NEW DELHI—Asia’s controversial richest man, Indian tycoon Gautam Adani, is again in the spotlight.
India’s opposition Congress party leader Rahul Gandhi addresses the media on Indian businessman Gautam Adani, after Adani was indicted by US prosecutors on charges he duped investors in a massive solar energy project in India, in New Delhi, India on Thursday, Nov. 21, 2024. Image behind shows Adani.
One result of the US legal action is that the Adani group decided not to proceed with a proposed US dollar-denominated bond offering. Adani Renewables announced the decision in letters to the Bombay Stock Exchange and the National Stock Exchange of India.Adani is the son of a middle-class family in Ahmedabad in western India’s Gujarat state. Adani quit college to become a diamond trader in Mumbai, India’s financial capital.
Adani companies, India’s second-largest conglomerate, operate airports in major cities, build roads, generate electricity, manufacture defense equipment, develop agricultural drones, sell cooking oil and run a media outlet. Despite his fossil fuel roots, the billionaire Adani Green aims to become the world’s largest renewable energy player by 2030.
Ramesh said his party has been “bringing out the various dimensions of these scams and the intimate nexus between the PM and his favorite businessman. These questions have remained unanswered.”
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