NEW DELHI: In his first reaction to the charges leveled against him, former Andhra Pradesh chief minister Jagan Mohan Reddy on Thursday dismissed allegations regarding the payment of bribes to Andhra Pradesh officials by the Adani Group for solar power purchases during his party-led government (19-24). The YSRCP chief said that the deal was purely…
BHUBANESWAR: In a recent court filing, the US Securities and Exchange Commission alleged that Adani Green’s internal documents show huge kickbacks were made or committed to Odisha govt officials to influence decisions regarding a power supply agreement.The SEC complaint read, “According to Adani Green’s records, a payment equal to hundreds of thousands of dollars was…
NEW DELHI: The Securities & Exchange Commission (SEC) complaint in a New York court has said that Solar Energy Corporation of India had hoped to sign the power purchase agreement within 90 days of issuing letters of award to Adani Green and Azure Power in June 2020, but the high tariffs quoted by the companies…
Solar Energy Corporation of India NEW DELHI: Thirteen-year-old Solar Energy Corporation of India (SECI), the little known miniratna PSU, has seen a massive growth over the last 10 years.From an awarded generation capacity of 0.75 gigawatts (750MW) in 2014-15, it has seen the combined capacity soar to 65.3GW, according to data on its website. Over…
US prosecutors have indicted billionaire Gautam Adani and his nephew, Sagar Adani, among others, for their alleged role in a $265 million (Rs 2,000 crore) bribery case to secure solar power supply contracts in India, plunging the edible oil-to-ports giant into a second major controversy in 22 months, after the allegations by short-seller Hindenburg Research.Arrest…
NEW DELHI: Govt-owned Solar Energy Corporation of India (SECI) has banned Anil Dhirubhai Ambani Group‘s Reliance Power and its subsidiaries from bidding for any of its contracts for next three years on charges of submitting a fake bank guarantee (BG).In a statement on its website, the PSU, which is one of the renewable energy implementing…
