After the U.S. Department of Justice found a scam operation involving Adani group pertaining to foreign investments malpractice act, the company’s valuation has taken a beating.
In this context, the Telangana government, led by Revanth Reddy has canceled a donation of Rs 100 crore pertaining to the construction of skill university in Telangana by the Adani group.
In light of these developments, Jayesh Ranjan, a senior official in the Telangana government, addressed a letter to Dr. Priti Adani, chairperson of the Adani Foundation. In the letter, he expressed gratitude for the foundation’s commitment of ₹100 crore to the university, as indicated in their correspondence dated October 18, 2024.
Ranjan noted that the university had recently received the Income Tax exemption under Section 80G, which would typically facilitate such donations. However, he conveyed instructions from the Chief Minister to refrain from seeking the transfer of funds at this time, citing the current circumstances and arising controversies.