Ex-chief minister of Adani group refuted allegations

29/11/2024 6:22

        The former chief minister of India's
        Andhra Pradesh state refuted on Thursday bribery allegations and
        any involvement by the Adani Group in the state government's
        purchase of solar power while he was in power.
        
        In his first comments after facing allegations of
        corruption, Jagan Mohan Reddy dismissed any state involvement
        with Adani in the deal. He said the agreement was between the
        government and the Solar Energy Corporation of India, which
        awards power-supply contracts to companies, and no third party.
        
        "Adani meeting me is nothing out of ordinary. He would have
        met me several times during my tenure. He has got ongoing
        projects in Andhra Pradesh," Reddy said in a press briefing.
        
        Reuters earlier reported that the southern state is likely
        to suspend a power-purchase deal linked to the Adani Group due
        to Gautam Adani's indictment in the U.S., and will ask the SECI
        and the federal government to investigate the charges.
        
        U.S. authorities have accused Gautam Adani, his nephew and
        executive director Sagar Adani and managing director of Adani
        Green, Vneet S. Jaain, of being part of a scheme to pay bribes
        of $265 million to secure Indian power-supply contracts, and
        misleading U.S. investors during fund raises there.
        
        Most of the alleged bribes - $228 million - were paid to a
        government official to entice Andhra Pradesh's state
        electricity-distribution companies to agree to purchase power,
        the U.S. indictment said.
        
        Adani Group has denied all allegations made by the U.S.
        Department of Justice and the Securities and Exchange Commission
        as "baseless" and said it was fully compliant with all laws.