Gautam Adani met ex Andhra CM Jagan Reddy to offer $200 million bribe, alleges US securities panel
The revelation has been made in a complaint filed by the US Securities and Exchange Commission.
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“Foreign Official #1” is how the indictment order by the United States identifies a high-ranking official in Andhra Pradesh whom Gautam Adani is claimed to have met personally in August 2021 to allegedly offer bribes to get solar contracts.
The indictment order does not reveal the official’s name.
But a complaint filed by the United States Securities and Exchange Commission in November, of which Scroll and The News Minute have a copy, states that the official was the “Chief Minister of Andhra Pradesh”, who at the time was YS Jagan Mohan Reddy.
The complaint, which was seeking a jury trial in the case, alleged: “In August 2021, Gautam Adani met personally with the Chief Minister of Andhra Pradesh about the fact that Andhra Pradesh had not entered into a Power Supply Agreement with SECI and the ‘incentives’ needed to cause Andhra Pradesh to do so.”
The SECI or Solar Energy Corporation of India is a central government firm that had awarded tenders to the Adani Group and Azure Power in 2019 and 2020 to supply 12 gigawatts of solar-generated electricity at a specified price. The SECI, in turn, needed to find state power companies that would be willing to buy the electricity at that price. According to US investigators, after SECI was...
