“Adani’s fall reignites scrutiny of billionaire’s close ties with Modi-CNBC”
Highlights By: Balbir Singh Sooch-Sikh Vichar ManchPUBLISHED UPDATED WED, FEB 15 202311:37 PM EST
https://www.cnbc.com/2023/02/
“Modi and Adani probably share the closest relationship a politician can have with a business person. Ashok Swain: UPPSALA UNIVERSITY”
KEY POINTS:
· The tycoon lost his crown as Asia’s wealthiest man in a matter of days, as his fortunes unraveled after a report from short-seller firm Hindenburg Research in late January.
· India’s top industrialist has also drawn the attention of the country’s watchdog — the Securities and Exchange Board on India. The markets regulator is now probing the allegations made in the report against his business empire.
· The debacle has laid bare the longstanding relationship between India’s super-rich corporate titans and the political elite.
https://www.cnbc.com/2023/02/
‘A Calculated Attack On India’- Does it mean, ‘The loss of Adani group is loss of Indians or India’?
India has been rocked in recent weeks after US-based Hindenburg Research accused billionaire Gautam Adani of fraud and market manipulation, wiping out more than $130 billion in market value at one of the country's biggest conglomerates. Adani, who is seen as close to Modi, refuted the allegations and stoked nationalism in a 413-page rebuttal by his flagship company:
https://www.tbsnews.net/
“IOC contradicts Adani after TMC’s Mahua Moitra raises stink of corruption in LPG deal: Photo of Press Trust of India Press Trust of India Follow on Twitter| Posted by Neha Khan | Published: 16th February 2023 8:46 pm IST:
Tagging Oil Minister Hardeep Singh Puri and CVC on Wednesday evening, Moitra said, “No tender. No CVC norms. Moving business from Vizag Port to Gangavaram. Skimming from coal, skimming from gas, now skimming from ‘chula’ in every household. Shame!”.
IOC in an unusual move on Thursday sent out a series of tweets to clarify its position. “IOC has just signed a non-binding MoU with APSEZL till now,” it said, adding that it floats no tenders for hiring of facilities at ports to import LPG — a commodity that India is short of production.
“There is no take-or-pay liability or any binding agreement, as of now,” it said.
A take-or-pay contract means that the state-owned firm will have to pay for using the terminal’s full 5 lakh tonnes capacity a year even if it ships less than the committed quantity.
ALSO READMahua Moitra asks if IT action on BBC will be followed by one on ‘Mr A’
IOC currently uses state-run Visakhapatnam or Vizag Port, located adjacent to Gangavaram port, to import some 7-8 lakh tonnes of LPG annually.
APSEZL, the ports unit of the Adani Group, had revealed the plan while announcing the company’s third quarter financial results on February 7.
Moitra’s party is among the opposition parties which have been demanding a probe into allegations a US short seller has levelled against the Adani Group.
Hindenburg Research on January 24 accused the Adani Group of accounting fraud and stock manipulation, allegations that the conglomerate has denied as “malicious”, “baseless” and a “calculated attack on India”… https://www.siasat.com/ioc-
Adani Stock Still Ailing Three Weeks After Hindenburg Report: https://www.statista.com/
January 24: Hindenburg Research Tweeted: “The Largest Corporate Fraud In History”:https://www.
Indian aviation’s cloud 9 moment: https://www.dtnext.in/edit/
Adani cos’ mcap losses top Rs 10 lakh crore in 13 trading days: Partha Sinha & Reeba Zachariah / TNN / Feb 14, 2023, 07:44 IST: https://timesofindia.
2 stunning charts show how India's mighty Adani Group lost $118 billion in 10 days. A short-seller's report, in just over a week-and-a-half, has erased more than a hundred billion dollars in value from one of India's largest companies.03-Feb-2023: 2 stunning charts show how India’s mighty Adani Group lost $118 billion in 10 days: BY: NICHOLAS GORDON: February 3, 2023 at 4:52 PM MT+5:30: https://fortune.com/2023/02/
Adani Row: Supreme Court 'No' To Centre's Sealed Cover Suggestion On Panel: NDTV:
https://www.ndtv.com/india-
Billionaire investor George Soros says turmoil at Adani will cost Modi govt:BJP lashes out: “He is not only targeting the Prime Minister but also the Indian democratic system”: https://www.
Highlights Forwarded By: Balbir Singh Sooch-Sikh Vichar Manch
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https://www.cnbc.com/2023/02/
‘A Calculated Attack On India’- Does it mean, ‘The loss of Adani group is loss of Indians or India’?
“Adani’s fall reignites scrutiny of billionaire’s close ties with Modi-CNBC”