Telangana Govt Cancels Rs 100 Crore Donation For Varsity From Adani Group Amid US Indictment

Amid ongoing bribery allegations against billionaire Gautam Adani, the Telangana government announced on Monday, November 25, that it has decided to halt the Adani Group's donation of Rs 100 crore towards the Young India Skills University.

Telangana Chief Minister Revanth Reddy, speaking at a press conference, stated that his government has not accepted any funds from the Adani Group.

"I and my Cabinet colleagues do not want to be involved in unnecessary discussions and situations that would tarnish the image of the state government or my own. That is why, on behalf of the state government, our official Jayesh Ranjan wrote a letter (to the Adanis)," he explained to reporters.

"Due to the (current) situation and controversies, the Telangana government is not ready to accept the Rs 100 crore donation you (Adani) generously offered," Reddy added.

The letter, addressed to Priti Adani, the chairperson of the Adani Foundation, was sent by Jayesh Ranjan, the special chief secretary of the Telangana government. It stated that the university project had recently secured income tax exemption under Section 80G, which would have facilitated such donations more easily.

However, in light of the recent bribery allegations against Gautam Adani, the Congress-led state government has opted to halt any transfer of funds towards the project.

Gautam Adani, the chairman of the Adani Group, has recently been embroiled in controversy after US prosecutors and the Securities and Exchange Commission (SEC) charged him with bribery and fraud. The allegations involve an alleged bribe of USD 265 million (Rs 2,200 crore) to Indian officials for favourable terms in solar power contracts between 2020 and 2024. The case also includes accusations of fabricating financial records to secure funding from US investors and obstructing investigations.

The Adani Group has denied the allegations, calling them "baseless" and pledging to fight them in court.