Billionaire Gautam Adani was indicted in the US for allegedly orchestrating a scheme to bribe Indian officials for lucrative solar energy contracts. As US attorney Breon Peace stated, the indictment reveals that the defendants engaged in an elaborate scheme involving over $250 million in bribes. This significant charge not only raises concerns about Adani's operational ethics but also invites further scrutiny of the relationship between large corporations and governmental oversight in India, especially when it comes to energy contracts.
In light of the recent indictment, Adani Group faces renewed attention from lawmakers and critics. Following allegations from Hindenburg Research and the resultant market value loss of over $140 billion, the calls for investigation intensified. Prominent opposition leader Rahul Gandhi accused the Indian government of protecting Adani from thorough scrutiny, emphasizing a need for a Joint Parliamentary Committee probe. Such a move underscores the growing scrutiny of corporate governance in India's rapidly expanding energy sector.
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