his silence on the claims he was using his position to organise potential fossil fuel deals.
The United Nations COP29 climate change conference in Baku seeks $1 trillion annually to help vulnerable nations tackle climate change, as political tensions and Argentina’s withdrawal overshadow talks.
Ursula von der Leyen has secured a second term as European Commission president following European Parliament approval. Her team faces major challenges, including U.S. tensions, the Ukraine war, climate action, and EU enlargement.
Sri Lanka has been overwhelmed by heavy floods over the past two days, leaving eight people, including six children, missing.
Ursula von der Leyen has secured a second term as European Commission president following European Parliament approval. Her team faces major challenges, including U.S. tensions, the Ukraine war, climate action, and EU enlargement.
Sri Lanka has been overwhelmed by heavy floods over the past two days, leaving eight people, including six children, missing.
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