Gautam Adani and his nephew Sagar Adani have petitioned a US court to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC) over a 2021 bond sale by Adani Green Energy Ltd. The Adanis argue the case is outside US jurisdiction, as the securities were issued in India and sold through non-US underwriters.
In a stock exchange filing, Adani Green Energy Ltd, which is at the centre of the bribery allegations, said reports claiming that the three have been charged with FCPA violations "are incorrect"
Adani Green Energy Ltd (AGEL) said the plant has a 25 years power purchase agreement with the Uttar Pradesh Power Corporation Ltd (UPPCL) at Rs 3.07/kWh
With this acquisition, AGEL will increase its operating renewable capacity to 3,470 MW with a total renewable portfolio of 15,240 MW, Adani Green said in a statement.
