Balineni Srinivasa Reddy, a relatively low-profile figure in national politics, is suddenly at the center of a nationwide controversy.
A five-time member of the Legislative Assembly (MLA) from Ongole in Andhra Pradesh and relative of former chief ministers the late Y S Rajasekhara Reddy and Y S Jagan Mohan Reddy, Srinivasa Reddy's political moves have long been watched closely within state circles. In September 2024, he severed his ties with Jagan and the YSR Congress Party (YSRCP), defecting to Pawan Kalyan's Janasena Party.
Recently, Srinivasa Reddy—who was energy minister in the previous YSRCP-led government in Andhra Pradesh—revealed a dramatic behind-the-scenes account of a now controversial agreement signed between the state and Solar Energy Corporation of India (SECI) in 2021.
He claimed that he had been abruptly awakened at 1 am and pressured into signing the agreement—now at the heart of corruption allegations—but he refused, citing a lack of clarity and discussion. "Sensing something wrong, I refused to sign the agreement as there was no clarity or proper discussion on the matter," said Srinivasa Reddy, adding the Cabinet later approved the deal.
His comments came days after the US Securities and Exchange Commission's (SEC's) $250 million bribery allegations involving the Adani group's founder and chairman, Gautam Adani, and seven others in connection with projects under Adani Green Energy Limited (AGEL).
This story is from the December 02, 2024 edition of Business Standard.
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This story is from the December 02, 2024 edition of Business Standard.
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