by Dr. Golak Bihari Nath and Deba Ranjan The Hindenburg report titled “Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History” was published on January 24, 2023. According to the report, “Adani Enterprises, a conglomerate has been engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. Well[Read More…]
Two recent exposures of the Gautam Adani conglomerate, have inflicted sufficient market punishment on it. One by the Hindenburgh short seller’s accusation of “brazen stock market manipulation and accounting fraud”, triggered an huge sell-off of its shares, wiping out about $118 billion of its market valuation. While the Bangalore – based Ken report’s exposure of non-repayment of debt worth[Read More…]
Taking the cue from Rahul Gandhi’s charge in parliament during his fiery speech over the Adani stock scam on Feb 7, 2023, that ‘Modi Is Adani’, and seeing how it has rattled Modi and BJP, DMK MP Kalanidhi Veeraswamy is not the only one who is now openly accusing Modi of extensive corruption using the office of the PM. Other[Read More…]
To Shri Y S Jagan Mohan Reddy Chief Minister Andhra Pradesh Dear Shri Jagan Mohan Reddy garu, I understand that Andhra Pradesh Power Generation Corporation (APGENCO) has placed an order for 7.5 lakh tonnes of imported coal for the Damodaram Sanjeevaiah TPS (DSTPS) at Krishnapatnam, by selecting the Adani Group as the successful bidder at a quoted price of[Read More…]
A three-judge bench of the Supreme Court, headed by Chief Justice of India (CJI) D. Y. Chandrachud, on 10th February expressed concern over the acute downfall in share values of Adani Group and observed that “there is a need to protect Indian investors from[Read More…]
The game has changed . A new narrative has begun. Now Adani Realty is in BKC’ says the slogan on the wall of the upcoming high rise Adani building. The irony is that it is right opposite the building of MHADA, Maharashtra housing and area development authority in Bandra east in Mumbai.It is an affront to the whole concept of[Read More…]
There is nothing Gautam Adani will not do for money. In this sense, he is admirably dedicated to greed, so much so he has become its foremost caricature worthy of permanent enthronement. Mark this man’s name in the scriptures of eternity: There was nothing he did not do for the filthy lucre. For the unfamiliar reader, the $218 billion Adani[Read More…]
To Smt Nirmala Sitharaman Union Finance Minister Dear Smt Sitharaman, You must have received my letter of 31st January, 2023 (https://countercurrents.org/2023/02/overseas-shell-companies-a-shadow-economy-a-threat-t-national) on the legal vacuum left unfilled over the years (“shell companies” not statutorily defined), deliberately or otherwise, by the Finance and Corporate Affairs Ministries, which has perhaps strengthened the unholy nexus that exists between domestic corporate entities and their overseas shell[Read More…]
Forbes, world’s financial news daily declared (September, 2022), Gautam Adani as the second richest in global rich list, with a fortune estimated to be $155.5 billion on Forbe’s Real time billionaire rankings. Then during this week credible American financial investigating firm Hindenburg Research revealed a saga of stock manipulations and accounting frauds of Adani empire, India’s biggest crony capitalist. As[Read More…]
It may or may not be a coincidence,but it is surely striking that from two countries regarded as close allies of Prime Minister Modi two quite alarming missiles have exploded near him and his close friend corporate magnate Gautam Adani.The BBC documentary directly holds him responsible for letting the ghastly pogrom of 2002 happen in Gujarat during his watch as[Read More…]
While these lines are being written, Adani group had already lost around more than $50 billion (more than Rs. 4 lakh crore), equaling almost 20 percent of its market value (‘aggregate market capitalization’) since January 24, following the release of the “credible and well-researched” report of Hindenburg Research alleging “brazen stock manipulation and accounting fraud scheme over course of decades”[Read More…]
Introduction While these line are being written, in continuation of the BJP-CPI (M) joint meeting in solidarity with Adani, the CPI (M) led Kerala government has given its green signal before the High Court of Kerala for the deployment of Central Forces at Vizhinjam to safeguard the corporate interests of Adani, biggest Indian corporate and world’s third richest according to[Read More…]
The historical agitation by the coastal people of Trivandrum has crossed 120 days. The struggle has been going on at Vizhinjam all these days under the leadership of the Trivandrum Latin archdiocese raising 7 demands including the demand that construction of the harbour has to be stopped and the destruction it has already caused to the coast to be enquired[Read More…]
To Shri A L Meena Union Coal Secretary Shri A K Jha Union Secretary for Tribal affairs Dear S/Shri Meena and Jha, I understand that the Ministry of Coal has allotted Gondalpura coal block in Hazaribagh district of Jharkhand in favour of the Adani Group and the local communities who would be displaced, including adivasis, are protesting against it (https://thewire.in/rights/gondalpura-coal-mining-adani-group-protests).[Read More…]
Imagine the tobacco producer who invests in smoke limitation programs, or the arms manufacturer who attends a conference proposing to ban weapons and seek a better future. Gautam Adani, one of India’s most ruthlessly adept billionaires, has added his name to the growing list of corporate transvestism, using ecological credentials as his camouflage for fossil fuel predation. The central feature[Read More…]
To Shri Shaktikant Das Governor RBI Dear Shri Das, RBI must have seen the disturbing report of the credit research agency, CreditSights, on highly over-leveraged expansion programme undertaken by the Adani Group in India and abroad (https://www.reuters.com/world/india/indias-adani-group-deeply-overleveraged-creditsights-says-2022-08-23/) The credit research agency is reported to have pointed out, “The conglomerate’s debt-funded growth plans could spiral ‘into a massive debt trap’ and[Read More…]
In the month of June-July, fruit-wise still a month of Mangoes, allegedly some fellows at the behest of Adani Power company and emboldened by administration of WB started destructing mango and lichi orchards in some villages near Farakka (the place famous for barrage) for the purpose of clearing way for constructing transmission towers for carrying electricity from Adani’s power plant in Jharkhand to neighbouring Bangladesh. When villagers protested many were beaten by police and many were arrested. A team of Sanyukt Kisan Morcha that went to inspect the area was virtually detained by the administration and was prevented from going to the spot, a press statement of SKM said.
Dear Sisters , Today 5 of us women have left our homes to participate and sit as Satyagrahis in the small pandal near Thiruvannathapuram Domestic terminal where the Anti Adani Vizhinjam Port struggle reaches its 50th day. Many of you may wonder why we are here and what we are trying to communicate by this Satyagraha. Titled the Indefinite Satyagraha[Read More…]
NAPM extends solidarity to villagers of Gondalpura Struggling to Protect their Farms, Forests and Biodiversity 12th March, 2022: National Alliance of People’s Movements (NAPM) extends solidarity to the villagers protesting since many months against Adani’s proposed mine at the Gondalpura coal block in Hazaribagh, Jharkhand. It is distressing that both the Centre and the State have paid no heed to[Read More…]
He began on RN Breakfast by claiming that he, and his company, would be open and transparent about mining operations. But Lucas Dow, chief executive of Adani’s Australian operations, soon revealed in his June 25 interview that his understanding of transparency was rather far from the dictionary version. When asked how the Carmichael Coal Mine was getting its water, he[Read More…]
Corporate morality can be a flexible thing. Some companies see tantalising dollar signs afloat in the spilt blood of civilians and dissidents. Military governments, however trigger crazed, offer ideal opportunities; potentially, corners can be cut, regulations relaxed. The Adani Group has shown itself to be particularly unscrupulous in this regard. In many ways, it is fitting. The group’s record in[Read More…]
Oratory is important in todays time. Narendra Modi gave a new term ‘andolanjeevi’ to his supporters which was countered by activists vehemently. Modi’s speech was nothing but addressed to his audience and now that includes corporate bosses too as he categorically said that ‘private’ is important for ‘nation building’. The second most important speech which was highly impressive and exposed[Read More…]
In a globalized world market the monopoly houses are growing in a manner that they could control the democratic state apparatus in the countries of their headquarters like never before. When the right wing parties come to power with the full support of monopoly houses there is a contract between monopoly houses and the party that their market reach must[Read More…]
National Alliance of People’s Movements (NAPM) commends and extends its solidarity to the youth groups of India and Australia who, in an effort to bring more attention to the continuous struggles of the multitude — aboriginal, indigenous peoples, farmers, working class and other oppressed communities — against anti-people multinational corporate conglomerates, have successfully organised the Global Week of Action to[Read More…]
On January 19, a court in Gujarat issued an arrest warrant against eminent journalist Paranjoy Guha Thakurta in a defamation suit filed by the Adani Group. Since then several leading media organizations and commentators have voiced strong opposition of this action against a senior journalist with many-sided achievements in print journalism, TV and documentary films. Thakurta has also been working[Read More…]
The proposed 1,600 MW Godda Power Plant in Jharkhand, to be set up by the Adani Group with the aim of supplying power to Bangladesh, is to get its turbines from General Electric. A press conference on Friday, December 11, 2020, conducted online by civil society groups from Kenya, Indonesia, India, Vietnam and Bosnia and Herzegovina urged GE to pull[Read More…]
Reports on the Adani group’s projects worldwide show massive illegalities, ecological and environmental destruction, human rights violation, tax evasion, money laundering and corruption. An ongoing coal based thermal power project in India which will supply its entire power to Bangladesh and import coal from Adani’s Carmichael mines in Australia, points to crony capitalism, exploitation, corruption and violation of laws. Who[Read More…]
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Our beloved K.P.Sasi is no more. Filmmaker, cartoonist, writer, mentor, friend and above all tireless activist championing the cause of every underdog, Sasi breathed his last, mid-afternoon this Christmas day – after battling a medical condition for months. I remember the last time I met him, almost exactly a month before he passed away, at the ayurvedic healing center in[Read More…]
