BJP distances itself from Indian billionaire Gautam Adani following a U.S. indictment over alleged bribery for power deals. Opposition demands a parliamentary probe, accusing the ruling party of shielding Adani.

Federal prosecutors issued arrest warrants for the billionaire head of the Adani Group and his nephew Sagar, alleging they participated in a $265 million scheme to bribe Indian officials to secure power-supply deals.

Adani Group, led by billionaire Gautam Adani, faces increased scrutiny as U.S. bribery allegations lead to credit downgrades. The allegations involve a $265 million scheme linked to Indian power projects,

Authorities said Adani and seven other defendants, including his nephew, agreed to pay about $265 million in bribes to Indian government officials to obtain solar energy supply contracts expected to yield billions in profit.

Adani has been charged by U.S. federal prosecutors with defrauding investors for a solar energy project in India.

The indictment — against Adani and seven other defendants, including his nephew Sagar Adani — portrays Adani and his co-defendants of playing two sides of

Some nations and investors have either scrapped deals or halted investments in the Adani Group, after the United States indicted its billionaire chairman Gautam Adani for alleged bribery and fraud to win contracts for a group company,

Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners.