Gautam Adani charged with paying USD 250 mn bribe to Indian officials
Public Lokpal
November 21, 2024
Gautam Adani charged with paying USD 250 mn bribe to Indian officials
NEW YORK/NEW DELHI: Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.
Adani, India's second-richest man, has been charged with bribery and securities fraud in two separate cases brought by US authorities -- a criminal indictment by the US Department of Justice in a New York court that charges him and seven others including his nephew Sagar with paying bribes to unidentified officials of state governments like those in Andhra Pradesh to buy expensive solar power, potentially earn more than USD 2 billion profit over 20 years.
New Delhi-headquartered Azure Power too was part of the alleged bribery scheme, according to the suit.
PTI