Need for Accountability: Congress Calls for JPC Probe into Adani Bribery Allegations
The recent accusations against Gautam Adani and his associates, specifically the bribery scheme involving $250 million in exchange for solar energy deals, have raised serious concerns about corporate governance, accountability, and the integrity of regulatory institutions in India. The Congress party’s call for a Joint Parliamentary Committee (JPC) investigation into the Adani Group's operations is both timely and necessary. The party’s demand is underscored by the findings of the U.S. Securities and Exchange Commission (SEC) and FBI investigation, which highlight critical flaws in the way the Securities and Exchange Board of India (SEBI) has handled scrutiny of the Adani Group's business dealings. While the principle of "innocent until proven guilty" applies, these charges expose the need for greater transparency and accountability in India’s corporate sector. With the Adani Group yet to respond to these serious allegations, the Indian government must ensure that r...