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Pact signed in interest of state: YSRCP backs ex-CM
Hindustan Times
|November 22, 2024
The US Securities and Exchange Commission (SEC) has alleged that Gautam Adani paid or promised $200 million in bribes to Andhra Pradesh government officials in 2021 to secure a power purchase agreement, while the state's then-ruling party led by YS Jagan Mohan Reddy maintains the deal was legitimate and beneficial for the state.
According to the SEC complaint filed in New York's Eastern District Court, Adani met with then-Andhra CM Reddy in August 2021 regarding power supply agreements with the Solar Energy Corporation of India (SECI). The filing alleges that "at or in connection with that meeting", Adani paid or promised bribes to state officials to facilitate agreements for 7,000 MW (7GW) of power capacity.
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