Modi’s Ally Says He Can’t Scrap Adani Deal Without Proof, PTI Reports

Swati Gupta
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The chief minister of India’s Andhra Pradesh state said his government can’t scrap power purchase agreements involving Adani Group, which are at the center of a bribery investigation by the US, until there’s solid proof of wrongdoing, the Press Trust of India reported.

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Any immediate cancellation of the deal would have legal and other complications, PTI cited Chief Minister N Chandrababu Naidu as saying. Officials are awaiting proper documentation to assess whether there was any corruption involved, he told reporters this week, according to PTI.

Naidu is a key coalition partner in Prime Minister Narendra Modi’s government. US prosecutors in November indicted billionaire Gautam Adani — who is considered a close ally of Modi — and other senior executives in an alleged $250 million bribery plot to win solar energy contracts, and concealed the plan from US investors when seeking to raise funds from them.

Adani Group has denied allegations of misconduct by its executives and said it would defend itself in court.

The indictment cites alleged bribery in deals made in various states, including Andhra Pradesh, before Naidu’s party took control of the regional government in June. The power supply agreements involved Solar Energy Corp. of India and the state’s power distribution company.

Some media reports had suggested the state’s power purchase deal would be suspended following the US charges.

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