Adani US Indictment Bribery Allegations: No Direct Agreement Involved, Says Jagan Reddy
Adani Andhra bribery: YSRCP clarifies its position on the bribery charges against Adani US, refuting the claim that the Adani Group and Andhra Pradesh's DISCOMs had a direct arrangement.
Adani US Indictment Bribery Allegations: No Direct Agreement Involved, Says Jagan Reddy
With the US court accusing Gautam Adani, Sagar Adani (his nephew) and six others of allegedly bribing high-ranking Andra Pradesh officials, the Yuvajana Sramika Rythu Congress Party (YSRCP) has finally broken its silence.
According to the accusation in the case, Adani paid Rs. 1,750 crore to AP and Odisha government officials in order to buy expensive solar power.
Responding to the allegation, the YSR Congress Party said, “It is necessary to mention that SECI (Solar Energy Corporation of India) is a Government of India enterprise. There is no direct agreement between AP DISCOMs and any other entities, including those belonging to the Adani group. Therefore, the allegations made against the state government in the light of the indictment are incorrect."
Explaining the agreement with SECI when Jagan Mohan Reddy was the Chief Minister, the party stated, "The government entered into an agreement for a 25-year period to procure power to the extent of 7000 MW at Rs. 2.49 per kWh, with 3000 MW commencing in 2024-25, 3000 commencing in 2025-26 and 1000 MV commencing in 2026-27 with the waiver of ISTC charges.
On the other hand, the Adani Group has also called the accusations brought by the US Securities and Exchange Commission and the US Department of Justice "baseless."
