naidu Archives - ANN Media

Naidu Awaits Solid Evidence in Adani Bribery Case Andhra Pradesh Chief Minister N Chandrababu Naidu has clarified that no immediate action will be taken against Adani Green Energy Limited (AGEL) regarding bribery allegations until "concrete proof" is established. Speaking at the Telugu Desam Party (TDP) headquarters in Mangalagiri on Wednesday, Naidu said, "We cannot back out of contracts unless concrete proof is available. No action can be taken until concrete proof is obtained. We need more proof. We are awaiting the outcome of the case in the USA. Concrete action will be taken if proof is obtained." Allegations Stem from US Court Indictment The controversy arises from a US court indictment accusing Gautam Adani, chairman of the Adani Group, of bribing Indian officials to secure lucrative solar energy contracts. The indictment alleges multiple meetings between Mr. Adani and an Andhra Pradesh official, referred to as "Foreign Official 1," between August and November 2021, to advance Power Supply Agreements (PSA) with the Solar Energy Corporation of India (SECI). Though the official remains unnamed, the US Securities and Exchange Commission (SEC) filings suggest meetings occurred with the Chief Minister of Andhra Pradesh at the time, YSR Congress Party (YSRCP) chief YS Jagan Mohan Reddy, who held office from May 2019 to June 2024. Adani Group Denies Charges In response to the allegations, the Adani Group has dismissed claims of bribery, labeling the accusations as a misunderstanding of the US indictment. The company stated, "The ill-founded US action and reckless false reporting have led to significant repercussions for the Indian conglomerate, such as international project cancellations, financial market impact, and sudden examination from strategic partners, investors, and the public." The group emphasized that no evidence of bribery had been provided in the indictment. What’s Next? Naidu reiterated his commitment to due process, ensuring that action will only follow after verified evidence emerges. As the US case unfolds, all eyes remain on its developments and potential implications for AGEL and the Indian government. This case continues to draw scrutiny, highlighting the complex intersections of international legal proceedings, corporate governance, and political accountability. for more updates follow ANN MEDIA on facebook , X , Instagram and Linkedin