The victory of the Australian Labour Party – which has promised to veto a prospective Federal government to the Adani group – is bad news for the company.
The company recently petitioned the Maharashtra and Rajasthan electricity regulatory commissions, asking to be reimbursed for extra fuel costs incurred by its power plants.
The matter pertains to the alleged over-invoicing of imports and the sum involved is Rs 5,500 crore.
While investors have given a thumbs-down to the deals as they would add to the PSUs’ loan burden, they will likely help the heavily-indebted Adani group secure bank loans and make future investments.
While support for the controversial mine exists in rural areas – where the narrative of jobs finds resonance – it is opposed in metropolitan centres where a more definitive acceptance of the threats from climate change defines attitudes.
Even as China has swooped in to save the day, critics claim that the project is financially unsustainable and will only work if the risk is shifted onto Australian taxpayers.
Given his government’s record of inaction, however, the latest disclosures are also likely to sink without a trace.
Annastacia Palaszczuk reversed her previous support for Gautam Adani’s application for a concessional Australian government loan to pay for a rail line from the outback mine site to a coastal port.
With the $16-billion Adani coal mine dividing the Australian public, The Wire looks at the country’s environmental concerns and how the Carmichael project adds to them.
With the DRI’s adjudicating authority latest order, two show-cause notices issued by the customs intelligence agency in 2014 for alleged over-valuation of imports by Adani Group firms to the tune of Rs 5,467 crore have been dropped.
From environmentalists to politicians to indigenous groups, there is strong local opposition to the Adani project in Queensland. The Wire examines the factors at play and how the Adani Group is responding.
A massive $16.4 billion proposed coal mine has sparked protests and a heated debate. As the Adani project becomes a symbol of Australia’s future, The Wire examines the issues at stake.
While the group has informed Australian authorities that Atulya Resources is the holding firm for the company’s operations, ABC alleges that it is actually a holding firm in the British Virgin Islands controlled by Vinod Adani.
Directorate of Revenue Intelligence report shows how an Adani subsidiary allegedly used a Dubai-based front company to over-invoice imports and then move Rs 1,500 crore to a Mauritius-based firm controlled by Gautam Adani’s brother.
A number of Twitter handles that were active in defending the industrialist when his Australia project came under fire have now trained their guns on Paranjoy Guha Thakurta.
A fortnightly column from The Wire’s public editor.
Worried about the threat of an expensive lawsuit by one of India’s biggest corporate houses, the trustees running the journal ordered the removal of articles critical of Adani Power Ltd.
The government has quietly tweaked rules relating to special economic zones – and the new rules specifically favour the Adani Group.
The mine has been delayed due to opposition from environment groups who argue it will contribute to global warming and damage the Great Barrier Reef.
Protests have intensified after the Commonwealth Bank decided to fund Adani’s Carmichael mining project.
The three year-long CBI investigation into Jatin Mehta’s Winsome Diamonds has finally come to an end. While there are a number of questions still remaining, will the guilty be punished?
Despite the DRI’s allegations, the government seems strangely reticent about filing a review petition in the Supreme Court that could protect its revenue interests.
Afraid that the coal mine, if approved, will harm the Great Barrier Reef, protestors took to the streets as Gautam Adani met with the prime minister.
The biggest black money case that has come up so far is that of the Adani group, promoted by Gautam Adani, one of Modi’s closest associates, writes Josy Joseph in his book A Feast of Vultures: The Hidden Business of Democracy in India. Here’s an excerpt.
The scam is conservatively estimated by government officials at no less than Rs 29,000 crore, a third of which is in the form of higher power tariffs.
In this excerpt from his new book, T.N. Ninan looks at how the tension between these two goals is playing out in Indian today
With his growing investments in renewable energy which is a big part of Narendra Modi’s Make in India policy, Gautam Adani may not have any use for his coal mine in Queensland. What will he do with it?
The real essence of cronyism flows from how deeply the link between business and politics is embedded in the larger system, and no individual politician has the power to alter this.