Congress leader Rahul Gandhi on Thursday demanded the immediate arrest of industrialist Gautam Adani after the billionaire was implicated in a major bribery and fraud scheme in the United States. Gandhi accused Prime Minister Narendra Modi of shielding Adani, following the charges laid out by US prosecutors, which allege that Adani and his associates paid $250 million in bribes to Indian officials.

“The question is: Why is Adani out of jail? The answer is: Because Narendra Modi is under the control of Adani,” Rahul Gandhi alleged at a press conference on Thursday.

‘Adani be immediately arrested’: Rahul Gandhi

During the press conference in New Delhi, Rahul Gandhi claimed that the charges against Adani clearly demonstrated the billionaire’s involvement in breaking both Indian and American laws. He criticised the Indian government, stating that Adani’s close relationship with Prime Minister Modi was allowing him to evade accountability.

“We demand that Adani be immediately arrested,” Gandhi stated, asserting that Modi’s protection of Adani would prevent any legal action. Gandhi also accused the government of not taking the allegations seriously, noting that Adani’s connection with Modi ensured his safety within India.

‘Modi is protecting Adani’: Rahul Gandhi

In his remarks, Rahul Gandhi Gandhi also took aim at Prime Minister Modi’s famous slogan, “Ek hain to safe hain” (If we are together, we are safe), which he suggested applied to the relationship between Modi and Adani.

“Narendra Modi gave the slogan: If we are united, we are safe. In India, if Narendra Modi and Adani are together then they are safe. Nothing can be done to Adani in India. Here the Chief Minister is sent to jail and Adani is roaming free after committing a scam of ₹2,000 crore. Because Narendra Modi is protecting them. The US investigation has said that Adani has committed crimes in India and America. But no action is being taken against Adani in India,” Rahul Gandhi alleged.

‘Adani won’t be arrested or investigated in India’: Rahul Gandhi

LoP Rahul Gandhi went on to demand a thorough investigation into the charges, including the removal of Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), whom he described as being complicit and ‘protector’ in Adani’s actions.

Rahul Gandhi also renewed Congress’ call for a Joint Parliamentary Committee (JPC) probe into the matter.

“Adani has committed a scam of ₹2000 crore. I can guarantee that Adani won’t be arrested or investigated in India,” Gandhi said, suggesting that the Modi government’s influence over Adani would shield him from any legal action within the country.

‘I will raise this issue in Lok Sabha,’ Rahul Gandhi stated. The Congress leader’s remarks come just days before the Winter session of Parliament, where Gandhi intends to raise the issue.

US prosecutors charge Adani over bribery scheme

Shares in Indian conglomerate Adani tanked on Thursday after its industrialist owner Gautam Adani was charged by US prosecutors with handing out more than $250 million in bribes for key contracts.

US prosecutors allege that the Adani group executives orchestrated a massive bribery scheme involving substantial sums of money to influence Indian officials.

The charges against Adani are another blow to the firm, which was sent reeling last year when a bombshell report from US investment firm Hindenburg Research claimed the conglomerate had engaged in a “brazen stock manipulation and accounting fraud scheme over the course of decades”.

Adani Group refutes allegations

In an official statement, the Adani Group said, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.”

“As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty. All possible legal recourse will be sought,” the statement added.

New Delhi: Adani Wilmar Ltd on Thursday reported its highest-ever half-yearly net profit at Rs 624 crore for the first six months of the current fiscal (FY25). In Q2 FY25, the Adani Group company clocked Rs 326 crore in standalone profit (PAT), up from Rs 324 crore in Q1 FY25. In the quarter, the company saw an 18 per cent surge in revenue at Rs 14,460 crore (year-on-year).

Adani Wilmar MD and CEO Angshu Mallick said they have delivered another strong quarter, with double-digit growth in both edible oils and Food & FMCG segments. “We have been the second and third largest players in wheat flour and basmati rice business, respectively. On the back of trust and quality, along with branding investments, our flagship brand ‘Fortune’ has been gaining good acceptance with consumers for the entire range of kitchen essentials,” Mallick added.

Edible oils and Food and FMCG segments delivered strong double-digit revenue growth of 21 per cent and 34 per cent (YoY), respectively. The strong growth in staple foods was partially offset by the decline in the industry essential segment.

With stable edible oil prices, the Adani Group company posted strong profits over the last four quarters. For Q2 FY25, operating EBITDA was at Rs 613 crore. In Q2, the edible oil segment revenue grew by 21 per cent YoY to Rs 10,977 crore.

This represents the third consecutive quarter of double-digit volume growth. The growth was driven by strong performance in soybean, sunflower, and mustard oil. The Food and FMCG segment’s revenue grew by 34 per cent to Rs 1,718 crore. Excluding the G2G exports business, the volume growth of the Food and FMCG business was at 21 per cent YoY.

“In the wheat business, the company continues to grow strongly. The sales also benefited from the introduction of small pack sizes in markets with lower per capita consumption. In Q2, branded sales of pulses, besan, soya nuggets, sugar, poha, and soap showed strong double-digit growth YoY,” the company said.

The company has been expanding its distribution network to access more towns and has reached over 36,000 rural towns directly by the end of September. The goal is to reach 50,000 rural towns by the end of FY25 and drive the penetration of outlets and volume offtake in the new outlets, said the company.