Tag: Adani

BRS, AAP, Shiv Sena-UBT stage walkout from RS after chair rejects notices on Adani row

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New Delhi: Members of the Aam Aadmi Party, Shiv Sena Thackeray faction and Bharat Rashtra Samithi (BRS) on Wednesday staged a walkout from the Rajya Sabha after their adjournment notices were disallowed by the chair.
Soon after laying of papers, Chairman Jagdeep Dhankhar said he has received four notices under Rule 267 from BRS member K Keshava Rao, AAP member Sanjay Singh and Shiv Sena members Sanjay Raut and Priyanka Chaturvedi and disallowed the same.
Rao stood up and raised objection to the Rajya Sabha chairman’s remarks on Tuesday on their boycott of the House.
Sanjay Singh also rose to seek a discussion on the Adani issue but was not allowed by the chair as their notices were disallowed.
Soon, the BRS, Sena and AAP members staged a walkout from the House.
The House started the discussion on the motion of thanks to the president’s address as there was no Zero Hour and Question Hour. The discussion on the motion of thanks would continue without lunch break.
“I have received four notices under Rule 267 from Sanjay Raut, K Keshava Rao, Sanjay Singh, Priyanka Chaturvedi. I reiterate my stand. I have carefully gone through them. I do not find the notices in order. I am constrained not to allow them,” the chairman said.
On BRS member Rao’s anguish over the chairman’s remarks made on Tuesday, he said, “The kind of aggressive body language you are reflecting is most unfortunate. You have perhaps not had the occasion to go through what I had said yesterday with full sense of sublimity, sobriety and seriousness.”

Asking him to take his seat, he said, “This is not the way we conduct this House. What I said is on record, you can take recourse to rules. This is not the way to do it. I have conveyed my sentiments and these are the sentiments of millions of people.”
Dhankhar said for the first time in this country, a history of the “wrong type” has been created by engaging in a proclaimed boycott of the President.
“I would urge the members, we are sending a very dangerous signal to people. Their anger is beyond tolerance. Every time in the morning they see this spectacle of the House being plunged into disorder as part of strategy,” the chairman said.
AAP, BRS members created uproar by raising slogans of “PM sadan mein aao. jawaab do. JPC se jaanch karao (PM should come to the House and answer and JPC probe should be ordered)” and later staged a walkout.
They later held a demonstration in front of the Gandhi statue in Parliament premises.
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#BRS #AAP #Shiv #SenaUBT #stage #walkout #chair #rejects #notices #Adani #row
( With inputs from www.siasat.com )

February 8, 2023
‘No pressure’: Hyderabad’s GVK Group rebuts Rahul’s statement on Adani

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Hyderabad: Business conglomerate GVK Group on Wednesday categorically said there was no “extraneous pressure” from anyone to sell its stake in Mumbai airport as alleged by Congress leader Rahul Gandhi.
The company’s comments came a day after Gandhi alleged in Lok Sabha that “Mumbai airport, was taken away from GVK using agencies such as the CBI and the ED, and was given to Adani by the Government of India”.
“GVK reiterates that the decision to sell its stakes in Mumbai Airport to Adani, was taken by the management and there was absolutely no question of any extraneous pressure being exerted on us,” GVK Group spokesperson told PTI.
Adani Group, which is currently in the eye of a storm over the recent report by short-seller Hindenburg Research related to its company’s business dealings, took over the management of the Mumbai airport from GVK Group in July 2021.
While explaining the circumstances that led to the sale of the airport, GVK Group Vice Chairman Sanjay Reddy told a TV channel that it was looking to raise funds for the airport business.
Reddy said that at that time, Adani Group founder-chairman Gautam Adani approached him saying he had a lot of interest in the airport and whether GVK Group was willing to do a transaction with him.
“… He (Adani) said that he will assure that we will conclude the entire transaction in one month which was very important for us. So, from that perspective, whatever we did was in the interest of the company and the lenders who we had to repay and therefore, we had to close the transaction with Adani because we didn’t see any light of day with the other investors,” Reddy said.
While leading the Opposition attack over the Adani-Hindenburg issue in Lok Sabha on Tuesday, Gandhi alleged that the government tweaked rules in favour of Adani and said the clause that no one without any prior experience would be involved in the development of airports was done away with.

“This rule was changed by the government and Adani was given six airports. After that, India’s most strategic, profitable airport, Mumbai Airport, was taken away from GVK using agencies like the CBI, ED, and was given to Adani by the Government of India,” he alleged.
In July 2021, Adani Enterprises Limited said Adani Airport Holdings Ltd (AAHL), the flagship holding company of Adani Group’s airport business, will hold nearly 98 per cent stake in GVK Airport Developers Ltd (GVKADL) pursuant to the rights exercised by it as a lender to the company.
AAHL took over the management control of Mumbai International Airport Ltd (MIAL).
GVKADL is the holding company of GVK Airport Holdings Ltd (GVKAHL) which holds 50.50 per cent equity stake in MIAL. The latter holds 74 per cent equity stake in Navi Mumbai International Airport Ltd.
(Except for the headline, this story has not been edited by Siasat staff and is published from a syndicated feed.)
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#pressure #Hyderabads #GVK #Group #rebuts #Rahuls #statement #Adani
( With inputs from www.siasat.com )

February 8, 2023
This man topi-pehnau-ed this wonderful nation: Mahua Moitra on Adani in LS

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New Delhi: TMC MP Mahua Moitra on Tuesday launched a stinging attack on the government over the Adani-Hindenburg issue and said the billionaire businessman had ‘topi-pehnau-ed (duped)’ the country.
While participating in the debate on the ‘Motion of Thanks to the President’s Address’ in Lok Sabha, Moitra, without naming Adani, said that a famous person whose name starts with ‘A’ and ends with ‘I’ and is not Advani, who stinks of crony capitalism, had duped everyone.
Soon after she concluded her speech, there were angry exchanges between Trinamool Congress (TMC) and BJP members. Moitra was heard using certain objectionable words to which the Chair objected and urged members to avoid cuss words.
Parliamentary Affairs Minister Pralhad Joshi asked Moitra to apologise out of morality and said if she does not it would reflect on her culture.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had “topi-pehnau-ed” the government.
She demanded that an enquiry be ordered against the activities of the Adani group.
Beginning her address by quoting from President Droupadi Murmu’s address, Moitra said, “Every word I utter is going to be an oblation and offering a truth into my ‘maha yagna’ of nation building.”
“I want to start off by saying as an ex-investment banker, I want companies to thrive. But I want honest, hardworking Indian companies to strive and not trapeze artists. As an MP colleague of mine likes to say the Chair always asked me not to get angry. I will not be angry for what I have to say. I will only say that we’ve all been fooled,” she said.

Moitra also alleged that the businessman gives the impression that doing things for him means that one would be in the prime minister and home minister’s good books.
Referring to a statement by the Adani group in which it had said that short-seller Hindenburg’s report was a calculated attack on India, she said, “The pride of India is not the wealth of one individual, pride of India lies in the robustness of its institutional structures.”
She said a company which is in infrastructure makes five to 15 per cent returns if they are lucky and if they get everything right, but the multiple with which this company ‘A’ was trading was absolutely outrageous.
Even Google, Amazon and Microsoft don’t trade on such multiples, she said.
“Honourable home minister, he has topi-pehnau-ed you…he is getting security clearances from the ministry of home affairs…Madam, finance minister he has topi-pehnau-ed you,” the TMC leader said.
“This man has been allowed to use LIC, SBI to get money as and when he likes. Honourable civil aviation, he has ‘topi-pehnau-ed’, you shipping minister, he has topi-pehna-ed you petroleum minister, he has ‘topi-pehnau-ed’ oil PSUs…power minister he has topi-pehnau-ed you,” she said.
“India is on its way to becoming the third largest economy in the world. Don’t let him smear your time in government, with a stink of crony capitalism. Please immediately order a full complete and thorough investigation into all matters…Our country’s reputation is at risk,” Moitra said.
She also said the House too has historically seen some of the greatest debates, some friendly, some not so friendly sparring matches.
“But it is more and less a sacred place where elected representatives could speak their minds without fear of favour…Today and I say this with a heavy heart, Lok Sabha is a space which stands out more for what cannot be said in this hall, then what can we say. The list of unmentionables is actually far longer than the list of mentionables,” she claimed.
“We cannot say China, we cannot say Pegasus, we can not say BBC, we cannot say Morbi, we cannot say Rafael, and sometimes we cannot even say Modi ji…,” she said.
The opposition has been demanding a joint parliamentary committee probe or a Supreme Court-monitored investigation into the allegations of fraud and manipulation made by the US-based short seller Hindenburg Research against billionaire Gautam Adani’s companies that triggered an unprecedented stock crash. The group has denied the charges.
The opposition parties have alleged that the meltdown in Adani Group shares is a ‘mega scam’ that involves common people’s money as public sector LIC and SBI have invested in them and have questioned the government on steps taken by it.
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#man #topipehnaued #wonderful #nation #Mahua #Moitra #Adani
( With inputs from www.siasat.com )

February 8, 2023
Land for power lines: HC asks rights body to serve PIL copy to Adani firm

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Kolkata: The Calcutta High Court on Tuesday asked APDR to serve a copy of its public interest litigation (PIL) to Adani Power Ltd, where the rights body alleged that power transmission towers of the company in West Bengal’s Farakka were constructed without paying due compensation for land.
The lawyer for Adani Power, who was present in the court, claimed that the project’s work for setting up the transmission lines for the export of electricity from its plant at Godda in Jharkhand to Bangladesh started in 2018.
Anuj Singh, the lawyer for the company, submitted before the court that it has not yet received a copy of the petition from APDR (Association for Protection of Democratic Rights).
A division bench comprising Chief Justice Prakash Shrivastava and Justice R Bharadwaj directed the petitioner to serve a copy of the petition to the company and fixed February 20 for the hearing of the case.
The petitioner’s lawyer claimed that around 35 owners of mango and lychee orchards suffered loss of livelihoods owing to the setting up of the towers, alleging that they have not been given compensation for the land taken from them for the purpose.
They also alleged that many mango and lychee trees were felled but the owners were not compensated for that as well.
The company’s lawyer claimed that the compensation offered was disputed and refused by the land owners and as such, they should have approached the district magistrate of Murshidabad, where Farakka is located, for adjudication.

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#Land #power #lines #asks #rights #body #serve #PIL #copy #Adani #firm
( With inputs from www.siasat.com )

February 7, 2023
Adani gets contracts wherever PM visits: Rahul Gandhi

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New Delhi: In a direct attack on Prime Minister Narendra Modi, Congress leader Rahul Gandhi on Tuesday alleged that the Central government was favouring only one corporate, Adani Group, ‘who gets all the contracts, including the overseas ones’.
“Earlier he used to travel in Adani’s aircraft and now Adani travels with Modiji in his aircraft. First the matter was limited to Gujarat then the country and now he has become international,” Gandhi said on Motion of Thanks to the President’s Address.
He alleged, “The Prime Minister went to Australia and by magic, SBI gave a $1 billion loan to Adani. The PM goes to Bangladesh and then the power development board of the country signs a 25-year contract with Adani.”
“How much money Adani gave to the BJP in the last 20 years,” Rahul Gandhi asked.
He alleged that the Chairman of Sri Lanka electricity board in 2022 informed the Sri Lankan parliamentary committee “that he was told by President Rajapaksa that ‘he was pressured by Prime Minister Modi’ to give the wind power project to Mr Adani”.
“This is not India’s foreign policy. It is the policy for Adani’s business.”
He alleged that during the Bharat Jodo Yatra people asked him how one person, Adani’s worth increased from USD 8 billion to USD 140 billion between 2014 and 2022 and what is his relationship with the Prime Minister.
“During ‘Bharat Jodo Yatra’, we heard people’s voices while we also kept our voices. We talked to children, women, and the elderly during the yatra. We asked the youth about their jobs… Many said they are unemployed or drive Uber. Farmers talked about not getting money under PM-BIMA Yojana and their land being snatched away, while tribals talked about Tribal Bill.

“When we first started walking (referring to Bharat Jodo Yatra), we wanted to play the opposition and tell people about their problems. However, as we progressed, after 500-600 kms, there was a major change. Instead of us telling the people the source of their problems, the yatra started speaking to us,” Rahul Gandhi said in the Lok Sabha.
How #SansadTV has been politicised and censored:
As soon as Rahul Gandhi shows photos of Modi with Adani, the SansadTV cameras immediately cut out RG’s visuals and don’t return to it till Gandhi doesn’t put the photos down. pic.twitter.com/VNNB9J0EmT
— Kunal Purohit (@kunalpurohit) February 7, 2023

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#Adani #contracts #visits #Rahul #Gandhi
( With inputs from www.siasat.com )

February 7, 2023
Allegations against Adani: Chhattisgarh Cong protests in front of LIC, SBI offices

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Raipur: The ruling Congress in Chhattisgarh on Monday staged protests in front of the Life Insurance Corporation (LIC) and State Bank of India (SBI) offices in all the district headquarters across the state in connection with the allegations against the Gautam Adani group and the resultant stock market upheaval.
Adani group stocks have taken a massive hit after US-based activist short-seller Hindenburg Research made a litany of allegations including fraudulent transactions and share price manipulation. The group has dismissed the charges as lies.
Opposition parties have alleged the value of shares held in Adani group firms by LIC and leading lender SBI had eroded massively, which they claimed was a setback to taxpayers.
The protesters sought a joint parliamentary probe into the allegations against the Adani group as well as a white paper on the issue from the Bharatiya Janata Party-led Union government.
Addressing the gathering outside the Jai Stambh Chowk branch of SBI, Chhattisgarh Congress chief Mohan Markam said the allegations show LIC and SBI made “risky investments” in the Adani group.
The common man, who has been affected by the stock rout, needs to know who sanctioned such “disproportionate loans” from state entities to the group, Markam said.
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#Allegations #Adani #Chhattisgarh #Cong #protests #front #LIC #SBI #offices
( With inputs from www.siasat.com )

February 6, 2023
Congress asks PM Modi to break silence on Adani issue

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New Delhi: The Congress on Monday questioned the “deafening” silence of Prime Minister Narendra Modi on the Adani issue and made a pun on his monthly ‘Mann ki Baat’ asking him whether it was an instance of ‘Mann ki banking’ to benefit his cronies.
“His silence is not just eloquent but also deafening. Break the silence, Mr. PM,” said AICC general secretary of communications Jairam Ramesh while posing him a set of three questions.
The Congress said it will pose three questions to the Prime Minister every day starting Sunday.
“Dear PM Modi, As promised yesterday, here is today’s set of three questions for you, HAHK (Hum Adani Ke Hain Kaun)-2? So to speak,” he said.
The Congress leader alleged that the government has a track record of “bailing out” failing disinvestments such as IDBI Bank, New India Assurance, and General Insurance Corporation using LIC funds.
“It’s one thing to bail out public sector companies and quite another to use the savings of 30 crore loyal policy-holders to enrich your friends. How did LIC make such a heavy allocation to the risky Adani Group that even private fund managers had steered clear of? Is it not the duty of the government to ensure that vital public sector financial institutions are more conservative in their investments than their private sector counterparts,” he asked.
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#Congress #asks #Modi #break #silence #Adani #issue
( With inputs from www.siasat.com )

February 6, 2023
Plea in SC seeks constitution of committee to probe Hindenburg Research report on Adani Group

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New Delhi: A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.
The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates.
Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the “artificial crashing” of Adani Group’s stock value in the market.
The Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations including fraudulent transactions and share-price manipulation against the business conglomerate led by Gautam Adani.
The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
In his plea, Tiwari has said the petition depicts the “drastic condition and fate of people” when there arises a situation of share fall in the securities market due to various reasons.
“Lots of people who had the whole lifetime saving in such stocks get a maximum setback due to fall in such shares with a huge amount of money getting into drain,” the PIL said.
It said with the recent news of the publication of the Hindenburg report, it has led to the loss of huge amount for various investors who have invested their life-saving in such shares.

“In the aftermath of an unprecedented attack on billionaire Gautam Adani’s vast empire by Hindenburg, the market value of all 10 Adani stocks have halved with investors sitting with a colossal loss…,” the plea said.
It claimed that no concrete steps have been taken by authorities on the issue despite a “massive attack being perpetrated” on the country’s economy.
“It is ultimately the public money for which the respondents (Centre and others) are answerable and there needs to be strict concern for mitigating of such loans with a clear process and sanction policy for such high stake loan amount,” it said.
The plea has made the Centre and others, including the Reserve Bank of India and the Securities and Exchange Board of India, as respondents.
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#Plea #seeks #constitution #committee #probe #Hindenburg #Research #report #Adani #Group
( With inputs from www.siasat.com )

February 6, 2023
Karan Adani, Anant Ambani among members of Maha economic advisory panel

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Mumbai: Tata Sons chairman N Chandrasekharan will head the Maharashtra state Economic Advisory Council (EAC) which also includes Karan Adani and Anant Ambani, a government resolution said on Monday.
Karan Adani, the CEO of Adani Ports and SEZ Ltd, is the son of Gautam Adani, who is battling allegations of stock manipulation and fraud in Adani Group raised by Hindenburg Research. The Adani Group has denied the allegations, which created a political firestorm and eroded his networth.
The Adani junior has been named as the expert on the ports and SEZ sector in the 21-member body.
“An Economic Advisory Council as an Independent Body to advise the state government on economic and other related issues ,” the government resolution said.
The council has domain experts from fields including textiles, pharma, ports, special economic zone, banking, agriculture, industries, engineering, and manufacturing.
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#Karan #Adani #Anant #Ambani #among #members #Maha #economic #advisory #panel

( With inputs from www.siasat.com )

February 6, 2023
Opposition to demonstrate outside Parliament to seek JPC probe into Adani issue

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New Delhi: Opposition parties will stage a demonstration on Monday outside the Parliament House to demand a probe by a Joint Parliamentary Committee (JPC) into the allegations of fraud and stock manipulation against the Adani Group, souces said.
Sources said that before the demonstration, the Opposition parties led by Congress will meet at 9.30 a.m. to finalise a strategy for the day in Parliament.
On Friday, both houses of the Parliament were adjourned amid sloganeering by Opposition parties to seek discussion on the issue.
Parliamentary Affairs Minister Pralhad Joshi on Friday said that the government has nothing to do with the matter and the Opposition is raising it as it is bereft of issues.
“Government has nothing to do with it (Adani group issue)… The Opposition is disrupting the house as it has no other issues,” the Parliamentary Affairs minister said.
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#Opposition #demonstrate #Parliament #seek #JPC #probe #Adani #issue

( With inputs from www.siasat.com )

February 6, 2023