In Paradise Papers dataset, details of Azure Power becoming a Mauritius entity; their pledge to follow US laws

Azure PowerParadise Papers, a cache of 13.4 million documents, were obtained by German newspaper Süddeutsche Zeitung and were investigated by the ICIJ working in partnership with 96 news organisations, including The Indian Express.Documents in the dataset of the Paradise Papers —a global collaboration on offshore finance done by the International Consortium of Investigative Journalists (ICIJ), and 95 other media partners — contain details about how Azure Power Global Limited was incorporated in Mauritius on January 30, 2015; subsequently got listed on the New York Stock Exchange (NYSE) and had pledged to be in compliance of US laws and regulations.

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According to the US Securities and Exchange Commission (SEC), for a large part of the period of the alleged bribery scheme — 2020-2024 — Azure stock traded on the NYSE. Executives of Azure Power's dominant shareholding company have also been charged for allegedly offering Rs 2,029 crore in bribes to Indian government officials to secure “lucrative solar energy supply contracts.” The SEC has alleged that Azure's share in the bribes paid or promised was one-third, while the remaining two-thirds share was that of Adani’s.Interestingly, it is a 658 page “registration statement” submitted by Azure Power Global Limited after it was incorporated in Mauritius — and contained in the Paradise Papers dataset — that becomes relevant to the bribery scam in which the company has been named. The company — which has described itself as an “emerging growth company” with no business operations of its own has declared that they were developing and implementing “controls and procedures” to ensure that we are in compliance with the FCPA (Foreigners Corrupt Practices Act) and similar laws. Their registration statement for the SEC states, “... any violation of these laws could expose us to administrative, civil or criminal penalties