WEB DESK
The National Secretariat of the Communist Party of India today issued the following statement regarding Adani cases:
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’s involvement drawing considerable attention. The lack of transparency and delays in addressing these issues have only fuelled suspicions of complicity and preferential treatment within the regulatory mechanisms. The perception of a compromised investigation has set among the people.
From favourable policies to high-profile infrastructure deals, there is widespread public perception of complicity of Prime Minister Modi. Repeated calls for investigation to ensure that all allegations—whether linked to bribery, stock manipulation, or regulatory failures—have fell to the deaf ears of the Modi Government. Only through a fair, unbiased probe can the truth be uncovered.
In this context, the CPI demands that a joint parliamentary committee be formed to look into the growth, business malpractices and controversies surrounding the Adani Group and their bonhomie with Narendra Modi and the BJP. In the absence of a thorough and impartial probe, it will be considered well-established that the Modi government is indeed serving the interests of Adani at the cost of the people.
The CPI also calls upon all party units to stage protests throughout the country demanding a probe into Adani’s wrongdoings, his closeness to the Prime Minister and the BJP’s crony capitalist model which neglects the people and their demands to serve the interests of corporate houses. Press Release