INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
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THE ARBITRARY BILLS MUST BE BROUGHT TO AN END-SAM AMADI.

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            According to sources,Chairman ofNigerian Electricity Regulatory Commission {NERC},Chief Sam Amadi,after the monthly meeting with Distribution and transmission companies said ''The arbitrary bills must be brought to an end.NERC has underlined the importance of following the methology of estimated billing.We have made it very clear that it is the responsibilities of the DISCOs to meter the customers,even though we have time gap to bridge the metering deficit but we want to see real action on that.We have also insisted that in the interim,before everybody is metered,the reckless estimation must stop immediately,and that means three things,one for customers,who have meters but not post paid meters,they have to go and read those meters,and for those who do not have any type of meter at all,NERC,has provided a methology that requires you to look at the amount of power you put on the feeder and that should be bench marked with those who have meters and you see how you do your estimation.What is going on now really in some places is not estimation,it is arbitral because estimation is based on some formula''.

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