Lawmakers Demand DOJ Preserve Adani Records

In a significant political move, Rep. Lance Gooden has called on the U.S. Department of Justice to preserve all records related to the prosecution of billionaire Gautam Adani and his companies, arguing that the Biden administration's actions are a case of 'selective prosecution.' Gooden's request comes just days before Donald Trump's inauguration and follows a recent indictment alleging misconduct entirely within India, with no apparent harm to U.S. interests. He questioned the rationale behind the DOJ's focus on the Adani group while noting that similar allegations against U.S. companies have not led to indictments. Meanwhile, Hindenburg Research, an investment firm known for its critical reports on Adani, announced its disbandment, although the timing raised questions given the ongoing scrutiny of Adani's business practices. The disbandment and Gooden's demands highlight the contentious environment surrounding the upcoming change in administration and its implications for international business. The situation continues to evolve, with potential implications for U.S.-India relations.