‘We are keeping an eye on the relations between the two countries…’, White House’s statement on Adani case – Adani Case Solar Energy Projects Contract Bribe America US white house on Adani Case US India Relation ntc
Now the White House’s statement has come amidst allegations of veteran businessman Gautam Adani offering bribe to get contracts for solar energy projects. The White House says that we are aware of these allegations.
White House Press Secretary Karine Jean Pierre said that we are keeping an eye on this matter. Only America’s Securities and Exchange Commission (SEC) and Department of Justice (DoJ) will be able to provide necessary information regarding these allegations, but I will talk about the impact of this matter on the relations between India and America.
He said that relations between India and America rest on a very strong foundation. This is linked to the people-to-people ties of the two countries and our bilateral cooperation. We will keep an eye on this matter, the way we keep an eye on other matters. But only the Securities and Exchange Commission and the Justice Department will be able to give any kind of response on this matter. But I would like to say once again that relations between India and America are based on a strong foundation.
Let us tell you that Gautam Adani is surrounded by new allegations. Bribes amounting to approximately Rs 2,250 crore to Indian officials to get contracts for solar energy projects in India. Adani Group had raised funds for these projects from American investors, which is why this case has come against them in the American court. The group was expected to earn a profit of about $2 billion from these projects in 20 years.
The main actors in this entire matter are Gautam Adani, Chairman and Founder of Adani Group, Sagar Adani, Executive Director of Adani Green Energy, Ranjit Gupta, CEO of Azure Power, Rupesh Aggarwal, Advisor in Azure Power, American issuer. According to the US indictment, Adani Group and the American issuer had won a contract to provide 12 gigawatts of solar power to the state-owned Solar Energy Corporation of India (SECI), but SECI could not find buyers in India to buy the solar power. The deal could not go ahead without buyers and both companies were at risk of huge losses. Therefore, Adani Group and Azure Power offered bribes to Indian government officials.
