Congress has demanded a discussion in Parliament on the recent indictment of the Adani Group in the United States. With both houses of Parliament gearing up for the third day of the winter session on Wednesday, Congress MPs Manickam Tagore. Randeep Singh Surjewala, and Manish Tewari moved adjournment notices for urgent attention to the matter.
Manickam Tagore, in a notice to the Secretary-General of the Lok Sabha, asked for an adjournment of the House to discuss the “very serious issue” regarding the US indictment against Gautam Adani on indictment involving more than $265 million in alleged bribes in solar power deals and securities fraud. Tagore was critical that the Modi government was keeping quiet over the issue. And was thus asking questions about India’s integrity and global reputation. He also reported that the Andhra Pradesh government might cancel its solar power deal with Adani Group over bribery allegations. He demanded an immediate discussion and a CBI inquiry into the matter.
Randeep Singh Surjewala also moved a similar notice in the Rajya Sabha. He urged the suspension of all scheduled business to discuss the grave revelations in the US court indictment. The bribery allegations in securing the power supply agreements through SECI tenders raise extremely serious questions about corruption in public procurement processes. He further pressed for a JPC into these allegations and what they imply for governance and institutional integrity in India.
Another Congress MP, Manish Tewari, moved an adjournment motion in the Lok Sabha. He sought to discuss the implication of indictment on India’s reputation as a business destination. And the efficacy of its regulatory systems after two US indictments against the Adani Group.
The Adani Group strongly rejected the bribery accusations raised against it. In a filing to the stock exchanges, Adani Green Energy Ltd clarified the reports that accused some of the group’s executives of violating the US FCPA. The filing made it clear that Gautam Adani, Sagar Adani, and Vneet Jaain are not accused of any violations related to bribery or conspiracy. Accusations charged against these gentlemen are purely related to security fraud and wire fraud.
While five charges were mentioned in the indictment issued by the US Department of Justice. Charges related to bribery were against the others and did not involve any Adani executives. These include other individuals linked with Azure Power and a Canadian investor.
Adani Group, one of India’s largest conglomerates in the infrastructure sector, has plunged $55 billion in market capitalization across its listed companies since the indictment.
ANI
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