The troubles of Gautam Ad. Group are increasing. In fact, the government of ousted Prime Minister Sheikh Hasina in Bangladesh has been recommended to appoint an agency to investigate power deals with various business groups, including India’s Ad. Group. In this regard, the interim government had constituted a review committee, which has now made this recommendation.
7 Project Review Committee
The ministry’s National Review Committee on Power, Energy and Mining has recommended the appointment of a reputed legal and investigative agency to review major power generation contracts signed during Sheikh Hasina’s autocratic rule from 2009 to 2024. The office of chief counsel Muhammad Yunus issued a statement saying the committee is currently reviewing seven major energy and power projects. This includes the 1,234.4 MW coal-based plant of Ad. (Godda) BIFPCL.
BIFPCL is a subsidiary of Ad. Power.
Ad. (Godda) BIFPCL is a wholly owned subsidiary of Ad. Power Limited. The other six contracts include a contract signed with a Chinese company to build a 1,320 MW coal-based power plant. The remaining contracts are with Bangladeshi business groups said to be close to the previous government.
Trouble in America too
Recently, Gautam Ad. has been accused by US prosecutors of being involved in paying bribes of $265 million (about Rs 2,200 crore) to Indian officials in exchange for favorable terms to secure solar power contracts in India. The US Justice Department has accused Gautam Ad., his nephew Sagar Ad. and seven others of bribing officials in Andhra Pradesh, Odisha to buy expensive solar power. The group is expected to generate profits of more than $2 billion over 20 years from these projects.
