US authorities have accused Gautam Adani, his nephew and executive director Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes to secure Indian power supply contracts, and misleading US investors during fundraisings in the country
The commission is alleging they were engaged in hundreds of millions of dollars in bribes to help an Adani company while "falsely touting the company’s compliance with antibribery principles and laws in connection with a $750 million bond offering".
Indian opposition parties yesterday demanded a probe into allegations of wrongdoing by the Adani Group and said they would raise the issue in parliament after its chair Gautam Adani was charged in the US over an alleged bribery scheme.
The Dharavi slum, about three-quarters of the size of New York's Central Park, featured in Danny Boyle's Oscar-winning 2008 movie "Slumdog Millionaire". Its open sewers and shared toilets, close to Mumbai's international airport, stand in contrast to India's development boom.
Prosecutors are digging into whether an Adani entity or people linked to the company, including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project
After starting electricity supply to Bangladesh from the first unit of its plant in Godda in the eastern state of Jharkhand a few days ago, India's Adani Power Limited has said it is expected to commission its second 800 MW unit soon, according to the company statement
The Daily Star contacted Adani Group for clarifications on certain aspects of the PPA and we are publishing the emailed comment from the Adani Group headquarters in Ahmedabad in India ad verbatim.
"It is a punishable offence to sign such a contract -- we believe that our agencies have the ability to identify the corruption in this deal"
Gain is for Gautam Adani and loss for Bangladesh: that is how the electricity purchase deal with the Indian business tycoon may turn out to be
US authorities have accused Gautam Adani, his nephew and executive director Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes to secure Indian power supply contracts, and misleading US investors during fundraisings in the country
The commission is alleging they were engaged in hundreds of millions of dollars in bribes to help an Adani company while "falsely touting the company’s compliance with antibribery principles and laws in connection with a $750 million bond offering".
Indian opposition parties yesterday demanded a probe into allegations of wrongdoing by the Adani Group and said they would raise the issue in parliament after its chair Gautam Adani was charged in the US over an alleged bribery scheme.
The Dharavi slum, about three-quarters of the size of New York's Central Park, featured in Danny Boyle's Oscar-winning 2008 movie "Slumdog Millionaire". Its open sewers and shared toilets, close to Mumbai's international airport, stand in contrast to India's development boom.
Prosecutors are digging into whether an Adani entity or people linked to the company, including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project
After starting electricity supply to Bangladesh from the first unit of its plant in Godda in the eastern state of Jharkhand a few days ago, India's Adani Power Limited has said it is expected to commission its second 800 MW unit soon, according to the company statement
The Daily Star contacted Adani Group for clarifications on certain aspects of the PPA and we are publishing the emailed comment from the Adani Group headquarters in Ahmedabad in India ad verbatim.
"It is a punishable offence to sign such a contract -- we believe that our agencies have the ability to identify the corruption in this deal"
Gain is for Gautam Adani and loss for Bangladesh: that is how the electricity purchase deal with the Indian business tycoon may turn out to be
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