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- Us Regulators Accuse Indian Authorities of Delaying Summons in Gautam Adani Bribery Case
New DelhiA few moments ago
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The company of Adani Group is accused of bribing in the US and misleading American investors for the solar energy project.
The US Securities and Exchange Commission (SEC) has reported in a New York court that Indian authorities have delayed giving legal summons to Gautam Adani and his colleagues.
According to India Today report, SEC said that the Indian authorities have not yet served summons, which is delaying the case. Due to this, the hearing in the case of bribery and fraud of $ 265 million has been stopped.
In fact, Adani Group’s company Adani Green Energy is accused of bribing in the US and misleading American investors for the solar energy project.
Summant was sent in February
Gautam Adani was summoned by the US SEC in February in a bribery and fraud case in the US. The central government has transferred summons to the sessions court of Ahmedabad on 25 February, so that it can be delivered to the Shantivan Farm House in Ahmedabad, Gautam Adani.
These summons have been sent under the Hague Treaty of 1965. Earlier on 23 November, the US SEC had sent summons to Adani to clarify its stand on the allegations. Gautam and Sagar Adani were summoned to respond to SEC within 21 days.
Fraud allegations in America
Last year, 8 people, including Adani in the US, were accused of fraud of billions of rupees. According to the Attorney Office charge sheet, Adani’s company had incorrectly acquired the renewable energy projects in India. For this, Adani was also accused of paying a bribe of $ 250 million, or about Rs 2,029 crore to government officials.
The accused collected money by lying to American investors and banks. The entire case was related to Adani Group’s company Adani Green Energy Limited and another firm. On 24 October 2024, the case was registered in the Federal Court of New York.
Understand what is the whole matter of manipulation and bribery
According to the filing of the US Department of Justice, the Solar Energy Corporation of India i.e. SECI had extracted a contract for supply of 12 GW of energy in the country. SECI is the Renewable Energy Company of the Government of India, which aims to increase the use of solar energy in the country.
Between December 2019 and July 2020, Adani Green Energy Limited i.e. Agel and a foreign firm won the contract. He was released to the letter of Award (LOA).
There was a problem here. SECI was not getting customers for electricity bought from Agel and foreign firm. In such a situation, he is unable to buy electricity from Agel and foreign firm. This would cause losses to Adani’s company and foreign firm.
According to the charge sheet, Gautam Adani, along with 7 people including his nephew Sagar Adani, Vineet Jain, conspired to bribe the officers. So that the state governments can make a power cell agreement with SECI and their solar power agreement gets a buyer.
According to the charge sheet, ‘Gautam Adani met a senior Andhra Pradesh officer several times between 7 August 2021 to 20 November 2021. So that the Solar Power Agreement agreement between Andhra Pradesh Electricity Distribution Company (APEPDCL) and SECI becomes an agreement.
This was followed by an agreement between APEPDCL and SECI. Agel and foreign firm got the contract. After this, the State Electricity Distribution Board of Chhattisgarh, Tamil Nadu, Odisha, Jammu and Kashmir signed contracts for power procurement.
