When Hindenburg Research made allegations against Gautam Adani, there was a huge decline in the stock market. This time there are allegations against Adani from America. This time the allegation is of bribery. That too is worth more than Rs 2100 crore. After which again a big fall has been seen in the shares of Adani Group. The market cap of the group has witnessed a shock decline of more than Rs 2.50 lakh crore. In such a situation, it is important to understand what is the whole matter? Apart from Adani Green Energy, which company is associated with this whole matter? What is the whole story behind this? After all, why have Adani been accused of paying bribe? Let us try to understand it layer by layer…
What are the allegations against Gautam Adani?
The biggest question is, what are the allegations against Gautam Adani and his company? According to media reports, Gautam Adani has paid a bribe of more than Rs 2100 crore to Indian officials to get solar energy related projects and contracts for his company Adani Green Energy in America. Besides, Adani is also accused of hiding this fact from those American banks and investors. American prosecutors claim that other senior officials of the company had agreed to pay money to Indian officials to get the contract.
According to the New York Times report, Adani Green Energy tried to mislead by making false statements and raised funds from US and other international investors and American banks by offering bonds in the year 2021. According to US Attorney Brian Peace, a big plan was made to bribe government officials in India to get solar power contracts. It has also been claimed in the media report that in order to win this game of billions of dollars, Gautam Adani had allegedly personally met the government official in this matter.
From when to when was the bribe given?
American prosecutors have claimed that the entire bribe-giving phase lasted for about 4 years. According to the report, bribes were given to Indian officials through wrong routes to get Adani Green and Azure Power global solar projects between 2020 and 2024. The special thing is that from the contract of this solar project, it was expected to earn a profit of 2 billion dollars i.e. more than 16 thousand crore rupees in the next twenty years. All this profit was collected through falsely claimed loans and bonds. According to American Attorney Brian Peace, a secret plan was made to bribe Indian government officials to get contracts worth billions of dollars and after that everyone was kept in the dark.
Who will be investigated?
According to media reports, the Securities and Exchange Commission in America has put seven people under investigation in this matter, including Gautam Adani, his nephew Sagar Adani, American investor Vineet Jain, Azure Power CEO Ranjit Gupta and company advisor Rupesh Aggarwal. Is included in. According to reports from America, Adani had agreed to pay a bribe of about $265 million to Indian government officials to get the contract for Green Energy and to set up the largest solar energy plant in India.
The American agency has started investigating whether Adani Group tried to bribe the officials for its fire and whether it paid money to the officials wrongly to get the contract? According to the report, after the hearing in this case in the American court, warrants have been issued against Gautam Adani and his nephew.
Which project did Adani want to achieve?
Now the biggest question is that because of which project Gautam Adani is in trouble? According to US prosecutors, Gautam Adani’s company recently won a contract to provide 12 gigawatt solar energy to Solar Energy Corporation of India. SECI was not able to find buyers in India to buy solar energy and without buyers this deal was not possible. In such a situation, Adani Green Energy and Azure Power prepared a plan to bribe government officials. According to the report, a part of it has been given to Andhra Pradesh officials.
American prosecutors have claimed that the code was used to hide their role in this entire case. Media reports said that Gautam Adani’s code name was ‘Numero Uno’ or ‘The Big Man’. To carry out this case, the entire conversation was done through encrypted messaging. The special thing is that these two companies had allegedly collected more than 175 million dollars from American banks and investors.
Big fall in Gautam Adani’s shares
Shares of Adani Group fell heavily on Thursday. Shares of Adani Energy and Adani Enterprises fell by 20 percent. The shares of the group’s companies have fallen drastically after American prosecutors accused industrialist Gautam Adani of paying a bribe of $ 250 million to Indian officials in exchange for favorable terms to get solar power contracts in India. On BSE, the shares of the group’s flagship company Adani Enterprises fell by 20 percent, Adani Energy Solutions by 20 percent, Adani Green Energy by 19.17 percent, Adani Total Gas by 18.14 percent, Adani Power by 17.79 percent and Adani Ports by 15 percent. I. Apart from this, the share of group company Ambuja Cements is 14.99 percent, ACC Shares of NDTV fell 14.54 percent, NDTV 14.37 percent and Adani Wilmar 10 percent. Some companies of the group touched their lower limits for the day.
