Ahmed Buhari has told a news outlet he is ‘confident of getting back’ the power plant, his ‘baby’, acquired in 2024 by a consortium of a private asset management company and Adani Power while he was jailed for a money laundering case that has fallen through.
New Delhi: Ahmed Buhari, an NRI and former promoter and director of Coastal Energen Power Ltd, has secured a clean slate after an eight-year-long legal battle. A special court in Chennai on Tuesday (May 19, 2026) quashed all pending proceedings against him under the Prevention of Money Laundering Act, 2002 (PMLA), reports the New Indian Express.
Buhari’s legal battle began in 2018 with the Directorate of Revenue Intelligence charging Coastal Energen of having supplied coal of “low…