'No action will be taken against Adani Green until there is concrete evidence': Chandrababu Naidu

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Andhra Pradesh Chief Minister N Chandrababu Naidu today said that no action will be taken against Adani Green Energy Limited (AGEL) over allegations of bribery until "concrete proof" is established.


"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," Mr Naidu said, speaking at the Telugu Desam Party (TDP) headquarters in Mangalagiri on Wednesday.


The allegations against AGEL stem from an indictment in a United States court. The indictment accuses Gautam Adani, the chairman of the Adani Group, of bribing Indian government officials to secure lucrative solar energy contracts. 


According to the US indictment, Mr Adani allegedly met with a high-ranking official in Andhra Pradesh, referred to as "Foreign Official 1," multiple times between August and November 2021 to advance Power Supply Agreements (PSA) between the Solar Energy Corporation of India (SECI) and Andhra Pradesh's state electricity distribution companies.


Though the indictment does not name the official, filings by the US Securities and Exchange Commission (SEC) allege that Mr Adani met with the Chief Minister of Andhra Pradesh during that period. From May 2019 to June 2024, the Chief Minister of Andhra Pradesh was YSRCP chief YS Jagan Mohan Reddy.


The Adani Group flagged a wrong understanding of the US indictment for the "incorrect" reporting about the bribery charges, stating that it offered no evidence about the alleged exchange of bribes.


"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," said the Adani Group in a statement.
 


(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)