Bihar Govt's ₹22,500 Crore Deal Under Fire: Company Capital Questioned
Opposition leader Tejashwi Yadav has raised serious questions about a ₹22,500 crore MoUsigned by the Bihar government, alleging the company has only ₹11 lakh in capital. The deal is in the nuclear sector and was signed earlier this month.
Key takeaways
- Opposition leader Tejashwi Yadav questioned the financial capacity of a company that signed a ₹22,500 crore MoU with the Bihar government.
- Yadav alleged that the company, GRACE, established in February 2026, has a total capital of only ₹11 lakh.
- The MoU, signed on August 6, was for an investment in Bihar's nuclear energy sector.
- Concerns were raised about potential misuse of government land and subsidies by companies with insufficient capital.
- Yadav also sought a progress report on previous MoUs worth over ₹2 lakh crore.
Tejashwi Yadav, the Leader of Opposition in the Bihar Assembly, has criticized the Bihar government's recent Memoranda of Understanding (MoUs), specifically targeting a ₹22,500 crore agreement in the nuclear sector. Mr. Yadav alleged that the company involved possesses a total capital of merely ₹11 lakh, questioning the validity of such a substantial investment claim.
The Rashtriya Janata Dal (RJD) national working president stated that a company with insufficient capital to construct basic infrastructure, like the walls of a house, had committed to a ₹22,500 crore investment. He further questioned the government's lack of transparency regarding previously signed agreements worth over ₹2 lakh crore from 2024, 2025, and prior years.
According to Mr. Yadav, the company in question, Global Renewable Advanced Clean Energy Private Limited (GRACE), was established just five months prior, in February 2026. Its website reportedly lists an authorized capital of ₹10,00,000 and a paid-up capital of ₹1,00,000. Mr. Yadav expressed concern that such entities might obtain government land and subsidies under the guise of investment, potentially defrauding the state.
On August 6, the Bihar Industries Department reportedly signed MoUs totaling approximately ₹51,600 crore in the presence of Chief Minister Samrat Choudhary. GRACE's proposed investment of ₹22,500 crore was earmarked for Bihar's nuclear energy sector.
Mr. Yadav criticized the BJP-led government for what he termed a "blatant lie" and questioned the lack of scrutiny by officials and ministers present during the MoU signing. He suggested that insufficient capital for such ventures could indicate a strategy to secure government resources like land and subsidies, which could then be misappropriated.
He contrasted this with a scenario where genuine companies invest their own capital, stating that the Bihar government would offer full support to such legitimate enterprises. Mr. Yadav concluded by expressing that the people of Bihar would not tolerate companies that create shell entities to acquire state assets and grants before disappearing.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
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