Gautam Adani, chairman of the Adani Group, and several associates have been indicted in New York on charges of bribery and securities fraud. The indictment alleges that Adani and his co-defendants orchestrated a scheme involving over $265 million in bribes to Indian officials to secure contracts for a massive solar energy project, which was misrepresented to investors to raise funds exceeding $3 billion. This legal action has led to significant drops in Adani Group's stock prices, with key companies experiencing losses between 7% and 20%. The charges have prompted calls from the Indian National Congress for a Joint Parliamentary Committee investigation, criticizing the Indian securities regulator SEBI for inadequate oversight. The U.S. Securities and Exchange Commission has also filed a civil case against Adani and his associates, seeking penalties for violations of antifraud provisions. Despite the severity of the charges, neither Adani nor his co-defendants are currently in custody, and they have yet to comment publicly.