Indian Prime Minister Narendra Modi's party said it had no reason to defend billionaire Gautam Adani on Tuesday following his U.S. indictment over alleged bribery to secure power deals in India. The m

News that Indian billionaire Gautam Adani’s empire faces U.S. fraud charges could not be timed worse for Indian Prime Minister Narendra Modi's economy.

Adani, 62, one of Asia’s richest men, was thrust into the spotlight last week when U.S. prosecutors in New York charged him and seven of his associates with securities fraud.

Hundreds of supporters of India’s main opposition party have protested against billionaire Gautam Adani, who was recently indicted in the U.S. for alleged fraud and bribery, and accused the government