Gautam Adani met Jagan Reddy in 2021, promised $200 million bribe to officials, claims US report

SECI is a public sector entity and arm of the Indian government responsible for implementing Centre schemes related to renewable energy, including funding large solar projects.

According to the order, Gautam Adani allegedly paid or promised a bribe to the Andhra government officials to “cause the relevant Andhra Pradesh government entities to enter into Power Supply Agreements with SECI for the purchase of 7,000 MW of power capacity.”

The US market regulator alleged that the bribe to Andhra Pradesh for the power supply agreement was “significantly larger” than the Odisha Power Supply Agreement.

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The US authorities have alleged that Andhra Pradesh agreed “in principle” to execute a power supply agreement with the SECI that would “directly benefit Adani Green and Azure”.

Within weeks, as the report claims, the Andhra Pradesh government was publicly quoted as saying, “In the Cabinet meeting held last month, it was decided to accept SECI’s offer. After deliberation, the State decided to tap 7,000 MW in the first phase.”

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“In other words, the bribes paid or promised worked,” the report added.

The Adani Group rejected allegations by the US authorities.

“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied,” the conglomerate said in a statement.