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- Telangana CM Revanth Reddy; Gautam Adani Group Donation | Skill University
Hyderabad1 hour ago
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Adani Group had announced to give Rs 100 crore for Young India Skill University.
Telangana government has rejected Adani Group's offer of donation of Rs 100 crore. This donation was being given for Young India Skill University. Chief Minister Revanth Reddy gave this information in a press conference on Monday.
Reddy said- The decision has been taken due to the current controversy of Adani Group. Taking donations can harm the state government and my own image.
A letter has been sent by the government to Adani Group on Sunday itself. In it, Adani Group has been requested not to transfer Rs 100 crore to the university.
Many companies have given funds to the university, but the Telangana government has not yet taken a single rupee into its account from any group.
Jayesh Ranjan, Special Chief Secretary, Telangana Government, has written a letter to Preeti Adani, wife of Gautam Adani and chairperson of Adani Foundation.
Allegations of fraud on Adani, claim- ₹ 2200 crore bribe offered for contract Eight people including industrialist Gautam Adani have been accused of fraud worth billions of rupees in New York, America. Gautam Adani, his nephew Sagar Adani, Vineet Jain, Ranjit Gupta, Cyrille Cabaniss, Saurabh Aggarwal, Deepak Malhotra and Rupesh Aggarwal were made accused in the hearing on November 20 in the Federal Court of New York.
According to Reuters report, arrest warrants have also been issued against Gautam Adani and Sagar. The United States Attorney's Office said that Adani paid or was planning to pay bribes of $ 265 million (about Rs 2200 crore) to Indian officials to obtain contracts related to solar energy in India.
The entire matter is related to Adani Green Energy Limited and another firm. Adani Group has termed all the allegations as baseless.
American investors' money, hence the case there Adani is accused of lying to American investors and banks to collect bribe money. The case was registered in America because the money of American investors was invested in the project and under American law, giving that money as bribe is a crime. Read the full news…
Rahul said – PM Modi is protecting Adani, BJP's answer – mother and son themselves on bail Rahul Gandhi had held a press conference on November 21 on the allegations of corruption against Gautam Adani. He had said that Adani ji is doing a scam of Rs 2 thousand crores and is roaming outside because PM Modi is protecting him. Gautam Adani has committed crimes in America, but nothing is being done against him in India.
In response to this, BJP spokesperson Sambit Patra had said in a press conference that Rahul Gandhi is tarnishing the image of Prime Minister Modi. He raised the Rafale issue in 2019, but later he had to apologize in the Supreme Court. Rahul Gandhi said in the press conference that Congress is doing the work of the judiciary, while the mother and son (Sonia Gandhi and Rahul Gandhi) themselves are on bail. Read the full news…
Gautam Adani's net worth decreased by ₹1.02 lakh crore in a day Adani Group Chairperson Gautam Adani's net worth dropped by $12.1 billion (about Rs 1.02 lakh crore) in a day to $57.7 billion (Rs 4.87 lakh crore) due to the fall in shares on November 21 following allegations of bribery and fraud.
Shares of 9 out of 10 companies of Adani Group closed with decline and 1 with rise. Adani Enterprises had fallen the most by 23.44%. Whereas, Adani Green Energy shares closed with a fall of 18.95%.
Other controversies related to Gautam Adani…
First controversy: Hindenburg Research accused of money laundering It is from January 2023. Gautam Adani's flagship company Adani Enterprises announced a follow-on public offer of Rs 20,000 crore. This offer was to open on January 27, 2023, but just before that, on January 24, 2023, Hindenburg Research released a report, in which Adani Group was accused of money laundering and share manipulation.
By January 25, the market value of the group's shares reduced by about $ 12 billion (about Rs 1 lakh crore). However, Adani denied allegations of any wrongdoing. In such a situation, Adani Group also canceled its follow-on public offer of Rs 20,000 crore. The Supreme Court formed a 6-member committee to investigate the case and SEBI also investigated the case.
After the court's decision, Adani Group Chairman Gautam Adani had said, 'The court's decision shows that truth has won. Satyamev Jayate. I am grateful to those who stood with us. Our contribution to India's growth story will continue. Jai Hind.'
Second controversy: Allegation of selling low-grade coal as high-grade A month ago, the Financial Times, citing a report by the Organized Crime and Corruption Reporting Project, had claimed that in January 2014, Adani Group had purchased 'low-grade' oil from an Indonesian company at a reported price of $28 (about Rs 2360) per tonne. 'Purchased coal.
The report alleges that this shipment was sold to Tamil Nadu Generation and Distribution Company (TANGEDCO) as high quality coal at an average price of $91.91 (about Rs 7750) per tonne.
Adani Group was earlier accused of rigging the coal import bill.
- Financial Times in one of its reports alleged that Adani Group imported coal from Indonesia at a lower rate and showed higher prices by rigging the bills. Due to this, the group sold the electricity generated from coal to the customers at a higher price.
- The Financial Times examined 30 coal shipments Adani Group imported from Indonesia to India over 32 months between 2019 and 2021. The import records of all these shipments found prices higher than the export declarations. The amount was increased by about ₹582 crore.
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Also read this news related to the controversy…
Claim- American agency cannot send summons to Adani, notice can be sent only through political channel.
It is not within the power of the US Securities and Commission (SEC) to send summons to Adani Group Chairman Gautam Adani on charges of bribery and fraud worth billions of rupees. This claim has been made in some media reports. It says that the summons will have to be sent through proper diplomatic channel. Read the full news…
Bangladesh will investigate the power deal with Adani, the agreement was signed when Hasina was PM.
The troubles of Adani Group, which is surrounded by allegations of bribery in America, are increasing. It has been recommended to set up an agency to investigate the power agreement signed with Adani Group in Bangladesh when Sheikh Hasina was the PM. Read the full news…
