A group led by Adani’s son is visiting Chief Minister Revanth Reddy with the goal of investing in the Congress-run state of Telangana.
The Supreme Court rejected Hindenburg Research’s request for a special investigation panel to investigate allegations of stock price manipulation against the Adani Group concurrently with the meeting.
The Telangana chief minister and a group from the Adani Group met on Wednesday. The delegation was led by Karan, the son of businessman Gautam Adani.
According to reports from the Chief Minister’s Office, the Adani Group has been invited to invest in the state that the Congress Party now controls. The Adani team convened with Adani Aero Space CEO Ashish Rajvanshi and Minister of IT and Industries D Sridhar Babu to deliberate on possible avenues for investment.
According to the chief minister, companies interested in Telangana, including the Adani Group, would get from the state government the facilities and incentives that are required.
The business group has expressed a desire to build a data center and aerospace park in the state. In neighboring Andhra Pradesh, the business is constructing the largest data center in the country, a 300-MW facility, with the goal of reinventing internet services.
The meeting is slated to take place the day after Hindenburg Research’s application for a special investigative team to look into claims of stock price manipulation against the Adani Group was denied by the Supreme Court.
The Center has been accused by the Congress, led by Rahul Gandhi, of supporting Adani.