NEW DELHI: Telangana government on Monday refused to accept Rs 100 crore funding from the Adani Group for the Young India Skills University. State’s special chief secretary Jayesh Ranjan in a letter wrote that he has been instructed by the chief minister Revanth Reddy no to seek transfer of funds in view of recent controversies involving the conglomerate.
“We are thankful to you for committing Rs 100 cr to Young India Skills University on behalf of your Foundation vide your letter dated 18.10.2024.We have so far not asked any of the donors for a physical transfer of funds since the University had not received the IT exemption under section 80G. Though this exemption order has now come recently, I have been instructed by the Chief Minister not to seek a transfer of funds in view of the present circumstances and arising controversies.” Jayesh Ranjan wrote to to Priti Adani, chairperson of the Adani Foundation.
Also read: Gautam Adani charged by US over alleged $250 million bribe plot
Telangana CM Revanth Reddy also said that the state government is not ready to accept Rs 100 crore from the Adani group. “Many companies have given funds to the Young India Skill University. In the same way, the Adani group also gave Rs 100 crores. Yesterday, we wrote a letter to Adani on behalf of govt stating that the state govt is not ready to accept the Rs 100 crores given by Adani group.. I like to reiterate the decision by the state govt to not accept the Rs 100 crores from Adani group,” he said in a statement.
Last week, the Adani Group faced serious charges after US prosecutors alleged that it paid $250 million in bribes to officials to secure solar energy contracts and later sought investments from US investors. The court also issued arrest warrants against Gautam Adani, his nephew Sagar Adani and others.
US indicts Gautam Adani for bribing officials in India, misleading investors; issues arrest warrants
The US prosecutors said that contracts were given to Adani Green Energy and another renewable-energy company listed on the New York Stock Exchange by the Solar Energy Corporation of India, a state-owned entity between December 2019 and July 2020
Additionally, the US Securities and Exchange Commission (SEC) charged Gautam and Sagar Adani with raising funds from US investors through “false and misleading statements.” The SEC alleges they were directly involved in bribing Indian officials to secure contracts benefiting Adani Green.
Meanwhile, the conglomerate responded to the allegations by the US Department of Justice and the US Securities and Exchange Commission and called them “baseless”.
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied. As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty. All possible legal recourse will be sought,” the Adani Group said.
