[13] Noted for its close association with the ruling Bharatiya Janata Party,[14][15] Adani was the largest Indian conglomerate as of 2022 with a US$206 billion market capitalization, surpassing Tata Group.

[17][18] In May 2024, the Adani Group's market capitalization returned to over $200 billion after the Supreme Court directed the Securities and Exchange Board of India (SEBI) to expedite its investigation.

[19] The Adani Group has also attracted other controversies due to reports suggesting stock manipulation, accounting irregularities, exporting military drones to Israel for its war in Gaza, political corruption, cronyism, tax evasion, environmental damage, and suing journalists.

In April, Adani Enterprises secured approval from the Government of Gujarat to begin work on building a solar power equipment plant.

According to a collaborative report from Environmental Justice Australia, Jeyakumar Janakaraj held significant positions at a mining company that faced criminal charges related to the contamination of the Kafue River in Zambia.

Specifically, Janakaraj served as the operations director at Konkola Copper Mines in 2010, when the company faced legal charges concerning the discharge of hazardous wastewater into the river.

"[61] Although, under section 489 of Australia's Environment Protection and Biodiversity Conservation Act 1999, presenting inaccurate or deceptive information could potentially constitute an offence, the federal government opted not to pursue any legal action against Adani.

[77][78] After Modi's visit to Bangladesh, the Bangladeshi government under Sheikh Hasina signed a deal with the Adani Group to import electricity from Jharkhand.

[80] In August 2022, CreditSights, a unit of Fitch Ratings, warned that Adani's recent aggressive expansion had hurt the group's cash flow and credit metrics.

This manipulation was carried out through entities overseen by Ketan Parekh, the stockbroker who was the main accused in India's biggest stock market scandal.

[86] Adani group also faced accusations of bid-rigging by the Indian National Congress after winning a contract to supply 6,600 MW of electricity to Maharashtra.

Fearing an expensive lawsuit by one of India's biggest corporate houses EPW then decided to take down the article,[92] prompting Paranjoy Guha Thakurta's resignation.

[97] Additionally, they provided two investigative notes, cautioning that the group might be involved in manipulating the stock market through funds allegedly siphoned off using the strategy of overvaluing power equipment imports.

[98] Between December 2021 and November 2023, Swiss authorities froze a total of $310 million in five different accounts linked to Adani group following investigations into money laundering.

In the past, PMC Projects, an Adani contractor, was accused of inflating the value of imported power and infrastructure goods by nearly ₹1,500 crore.

Howe, now a separate entity, continues to work as an Adani contractor (just like PMC Projects) for major ports and railway lines being built in India.

The report accused Adani of pulling "the largest con in corporate history"[17][104] and "brazen stock manipulation and accounting fraud scheme over the course of decades".

[125][126] On 19 May, on prima facie, a committee formed by the Supreme Court of India communicated its inability to conclude regarding the existence of a regulatory failure concerning the accusation of stock price manipulation by the group.

[131][132] On 31 August 2023, Organized Crime and Corruption Reporting Project (OCCRP) put forth allegations asserting that a substantial amount of funds, in the hundreds of millions of dollars, were directed into publicly traded stocks of the Adani Group.

In September 2024, GQG Partners was charged by the Securities and Exchange Commission for hindering whistleblower protections, through its restrictive Non-disclosure agreements that disallowed employees from reporting potential violations.

The alleged deal was brokered by ALG Global, a Spanish firm, and would be financed majorly by Kenyan taxpayers with full control of the airport granted to Adani Group for the 30 years.

[152] In October 2024, former Prime Minister of Kenya, Raila Odinga said he was introduced to Adani Group by Narendra Modi who organised a visit by Kenyan delegation to the projects of the company.

This announcement came during Ruto's state of the nation address, just a day after Adani's directors faced charges in a New York court for alleged bribery and fraud.

The cancellation has been welcomed by some Kenyans, including whistleblower Nelson Amenya, who views it as a victory for citizen empowerment and an indication that change is possible in the country.

[155][156][157] A February 2023 article in The Signpost said that the Adani team has been manipulating Wikipedia entries using sock puppet accounts to insert promotional material and remove or edit criticism.

[163] On 20 November 2024, federal prosecutors in New York charged Gautam Adani and his associates with multiple counts of fraud, including bribing Indian government officials with over $250 million to secure solar energy contracts.

[165] According to an investigation by the Financial Times, Adani group had imported $5 billion worth of coal at more than double the market prices through offshore intermediaries in Singapore, Taiwan and Dubai.

"[170] This bid also raised concern regarding editorial independence in India, since Adani is considered to be close to Prime Minister Narendra Modi's ruling Bharatiya Janata Party.

"[175] In 2022, Ravi Nair, a freelance journalist was allegedly issued an 'arrest warrant' by the Delhi police without any prior summons after Adani group filed a defamation case against him.

Adani also sponsored various other sports initiatives, including a 2016 nationwide programme to prepare athletes for Rio Olympics called Garv Hai (transl.