Adani Scandal: Billionaire's Legal Trouble Sparks Political Debate

Billionaire Gautam Adani faces charges in the U.S. for an alleged $250 million bribery scheme aimed at securing favorable solar power contracts in India. The development has ignited political tensions, with Rahul Gandhi calling for Adani's arrest and a demand for a Joint Parliamentary Committee investigation.

Billionaire Gautam Adani has been charged by U.S. prosecutors in connection with a $250 million bribery scheme involving Indian officials. The alleged fraud was intended to secure favorable terms for solar power contracts in India, leading to significant political fallout.

As news of the charges spread, Rahul Gandhi, a prominent leader of the opposition in India, demanded Adani's immediate arrest and an investigation into the Securities and Exchange Board of India (SEBI) chief. The accusations also bolstered the Congress Party's call for a Joint Parliamentary Committee investigation into various alleged scams involving the Adani conglomerate.

Amidst this turmoil, the market reacted sharply, with Adani group stocks experiencing significant declines. This latest development continues to strain the political battlelines between Congress and the ruling BJP, with heated exchanges over governance and accountability.

(With inputs from agencies.)