New Delhi, Nov 22 (PTI) AAP's Rajya Sabha MP Sanjay Singh continued his attack on Prime Minister Narendra Modi on Friday over the Adani bribery case, accusing him of prioritising friendship over the welfare of Indian investors.

At a press conference here, Singh alleged that Indian investors have lost Rs 5.5 lakh crore due to the alleged corruption of the business conglomerate headed by industrialist Gautam Adani.

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"Prime Minister Narendra Modi focuses on trivial issues like buffaloes and mangalsutras at election rallies but remains silent when Indian investors have lost Rs 5.5 lakh crore due to his friend Adani's actions," the Aam Aadmi Party (AAP) leader said.

Modi's foreign trips are not about strengthening India's name but about boosting his friend Adani's businesses abroad, he alleged.

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Singh's remarks came in the wake of serious allegations from US prosecutors, who have accused the Adani Group of bribing Indian officials with more than USD 250 million (Rs 2,100 crore) to secure favourable terms for solar-power contracts.

According to the US Department of Justice, these alleged bribes were concealed from American banks and investors who funded the Adani Group's projects.

The Adani Group has dismissed the allegations as baseless, emphasising that the business conglomerate upholds the highest standards of governance and legal compliance. It has vowed to explore all possible legal avenues to counter the charges.

"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," a spokesperson of the business conglomerate said on Thursday.

Singh raised further concerns over the lack of action from Indian agencies, including the Securities and Exchange Board of India (SEBI), Enforcement Directorate (ED) and Central Bureau of Investigation (CBI), despite the ongoing investigations against the Adani Group in the United States.

On Thursday, the AAP leader had accused the Adani Group of trying to enter Delhi's power sector and claimed that its efforts were thwarted by then chief minister Arvind Kejriwal.

"Adani even attempted to enter Delhi's electricity market but failed because then chief minister Arvind Kejriwal thwarted those attempts," he said while cautioning people that if the Bharatiya Janata Party (BJP) comes to power in the national capital, electricity tariffs could surge.

The issue is expected to dominate discussions in the Winter Session of Parliament set to commence from Monday. Singh said the AAP would strongly oppose the alleged corruption in the Adani case and demand a thorough and fair probe.

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