Adani group tried to enter Delhi's power sector but Kejriwal stopped them: AAP's Sanjay Singh

The billionaire industrialist has been charged by U.S. prosecutors for allegedly being part of a scheme to pay over $250 million (about ₹2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts

The Adani group tried to enter Delhi's power sector but was stopped by then Chief Minister Arvind Kejriwal, AAP Rajya Sabha MP Sanjay Singh claimed Thursday (November 20, 2024) and stressed the need for accountability after industrialist Gautam Adani was charged in the U.S. for alleged bribery and fraud.

The billionaire industrialist has been charged by U.S. prosecutors for allegedly being part of a scheme to pay over $250 million (about ₹2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.

This was concealed from the U.S. banks and investors from whom the Adani group raised billions of dollars for the project, the prosecutors have alleged.

The Adani group denied the charges, saying the allegations by U.S. prosecutors are baseless and the conglomerate complies with all laws. It also said that all possible legal recourse will be sought.

In a press conference, Mr. Singh claimed that Adani Green Energy secured power supply contracts in several states, including Gujarat, Madhya Pradesh, Andhra Pradesh and Rajasthan, through unethical means.

"Adani even attempted to enter Delhi's electricity market but failed because then chief minister Arvind Kejriwal stopped them,” he said while warning people that if the BJP gains power in Delhi, electricity costs could surge.

"We will not keep quiet and will raise this matter with full force in the upcoming session of Parliament," Mr. Singh added.

Reacting to the charges made by the U.S. prosecutors, a spokesperson of the Adani group said, "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 spokesperson pointed to to U.S. Department of Justice statement that said, "The charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty."

"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," the spokesperson added.

The issue is expected to dominate discussions as Parliament's Winter Session begins on Monday (November 25, 2024).

Published - November 21, 2024 05:09 pm IST