Andhra Pradesh Rethinks Adani Power Deal Amid U.S. Legal Scandal

Andhra Pradesh is scrutinizing a power contract associated with the Adani Group after its founder was charged in the USA for bribery. Adani allegedly paid bribes to secure solar supply deals across multiple states, including Andhra Pradesh. The state government is investigating possibilities to annul the contract.

The government of Andhra Pradesh is reassessing a power contract connected to the Adani Group, after the company's founder was accused of bribery in the United States, as revealed by a senior official to Reuters.

U.S. prosecutors have charged Gautam Adani and seven others with orchestrating a scheme to pay $265 million in bribes to unnamed Indian officials for solar power contracts in several regions, including Andhra Pradesh. A significant portion of the alleged bribes was reportedly intended to influence local electricity distribution firms.

State Finance Minister Payyavula Keshav announced the government is thoroughly reviewing past administrative files to assess the potential for contract cancellation. The investigation follows serious allegations that are challenging Adani, disrupting the group's financial standing, and prompting business partners to reconsider their involvement.

(With inputs from agencies.)