Adani's Alleged Bribery Scandal Gautam Adani and his company faced allegations of a multi-billion dollar bribery scam involving government officials to secure energy contracts. The accusations included offering bribes, obstructing investigations by destroying evidence, and misleading investors about anti-bribery practices. US prosecutors revealed detailed 'Bribe Notes' documenting the amounts paid per megawatt for electricity deals across Indian states.
History of Controversies Surrounding Adani Group The Adani Group has been embroiled in numerous controversies over the years including alleged land scams, tax evasion through shell companies, coal scams, and questionable airport acquisitions. These issues predate recent scandals like the Hindenburg report but highlight recurring patterns of financial misconduct linked to public losses worth billions.
Solar Energy Contracts Under Scrutiny In 2020-21, Solar Energy Corporation awarded massive solar development projects to Adani Green Energy despite high energy prices deterring buyers from state power companies. To ensure contract success amidst resistance due to pricing concerns, it is alleged that substantial bribes were offered at both state-level negotiations as well as intermediary PSU involvement.
'Bribe Notes' Evidence Unveiled by Prosecutors 'Bribe Notes,' allegedly maintained meticulously by Sagar Adani documented specific payments made during these transactions detailing recipients among regional/state officers alongside corresponding benefits promised back such documentation forms critical prosecution material against accused parties within ongoing legal proceedings abroad (US jurisdiction).