The former chief minister of Andhra Pradesh denied accusations of bribery on Thursday and dismissed claims of any connection with the Adani Group in the state’s solar power purchases during his tenure.
Jagan Mohan Reddy, addressing the corruption allegations for the first time, denied any state role involving Adani in the deal. He clarified that the arrangement was strictly between the government and the Solar Energy Corporation of India, which is responsible for granting power supply contracts to companies, with no involvement of any third party.
“Adani meeting me isn’t something unusual. During my time in office, he met me several times. He has ongoing projects in Andhra Pradesh,” Reddy stated during a press conference.
The southern state is expected to put a hold on a power-purchase agreement connected to the Adani Group following Gautam Adani’s indictment in the United States. According to reports, the state plans to urge the SECI and the central government to launch an investigation into the allegations.
American officials have alleged that Gautam Adani, his nephew Sagar Adani, who is the executive director, and Vneet S. Jaain, the managing director of Adani Green, were involved in a plan to pay $265 million in bribes to win Indian power-supply contracts. They are also accused of deceiving U.S. investors while raising funds in the country.
A U.S. indictment revealed that around $228 million in alleged bribes were given to a government official. These payments were reportedly made to persuade Andhra Pradesh’s state electricity-distribution companies to agree to buy power.
The Adani Group has strongly rejected the accusations from the U.S. Department of Justice and the Securities and Exchange Commission, calling them completely unfounded. The company stated that it strictly follows all legal requirements and is fully compliant with the law.