Gautam Adani Charged with $200 Million Bribe Scheme: US Prosecutors Allege Corruption in Andhra Pradesh

Gautam Adani Charged with Bribery in the US

Billionaire Gautam Adani faces serious charges from US prosecutors. They allege he was part of a plan to bribe Indian officials with over $250 million (around ₹2,100 crore).

The US Securities and Exchange Commission (SEC) claims Adani met with YS Jagan Mohan Reddy, the then-chief minister of Andhra Pradesh, in August 2021. Their discussion focused on the lack of a power supply agreement with the Solar Energy Corporation of India (SECI) and what “incentives” were needed to finalize the agreement.

According to the indictment filed in New York, the bribe payment to the Andhra government was approximately $200 million. Internal records from Adani Green support these allegations. Following the alleged bribe promise, communications from Adani Green and Azure suggested the state agreed to buy power from SECI.

The authorities reported that Andhra Pradesh approved a power supply agreement that would “directly benefit Adani Green and Azure.” Soon after, the Andhra government announced plans to secure 7,000 MW of power from SECI.

The Adani Group responded to these allegations, calling them baseless. They stated, “All possible legal recourse will be sought” against these claims.

This situation highlights significant concerns regarding corruption and accountability in business dealings in India.