Telangana Rejects ₹100 Crore Donation from Adani Foundation Amid Bribery Allegations
The Telangana state government has declined a ₹100 crore donation from the Adani Foundation, citing allegations of bribery and fraud against Adani Group chairman Gautam Adani in the United States. Chief Minister Revanth Reddy stated that the decision was made to safeguard the state's "honor and dignity."
Government’s Stand
Revanth Reddy explained the decision on Monday, emphasizing the need to avoid controversies surrounding the Adani Group. "We have not taken a single rupee from anyone. The accusations against Gautam Adani were a key consideration in rejecting the donation," he said.
The move comes after criticism from the Bharat Rashtra Samithi (BRS) and the Bharatiya Janata Party (BJP), who accused the Telangana government of aligning too closely with the Adani Group to attract investments.
Political Fallout in India
The allegations against Gautam Adani have sparked widespread political uproar across India.
Congress Party’s Demand: Rahul Gandhi, leader of the Congress party, has called for an immediate investigation and action against Gautam Adani and those implicated in the bribery scandal.
Neighboring States’ Actions: Andhra Pradesh Chief Minister Chandrababu Naidu announced that his government would take action against Adani if irregularities are found in the state.
International Implications
The bribery allegations, revealed in New York last week, claim that Adani and his associates paid over $250 million in bribes to secure lucrative government contracts. The indictment has had significant repercussions:
Stock Market Impact: Shares of Adani Group companies saw a sharp decline following the revelations.
Global Fallout: Kenyan President William Ruto canceled $2.5 billion worth of contracts with the Adani Group, including agreements related to airports and power projects.
Looking Ahead
The Telangana government’s rejection of the donation reflects growing political and public scrutiny of the Adani Group. With international investigations and political pressure mounting, Gautam Adani faces increasing challenges both in India and abroad.
