Indian parliament chaos after US charges against top businessman shock markets
US authorities charge well-known Indian businessman with bribery scheme causing market turmoil. Indian parliament stops work as opposition wants to discuss the case‚ while companies shares try to recover
Indian lawmakers cant work for second day-in-a-row as opposition members demand talks about Gautam Adaniʼs US indictment (which happened last week)
US officials say Gautam Adani‚ his nephew Sagar Adani and Vneet S Jaain made $265M in bribes to get power deals; the group says its not true. Their company stocks dropped $34B but got back $9B on wed
The gentleman has been indicted in the United States ... and the government is protecting him
The ruling BJP party doesnt want to get mixed-up in this mess: their speaker said they dont need to defend Adani – hes just one of many business-people helping build the nation
Adani Green made things clear in stock-market papers; the boss faces money-fines for breaking rules but isnt charged with foreign bribery. The SEC wants cash penalties but hasnt said how much
The case hit Adaniʼs business hard:
- French company TotalEnergies wont put more money in
- Kenya stopped a $2B airport deal
- Adani Green lost $8B in value
The whole thing is making big waves in India – parliament cant work MPs keep shouting and making noise while Adaniʼs companies try to fix their stock prices
