The indictment will intensify political attacks on India Prime Minister Narendra Modi for his proximity to billionaire Gautam Adani, says Bloomberg Opinion’s Andy Mukherjee.

Indian tycoon Gautam Adani, one of Asia’s richest men, may be facing his biggest challenge yet with an indictment by U.S. prosecutors for alleged fraud and bribery

In a statement, the US Department of Justice (DOJ) alleged that Adani – a close ally of India’s Prime Minister Narendra Modi – and seven of his associates, including his nephew Sagar Adani, promised Indian officials more than $250m in bribes to secure energy contracts being funded by international investors, including some from the US.