India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.

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India's Andhra Pradesh mulls next steps on Adani, if power deal can be scrapped

U.S. charges Adani for $265 million bribes to Indian officials for solar power contracts, leading to major setbacks.

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Andhra Pradesh government mulls next steps on Adani, if power deal can be scrapped

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India's Andhra Pradesh mulls next steps on Adani, if power deal can be scrapped


The Adani Group faced another major setback Tuesday (Nov 26) as global ratings agency Moody's revised the outlook for seven of the group entities from ‘stable’ to 'negative'. The group companies that have been placed on the list are Adani Green Energy, Adani Ports, and Adani Transmission, among others. 

Earlier, another agency Fitch put two of the group companies—Adani Energy Solutions Limited (AESL) and Adani Electricity Mumbai Limited (AEML)—o

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Adani shares in red as Moody's downgrades outlook for seven group companies

By Rishika Sadam HYDERABAD (Reuters) - India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose

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The Andhra Pradesh government is exploring options to maintain its 2021 solar power deal with SECI despite a US bribery scandal involving the Adani Group. Prioritizing investment and job creation, the state prefers revising the deal to establish the plant locally, reducing transmission costs.

The Economic Times

Sahu Jain family

Naidu government explores options to keep SECI solar deal alive amid bribery allegations against Adani group

The state government was ‘digging into all the internal files’ from the previous administration under which the alleged misconduct took place, it said.

Scroll India

Andhra Pradesh mulls terminating power supply contract linked to Adani Group

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India's Andhra Pradesh Mulls Next Steps on Adani, if Power Deal Can Be Scrapped

The southern state will ask the federal government and the Solar Energy Corporation of India to investigate the bribery charges, the sources said

Zawya

India's Andhra Pradesh state likely to suspend Adani power deal, sources say

NEW DELHI (Reuters) – French oil giant TotalEnergies has suspended further investments in the Adani Group following U.S. bribery charges against the Indian conglomerate’s billionaire founder, Gautam Adani. The decision, announced on November 25, comes as part of the fallout from an investigation in which U.S. authorities accuse Adani and seven others of paying $265 million in bribes to Indian government officials. These alleged payments were mad…

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Adani Bribery Fallout: Cancellations and Dropped Investments - IndiaWest Journal News

India's Andhra Pradesh mulls next steps on Adani, if power deal can be scrapped

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