Telangana government says no to Rs 100 crore funding from Adani Foundation | India News – Times of India

NEW DELHI: The Telangana government on Monday refused to accept Rs 100 crore funding from Adani Group for the Young India Skills University. The state’s Special Chief Secretary Jayesh Ranjan wrote in a letter that he has been instructed by Chief Minister Revanth Reddy not to seek cash transfer in view of the recent controversies involving the conglomerate.
“We are grateful to you for pledging Rs 100 cr to Young India Skills University on behalf of your foundation, vide your letter dated 18.10.2024. We have not asked any of the donors for any physical cash transfer so far as the university had not done so I have received the IT exemption under section 80G. Although this exemption order has now been issued recently, I have been instructed by the Chief Minister to, in view of the current circumstances and the resulting resulting controversies, not to request a transfer of money.’ Jayesh Ranjan wrote a letter to Priti Adani, chairman of the Adani Foundation.

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 money to Young India Skill University. Similarly, Adani group has also given Rs 100 crores. Yesterday, we wrote a letter to Adani on behalf of the government stating that the state government is not ready to donate the Rs 100 crores given by the Adani group. I would like to reiterate the decision of the state government not to accept the Rs 100 crores from the Adani group,” he said in a statement.

Last week, Adani Group faced serious charges after U.S. prosecutors alleged it paid $250 million in bribes to officials to win solar power contracts and later solicited investments from U.S. investors. The court also issued arrest warrants against Gautam Adani, his cousin Sagar Adani and others.
U.S. prosecutors said that between December 2019 and July 2020, contracts were given to Adani Green Energy and another renewable energy company listed on the New York Stock Exchange by the state-owned Solar Energy Corporation of India.
Moreover, the US Securities and Exchange Commission (SEC) has accused Gautam and Sagar Adani of raising money from US investors through ‘false and misleading statements’. The SEC alleges that they were directly involved in bribing Indian officials to win contracts in favor of Adani Green.
Meanwhile, the conglomerate responded to the allegations made by the US Department of Justice and the US Securities and Exchange Commission, calling them “baseless”.
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green are baseless and denied. As the U.S. Department of Justice itself has stated, “the allegations in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty. All possible legal action will be taken,” the Adani Group said.