Amaravati | Telugu Desam Party, a key ally of NDA, will react only after going through the issue of Adani Group allegedly paying bribes for solar power contracts in Andhra Pradesh, said party spokesperson Kommareddy Pattabhiram on Thursday.
"We need to study the report before coming to a conclusion. It would take two to three days," he told PTI when asked about the party’s reaction.
Adani, India's second-richest man, and seven others, including his nephew Sagar, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years.
Adani Group, however, denied the charges, saying the allegations by US prosecutors are "baseless" and the conglomerate is "compliant with all laws."
Amaravati | Responding to the issue of Adani Group getting indicted by the US Department of Justice for allegedly paying bribes for solar power contracts in Andhra Pradesh during YSRCP rule, the party on Thursday said that they had no direct agreement with Adani.
In a statement, the party said the power procurement of 7,000 MW was approved by AP Electricity Regulatory Commission in November, 2021 after which the Power Sale Agreement (PSA) was signed on December 1, 2021 between Solar Energy Corporation of India Ltd ( SECI) and AP Discoms.
Adani, India's second-richest man, and seven others, including his nephew Sagar, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years.
Adani, in 2021 and 2022, met personally with government officials and offered them bribes to sign power sale agreements with SECI, according to the US Attorney's Office. YSR Congress was in power in Andhra Pradesh during the period under discussion.
"It is necessary to mention that SECI 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 on the state government in the light of the indictment are incorrect," the YSRCP said.
The PPA with SECI was also approved by the Central Electricity Regulatory Commission, it said.
The previous Andhra Pradesh government entered into an arrangement to procure power from SECI to the tune of 7,000 MW at Rs 2.49 per kWh for 25 year period with 3,000 MW commencing in FY 2024-25, 3,000 MW commencing in FY 2025-26 and 1,000 MW commencing in FY 2026-27 with waiver of the ISTS ( Inter State Transmission System) charges, the party said in a statement.
The procurement of power at such a cheap rate would substantially benefit the state with a saving of Rs 3,700 crore per annum and as the agreement is for a period of 25 years and the total benefit to the state on account of this agreement would be immense, the statement added.
New Delhi | The Adani group's indictment in the US over alleged bribery and fraud gave fresh ammunition to opposition parties to demand a joint parliamentary committee probe into the business group's dealings, even as Congress leader Rahul Gandhi sought Gautam Adani's immediate arrest.
Addressing a press conference here, Gandhi claimed that it is now pretty clear and established in the US that the businessman has broken Indian as well as American laws.
Adani should be arrested immediately and interrogated while his "protector" and SEBI chairperson Madhabi Puri Buch should be removed from her post and a probe initiated, the Leader of Opposition in Lok Sabha said.
Taking a jibe at Prime Minister Narendra Modi's 'Ek hain to safe hain' slogan, Gandhi said as long as the prime minister and Adani are together, "they are safe" in India.
"Modi ji will never arrest Adani because in the end he will be the one to get caught. Therefore - 'if we are one, we are safe'," he said in a post on X.
The Adani group denied the charges, saying the allegations by US prosecutors are baseless and that the conglomerate is compliant with all laws. It also said it will pursue all possible legal recourse.
The issue has given fresh impetus to the opposition camp's attacks on the government just ahead of the winter session of Parliament starting November 25, and is likely to dominate the proceedings of both houses.
Congress president Mallikarjun Kharge said a comprehensive JPC probe into all aspects of the Adani group's functioning, including its investments in foreign countries, and institutional erosion in India is the need of the hour.
"This entire vicious nexus, involving cronies, compromised bureaucrats and certain politicians, created by PM Modi and Adani has to be investigated and dismantled," he said in a post on X.
Several opposition parties including the TMC, CPI-M, CPI, AAP and NC stepped up the attack on the business conglomerate, calling for a JPC probe.
Gandhi said the entire opposition is together on the matter and will jointly raise the issue during the session, he said.
"I can guarantee that Adani won't be arrested or investigated in India because the Modi government is protecting him," he said.
TMC general secretary Kunal Ghosh demanded a statement from Prime Minister Narendra Modi on charges of alleged bribery and fraud against the billionaire.
National Conference president Farooq Abdullah said the Centre should take the allegations against Adani group seriously and investigate the matter thoroughly.
The CPI(M) demanded a CBI probe into the entire affair and said the Modi government cannot hide behind a smokescreen anymore. The Left Party said it is shameful that such "large-scale bribery of government officials" had to be exposed not in India but in the United States.
"Bribery of public servants comes under the Prevention of Corruption Act, which is under the remit of the CBI," the Left Party said.
AAP Rajya Sabha MP Sanjay Singh stressed on the need for accountability. "Adani even attempted to enter Delhi's electricity market but failed because then chief minister Arvind Kejriwal stopped them," he said.
"We will not keep quiet and will raise this matter with full force in the upcoming session of Parliament," Singh added.
CPI leader D Raja said "Only through a fair, unbiased probe can the truth be uncovered. In this context, the CPI demands that a joint parliamentary committee be formed to look into the growth, business malpractices and controversies surrounding the Adani Group and their bonhomie with Narendra Modi and the BJP."
The BJP, on the other hand, slammed Rahul Gandhi's attack on Prime Minister Modi as part of his long-running efforts to target its leader and noted that none of the four states named in American courts had a BJP government.
"Law will take its own course," said BJP spokesperson and MP Sambit Patra.
Patra also pointed out that the four states -- Andhra Pradesh, Odisha, Chhattisgarh Tamil Nadu -- where government functionaries were allegedly paid bribes of over USD 250 million to secure favourable deals, were ruled by non-BJP formulations during the period mentioned in the indictment.
While there was no word from SEBI officials, experts pointed out rhe regulator will have to definitely look into it if there are any disclosure and other violations and take necessary action.
Billionaire Gautam Adani has been charged by US prosecutors with allegedly being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.
The bombshell allegations may have a widespread fallout ranging from reputational risk to the conglomerate, inability to raise funds from the US market and the billionaire being forced to restrict his overseas travels to opening a political pandora's box that will give the Opposition another tool to target the government just as Parliament meets for the winter session, starting Monday.
Adani, India's second-richest man, and seven others including his nephew Sagar, have been charged by the US Department of Justice with paying bribes to unidentified officials in Andhra Pradesh and Odisha governments to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years.
Prosecutors said the US started an investigation in 2022. They alleged the group raised USD 2 billion in loans and bonds, including from US firms, on the backs of false and misleading statements.