Sept 12: Indian businesses in Bangladesh, including the Adani Group which has sought clearance of its power dues, face scrutiny from Nobel laureate Muhammad Yunus-led interim government, The Indian Express has reported.
The development comes almost a week after Moneycontrol reported that Adani Group requested the government to expedite the clearance of $800 million that the Bangladesh Power Development Board (BPDB) owed for power supply.
Dhaka wants to check the terms of the contract and whether the prices being paid for the power supply is justified, the Indian Express report cited a senior government official as saying.
"There will be scrutiny of Indian businesses like the Adani business… what kinds of contracts have been signed, what are the terms and conditions, one cannot have a foreign company not follow the law of the land," the report quoted the official, who didn't wish to be named, as saying.
Apart from apart from Adani Power, several Indian firms, including PTC India, NVVL Ltd and Semcorp Energy India, supply power to Bangladesh. Moneycontrol couldn't verify the report independently.
The average power tariff by Indian firms is 8.77 Bangladeshi Taka, while the Gautam Adani-led firm provides it 14.02 Bangladeshi Taka. As reported by Moneycontrol, Adani Group said it would continue to supply power but pressed for its dues to be settled to avert a crisis.
Adani Power's 1,600 MW Godda plant in Jharkhand has a 100 percent supply contract with BPDB, with an average monthly billing of $90 to $100 million. —Moneycontrol (India)
