Adani bribe row: US indictment names Andhra, Chhattisgarh, Odisha, J&K, Tamil Nadu
Gautam Adani case: The US prosecutors have alleged that the Adani Group paid USD 265 million in bribes, with a large chunk directed at officials in Andhra Pradesh, to secure contracts with state electricity distribution companies. US prosecutors accuse Gautam Adani of bribery and securities fraud Large chunk of bribes went to officials in Andhra Pradesh Adani Group denies allegations, likely to take legal action Four states and one Union Territory are in focus following the US indictment of Gautam Adani and seven others for allegedly paying bribes to Indian government officials for securing solar power contracts. The prosecutors have alleged that the Adani Group paid USD 265 million in bribes, with a large chunk directed at officials in Andhra Pradesh, to secure contracts with state electricity distribution companies between 2021-2023. The other states named in the US indictment are Odisha (then ruled by Naveen Patnaik's BJD), Tamil Nadu (under DMK), Chhattisgarh (under Congress), and Jammu and Kashmir (under Central rule). Andhra Pradesh was then helmed by Jagan Reddy's YSR Congress. At the heart of the case is a contract secured by Adani Green Energy and another renewable-energy company, Azure Power, to provide 12 gigawatts of solar power to the government-owned Solar Energy Corporation of India (SECI). However, SECI struggled to find customers as the energy was expensive for state governments. It is then that the Adani Group and its associates used bribes to help convince certain states to use their solar energy, as per the prosecutors. This fact, however, was concealed from the US banks and investors from whom the Adani Group raised billions for the solar energy project. As per the indictment, the Adani Group promised Indian officials approximately USD 265 million as bribes. This included USD 228 million to a single unnamed official, named "Foreign Official #1", who secured a deal for electricity providers in Andhra Pradesh to purchase 7 gigawatts of solar energy. According to the indictment, Adani personally interacted with "Foreign Official #1" in Andhra Pradesh on multiple occasions in 2021 to advance the agreements. Adani met the said official on August 7, September 12 and November 20 in 2021. Following this, Andhra power distribution companies entered into a power sale agreement (PSA) with SECI, agreeing to purchase 7 GW of solar power, the largest amount procured by any state. Between July 2021 and February 2022, other states -- Odisha, Jammu and Kashmir, Chhattisgarh, Tamil Nadu -- also decided to sign up for solar power. US prosecutors said that to hide the bribery scheme, the conspirators used code names. For example, Gautam Adani was called "Numero Uno" or "The Big Man". All the communication was via encrypted messaging. Arrest warrants have also been issued in the US for Adani and his nephew Sagar and prosecutors plan to hand those warrants to foreign law enforcement, court records show. The Adani Group has, however, called the allegations baseless and said it would take legal action. "All possible legal recourse will be sought," it said in a statement KR IRS 211124 -- You received this message because you are subscribed to the Google Groups "Thatha_Patty" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion visit https://groups.google.com/d/msgid/thatha_patty/CAL5XZoqzNYHGJmm3rn6y3w4OR7Urb63AKMRDMd_hNVFYtXrdsA%40mail.gmail.com.
