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- Andhra Pradesh CM Chandrababu Naidu; Adani Bribery Case | Solar Energy Contract
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Telugu Desam Party Chief Chandrababu Naidu said that the bribery case has brought bad name to the state.
President of BJP’s ally Telugu Desam Party and Chief Minister of Andhra Pradesh Chandrababu Naidu has reacted to the Adani bribery case. Naidu has said in the Andhra Pradesh Assembly that Andhra Pradesh has become infamous due to the Adani bribery case.
He said that the charge sheet of Adani bribery case has reached us. We will take action soon. All the documents are being verified. Government should be accountable to the people. Such crimes will be repeated until those who commit such acts are brought to justice.
In fact, industrialist Gautam Adani was accused on Thursday of giving bribe and fraud to get a contract related to solar energy in America. This case was registered in the Federal Court of New York.
It is alleged that Adani met the then Andhra CM Jaganmohan Reddy in 2021 and the state government agreed to buy 7 thousand MW of electricity. For this, bribe of Rs 1750 crore was given to Andhra officers.
BJP MLA said- investigation should be started against Jagan Andhra Pradesh BJP MLA P Vishnu Kumar Raju has also demanded that the state government initiate an investigation into bribery allegations against Jagan. He said that the allegations are very serious and the accused should not be spared.
Apart from this, former minister Somireddy Chandra Mohan Reddy also said that after CBI and ED, American agency FBI is now investigating Jagan’s corruption. He said that such people are not fit to be in politics. He has embarrassed the entire state.
On the other hand, Jagan’s party YSR Congress said that we had entered into an agreement directly with SECI (Centre’s company), which was transparent and legally approved. Adani or any private company was not involved in this.
Understand the matter like this: Andhra officers got Rs 1,750 crore for purchasing electricity from the central company. gave a bribe
- According to the US Prosecutor, Adani’s company has recently received a contract to provide 12 GW (12 thousand MW) solar energy from the central company Solar Energy Corporation of India (SECI). But, SECI was not able to find buyers in India to buy solar energy. This deal would not have been possible without buyers.
- In such a situation, Adani Green Energy and Azure Power bribed government officials. In 2021, Adani met the then CM of Andhra (Jaganmohan Reddy) and the state government there agreed to purchase 7 thousand MW of electricity. Andhra officers get Rs 25 lakh per MW. That means a total bribe of $200 million (Rs 1750 crore) was given. Odisha similarly purchased 500 MW power.
- After this, between July 2021 and December 2021, SECI entered into agreements to purchase power from Andhra Pradesh, Odisha, Chhattisgarh and Tamil Nadu.
- To pay the bribe money, both the companies allegedly raised $175 million (Rs 1478 crore) from American banks and investors. Used code to hide his role. Adani’s code name was ‘Numero Uno’ or ‘The Big Man’. The deal was done through encrypted messaging.
- Adani is accused of lying to American investors and banks to collect this bribe money. The case was registered in America because the money of American investors was invested in the project and under American law, giving that money as bribe is a crime.
America’s allegation- offered 2200 crore bribe to Indian officers In America, 8 people including industrialist Gautam Adani have been accused of fraud worth billions of rupees. The United States Attorney’s Office says that Adani paid or was planning to pay bribes of $ 265 million (about Rs 2200 crore) to Indian officials to get contracts related to solar energy in India.
This entire matter is related to Adani Group company Adani Green Energy Limited and another firm. This case was registered in the Federal Court of New York on 24 October 2024. In its hearing on Wednesday, Gautam Adani, his nephew Sagar Adani, Vineet S Jain, Ranjit Gupta, Cyril Cabenis, Saurabh Aggarwal, Deepak Malhotra and Rupesh Aggarwal have been made accused.
However, it is not yet clear whether Gautam or Sagar Adani will appear in the US court or not, because they can try to get the charges against them dismissed without appearing in the court. A spokesman for US Attorney Brian Peace in Brooklyn said it was not clear in which country Gautam Adani lives. No accused has been taken into custody yet.
Adani said – all allegations are baseless, refuted Adani Group has termed all the allegations as baseless. The group said – the allegations made by the United States Department of Justice and the United States Securities and Exchange Commission against the directors of Adani Green Energy Limited are baseless.
Kenya government cancels two deals worth Rs 21,422 crore
President William Ruto addressing the Parliament of Kenya.
America Following the allegations against Adani Group, the Kenyan government has announced the cancellation of all deals made with them. These included big projects like power transmission and airport expansion.
President William Ruto said- ‘Our government works on the principles of transparency and honesty and will not approve such agreements which are against the image and interests of the country. We will not accept any contract which is against the policies and values of our country.
The Kenyan government had signed a power transmission deal worth $736 million i.e. Rs 6,217 crore for 30 years with Adani Group. Under this deal, infrastructure for electricity transmission was to be created in Kenya. Apart from this, Adani Group also had a proposal of $ 1.8 billion i.e. Rs 15,205 crore, in which an international airport was to be developed, but both these deals worth Rs 21,422 crore have now been cancelled.
Some interesting facts related to Gautam Adani and his journey…
Tried luck in diamond industry: Born on 24 June 1962, Gautam Adani, a college dropout, is from Gujarat. Tried his luck in Mumbai’s diamond industry in the early 1980s. After this, in 1988, he started Adani Group with a small agri trading firm.
It has now transformed into a conglomerate spanning coal trading, mining, logistics, power generation and distribution. Adani Group is also in green energy, airports, data centers and cement industry. Gautam Adani has committed to invest $ 70 billion (Rs 590848 crore) by 2030 to make his group the world’s largest renewable energy producer.
Adani Foundation was established in 1996: Adani Foundation was established in 1996 under the leadership of Gautam Adani’s wife Preeti. Adani Foundation is working in rural areas of India. Currently the Foundation is helping improve the lives of 34 lakh people annually in 18 states of the country. Preeti is a doctor by profession, she has done graduation in Dental Surgery (BDS).
Controversy related to Gautam Adani…
First controversy: Hindenburg Research accused of money laundering : It is from January 2023. Gautam Adani’s flagship company Adani Enterprises announced a follow-on public offer of Rs 20,000 crore. This offer was to open on January 27, 2023, but just before that, on January 24, 2023, Hindenburg Research released a report, in which Adani Group was accused of money laundering and share manipulation.
By January 25, the market value of the group’s shares reduced by about $ 12 billion (about Rs 1 lakh crore). However, Adani denied allegations of any wrongdoing. In such a situation, Adani Group also canceled its follow-on public offer of Rs 20,000 crore. The Supreme Court formed a 6-member committee to investigate the case and SEBI also investigated the case.
After the court’s decision, Adani Group Chairman Gautam Adani had said, ‘The court’s decision shows that truth has won. Satyamev Jayate. I am grateful to those who stood with us. Our contribution to India’s growth story will continue. Jai Hind.’
Second controversy: Allegation of selling low-grade coal as high-grade: A month ago, the Financial Times, citing a report by the Organized Crime and Corruption Reporting Project, had claimed that in January 2014, Adani Group had purchased ‘low-grade’ oil from an Indonesian company at a reported price of $28 (about Rs 2360) per tonne. ‘Purchased coal.
The report alleges that this shipment was sold to Tamil Nadu Generation and Distribution Company (TANGEDCO) as high quality coal at an average price of $91.91 (about Rs 7750) per tonne.
Adani Group was earlier accused of rigging the coal import bill.
- Financial Times in one of its reports alleged that Adani Group imported coal from Indonesia at a lower rate and showed higher prices by rigging the bills. Due to this, the group sold the electricity generated from coal to the customers at a higher price.
- The Financial Times examined 30 coal shipments Adani Group imported from Indonesia to India over 32 months between 2019 and 2021. The import records of all these shipments found prices higher than the export declarations. The amount was increased by about ₹582 crore.
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Also read this news related to Gautam Adani…
Gautam Adani will leave the post of chairperson at the age of 70: Will hand over command to sons and cousins in 2030
Adani Group Chairperson Gautam Adani plans to step down at the age of 70, currently he is 62 years old. News agency Bloomberg had quoted an interview as saying that Adani may hand over the command of the company to his sons and cousins in the beginning of 2030. Read the full news…
Hindenburg’s allegation – Adani’s ₹ 2600 crore freeze in Swiss banks: Adani Group said – all claims are false, this is an attempt to bring down our market value.
Hindenburg Research made new allegations against Adani Group on 12 September 2024. Hindenburg said that Swiss authorities have frozen more than $ 310 million (about Rs 2602 crore) from 6 Swiss bank accounts linked to Adani Group. The report states that Swiss authorities have seized this amount as part of a money laundering and securities fraud investigation. Read the full news…
Adani is trending on Google
In the hearing held in the Federal Court of New York, 8 people including Gautam Adani have been accused of fraud and bribery worth billions. After this news, Adani is being searched continuously on Google. If we look at the Google trends of the last 30 days, it is clear that the graph of searching for Adani has increased rapidly.
Source- GOOGLE TRENDS
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