New Delhi:
Andhra Pradesh Chief Minister N. Chandrababu Naidu today said no action will be taken against Adani Green Energy Limited (AGEL) over bribery allegations until there is “concrete evidence”.
“We cannot withdraw from contracts until there is concrete evidence. No action can be taken until there is concrete evidence. We need more evidence. We are waiting for the outcome of the case in the USA. Concrete action will be taken if there is evidence,” Mr. Naidu said at the Telugu Desam Party (TDP) headquarters in Mangalagiri on Wednesday.
The allegations against AGEL stem from an indictment in a US court. The indictment accuses Gautam Adani, chairman of the Adani Group, of bribing Indian government officials to secure lucrative solar energy contracts.
According to the US indictment, between August and November 2021, Mr Adani met several times with a senior official in Andhra Pradesh, referred to as “Foreign Official 1”, to advance power supply agreements (PSAs) between Solar Energy Corporation India (SECI) and the state-owned electricity distribution companies of Andhra Pradesh.
Although the official's name is not mentioned in the indictment, Securities and Exchange Commission (SEC) filings allege that Mr. Adani met the Andhra Pradesh chief minister during this period. From May 2019 to June 2024, YSRCP chief YS Jagan Mohan Reddy was the chief minister of Andhra Pradesh.
Adani Group pointed to a misreading of the US charge over “false” reporting of the bribery allegations, saying it had provided no evidence of the alleged exchange of bribes.
“The unfounded actions of the US and the reckless false reports have led to significant consequences for the Indian group, such as: “Such as cancellations of international projects, impact on financial markets and sudden scrutiny from strategic partners, investors and the public,” Adani Group said in a statement.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group company.)