VIJAYAWADA: Adani Group Chairman Gautam Adani, the second-richest industrialist in India, has faced a significant setback. Adani and seven others have been accused in a U.S. Federal Court of engaging in multi-billion-dollar bribery and fraud. These allegations pertain to paying bribes to multiple states for electricity purchases,” according to the Federal Court.
In response to these accusations, the YSR Congress Party (YSRCP) has clarified its stance. YSRCP released a statement addressing agreements with the Adani Group under previous administrations. It stated that no agreements for electricity purchases were made with Adani during their tenure. The YSRCP emphasized that power procurement was conducted solely through the government-owned Solar Energy Corporation of India Limited (SECI). They noted that electricity was procured at a rate of ₹2.49 per unit, which reportedly reduced the state’s annual financial burden by ₹3,700 crores.
The party also dismissed the U.S. court’s allegations as speculative, questioning how bribery could be claimed when the power purchase agreements were solely with SECI. The YSRCP’s statement reiterated that no direct power agreements exist with the Adani Group.
