India suspends parliament again in dispute over U.S. action on Adani

Source: Reuters

India suspends parliament again in dispute over U.S. action on Adani

Reuters
Updated Wed, November 27, 2024 at 9:36 AM EST 3 min read

NEW DELHI (Reuters) - India's lower house of parliament suspended proceedings for a second day on Wednesday after disruptions by lawmakers demanding a discussion of the U.S. indictment of billionaire Gautam Adani, while stocks of his group's companies clawed back some losses.

Last week U.S. authorities accused Adani, his nephew and executive director Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian power supply contracts and misleading U.S. investors.

The ports-to-power conglomerate denied the charges as "baseless" and vowed to seek "all possible legal recourse".

India's opposition, especially the Congress party, accuse Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) of shielding Adani and blocking investigations against him in India, accusations that have been denied.

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Read more: https://finance.yahoo.com/news/lower-house-indian-parliament-suspended-055317903.html