Gujarat Congress demands SEBI probe into power purchase deal transactions

Party says excess amount of Rs 3,900 paid to APMuL

Shaktisinh Gohil Shaktisinh Gohil

The Gujarat Congress has demanded an inquiry by market regulator Securities and Exchange Board of India (SEBI) into "excess" payment made by a Gujarat Government company to Adani Power Mundra Limited in a power purchase agreement made between the two.

Congress Rajya Sabha member and state party president Shaktisinh Gohil on Saturday alleged in Ahmedabad that an excess amount of Rs 3,900 crore has been paid to APMuL towards the energy charges in the purchase of coal during five years that ended on March 31, 2023. The government paid around Rs 13,800 during the said period. 

Quoting from the letter dated May 15, 2023 written by GUVNL to APMuL, Gohil said that GUVNL requested the company owned by Gautam Adani Group to refund the excess amount. 

The MP said that as per the power purchase agreement between the two parties, APMuL was supposed to maintain transparency and submit the bills. The amount was to be based on Argus index (deciding the coal prices) or the procurement price of the coal, whichever is less. 

State government spokesperson and minister Rushikesh Patel dismissed the allegations and said these have been made to misguide the people of Gujarat. 

Giving point by point clarification of the allegations, Patel said that the payment will be adjusted with the base rates fixed by the state government and the payment done is interim. The minister also said the letter was quoted out of context. 

Gohil, however, said the letter was written to the Adani Group company after the Hindenburg expose. 

Gohil termed it as a case of money laundering as "excess" amount has been paid and said the burden will have to be borne by the people of Gujarat. 

He sought to know as to under whose instructions more money was paid to the Adani Group company. 

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