JPC Probe Into Adani Wrongdoings and His Bonhomie with PM Modi A Must | CPI

Communist Party of India

New Delhi,

November 21, 2024

Press Release

The National Secretariat of the Communist Party of India issued today (November 21, 2024) the following statement:

The indictment of Gautam Adani and his associates in a US court for scheming bribery to Indian officials amounting more than 250 million USD came as another reminder of how deep corruption and rot have set into Indian ruling circles under the BJP and Narendra Modi. The charges involve claims of political manipulation and financial misconduct, only add to a growing list of controversies that have long surrounded the Adani Group and its business malpractices.

This indictment calls into question not just the personal integrity of Gautam Adani and his business empire but also the integrity of Indian watchdogs and administration, under which such unethical practices are flourishing. This indictment follows the 2023 Hindenburg Research revelations, which exposed a series of financial irregularities, including stock manipulation and undisclosed liabilities, that inflated the value of Adani Group companies.

Recently, another controversy was the SEBI investigation into alleged stock market manipulation by the Adani Group, with regulatory head Madhabi Buch