Adani Scandal Sparks Legal and Financial Turmoil in India
TL;DR Summary
Former Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy announced plans to sue two vernacular newspapers for Rs 100 crore over false allegations regarding a power purchase agreement between the Solar Energy Corporation of India (SECI) and the state government. Reddy clarified that the agreement, which offers power at Rs 2.49 per unit, involved no third parties and accused the media of damaging his reputation with baseless bribery claims. He emphasized the economic benefits of the deal, contrasting it with previous agreements under Chief Minister N. Chandrababu Naidu.
- Adani deal: Jagan to sue pro-TDP media for Rs 100 cr.. Greatandhra
- Indian banks review Adani exposure in wake of US bribery allegations Reuters India
- The Adani bribery case could upend Indian business and politics The Economist
- Under fire since Adani indictment, Jagan breaks silence on agreements signed when he was CM The Indian Express
- Energy Billionaire’s U.S. Bribery Scandal Shows Risks of India’s Bet on Giant Firms The Wall Street Journal
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