The Bharatiya Janata Party (BJP) has raised concerns about the timing of bribery allegations against the Adani Group by U.S. authorities, suggesting it could be politically motivated, given its announcement came just before a crucial parliamentary session in India.
Reports indicate that U.S. prosecutors are investigating whether entities linked to the Adani Group engaged in bribery to secure favorable treatment for an energy project. The probe is being conducted by the U.S. Attorney’s Office in New York and the Department of Justice’s fraud unit. Adani Group has responded, stating they are “not aware” of any such investigations and continue to deny wrongdoing.
This development has reignited political controversies in India. Opposition parties, including Congress, have seized the opportunity to question the BJP’s ties with the industrial group, while the ruling party views these allegations as an external attempt to tarnish India’s industrial credibility. The Supreme Court and SEBI are already investigating earlier allegations of stock manipulation by the conglomerate.
With no conclusive evidence disclosed yet, the BJP’s concerns focus on the implications for domestic politics and the global perception of Indian enterprises. Meanwhile, the Adani Group’s stocks experienced volatility amidst these developments.