New Delhi: Jammu and Kashmir and three four other Indian states have come under scrutiny after the United States indicted Gautam Adani and seven others for allegedly bribing Indian officials to secure solar power contracts.
The indictment alleges that the Adani Group paid $265 million in bribes, with a significant portion directed at officials in Andhra Pradesh, to secure deals with state electricity distribution companies between 2021 and 2023.
According to a report by India Today, the states mentioned in the indictment include Odisha (under Naveen Patnaik’s BJD), Tamil Nadu (under DMK), Chhattisgarh (under Congress), and Jammu and Kashmir. Andhra Pradesh, at the time, was governed by Jagan Reddy’s YSR Congress.
Central to the case is a contract obtained by Adani Green Energy and Azure Power to supply 12 gigawatts of solar energy to the Solar Energy Corporation of India (SECI).
However, SECI faced challenges selling the energy to state governments due to high costs. Prosecutors claim the Adani Group used bribes to persuade states to purchase the energy, concealing this from US banks and investors who funded the project.
The indictment specifies that Adani Group offered $265 million in bribes, including $228 million to a single unnamed official in Andhra Pradesh, referred to as “Foreign Official #1.”
Gautam Adani is alleged to have met this official multiple times in 2021 to secure agreements. Subsequently, Andhra Pradesh’s power distribution companies signed a deal with SECI to purchase 7 gigawatts of solar power, the largest procurement by any state.
Between mid-2021 and early 2022, other states, including Odisha, Jammu and Kashmir, Chhattisgarh, and Tamil Nadu, also agreed to buy solar power.
Prosecutors revealed that encrypted messaging and code names, such as “Numero Uno” for Gautam Adani, were used to conceal the scheme.
US arrest warrants have been issued for Gautam Adani and his nephew, Sagar Adani. Prosecutors intend to involve foreign law enforcement in the case.
The Adani Group has denied the allegations, calling them baseless and vowing to pursue legal remedies. “All possible legal recourse will be sought,” the group stated.
