Adani group, an Evil corp?

I must have missed the part when Dr. Manmohan Singh handed over this nation's valuable assets to his corporate masters.

And he also gave press conferences instead of holding chitchat with Bollywood actors.

Conservatives know there's nothing to defend when it comes to Adani-Ambani-Modi nexus so the next best thing they can do is post the same old shi**y whatsapp forwards. On every metric, Dr. Manmohan Singh was better prime minister than current ****, except number of cultists and fools following him. Current one has him beat on that one.
But tickets are always sold out for a showman performance, not for the silent performer (unless you are Teller).

Anyway supporters/opponents may paint whatever picture, Indians voted for Modi in 2019 only because of two reasons:
1) Hindu Muslim polarization. (build an atmosphere of fear in the majority and then appease them, and the democratic process shall automatically bestow with power)
2) Image of arrogant (some may call it proud) semi-dictator (which this country has been desiring since Indira Gandhi) who can cock a snook at Goras and Cheenis and Porkies and ...
In fact have a look at all Modi's photos, you will find the same expression: eyes narrowed slightly, brows knit, constant frown, menacing glare
If Adani is able to support Point No.2 above, then Indians actually won't care (so what if this kind of crony capitalism is going to harm Indian public in the longer run)
 
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The problem is that SEBI had raised its hands saying that it is unable to dig deeper than the first level in order to determine the related party transactions via shell companies.
 

Good. The US recognises the geopolitical significance of the situation. Though given how multiple factions/actors are involved within the US, the statement by the said US official is very smartly worded. Most people who bought into the allegations against Adani wholesale, without an iota of scepticism, seem to have a very 90s and 00s worldview. Can't blame them as that's the period most of us grew up in, a unipolar world whose geopolitics was largely shaped by Trans-Atlantic countries. You don't have to give Adani a clean chit, just retain your scepticism for every actor involved.
 

It's more of a practical move. Everyone knows how these crony capitalists in India have the dispensation in their pocket, and the current dispensation looks set to stay in power for the foreseeable future. So, why not give a clean chit and invest in the growth story and earn some bucks instead of getting involved in fight with them. We have already seen how the US capitalists funded the growth of China (communist, socialist, anti-democratic) by making it the global manufacturing powerhouse just to have higher profits.
We will continue to see foreign investments into these Indian companies as long as there's a govt that heavily favors them.
 
@eternoMind @ashokbishnoi
A pragmatic win for business-politico nexus not only beyond international borders, but against giants like George Soros and a now not so imperial USA.
So, now business ethics can go for 'thel lene' :happy:
Geopolitics and foreign policy are amoral. Not immoral, mind you, but amoral. When even what's considered 'human ethics' (the Princess Latifa episode is a very minor example of this) is a mere instrument in the pursuit of those goals, 'business ethics' is just a matter of convenience, at this level.
 
Geopolitics and foreign policy are amoral. Not immoral, mind you, but amoral. When even what's considered 'human ethics' (the Princess Latifa episode is a very minor example of this) is a mere instrument in the pursuit of those goals, 'business ethics' is just a matter of convenience, at this level.
True, in business and international relations the meaning of the word 'ethics' changes as per convenience.

For businesses, it's defined by the market and its stakeholders (govt, regulators, public) they operate in. We have numerous examples.
1. How Apple, the so called and self-touted user privacy-champion company refused to entertain FBI's request to decrypt a mass shooter's smartphone.
This same company gladly obliged to have different data storage and user data sharing arrangements with govt in China. Better to have some business than nothing at all.
2. How automobile companies have had been resisting to build safer cars for Indians, while complying with tighter European regulations, as if we have some magical powers to survive accidents.
3. There was this Haldiram's snacks episode too, in which it continues to use ingredients which are banned in USA.
4. How Indian pharma companies deal differently with inspections by US FDA and its Indian counterpart.
 
Obviously, if business and politico leaders can do this, that is lot of inspiration for every tom, dick and harry...
That which is good for goose is good for gander too.
And people wonder why world is in general, on a marathon towards shit drain hole.
 
This is just laughable, this guy was also questioning adani ;)

Some of his tweets

Here he is badmouthing ED, incometax etc
here he is defending the idea of India
Oh and the irony, he is talking about black money here. Look at the words, almost as sincere as any top leader of congress does.

photo_2023-12-10_12-57-42.jpg


So many more gems. And all congressi's are in hiding. Not a single person talking about it or made a threat about it when he is caught red handed with CASH.

Problem is, congressi's think running campaign, and targeting by media trail by them will somehow make public fool into getting them not to vote BJP. Imagine the money they spent doing hit job on adani only for supreme court to tell prashant bushan. Imagine the time wasted by congressi's here on this thread only to know 3 states easily won by BJP and now 2024 got even more easy than 2019 and BJP is on route to win even much bigger majority compared to 2019.

Congressi's, a piece of advice. People are not stupid! People are not fools. The whole adani saga is a ploy to extort money(for elections) from adani by strong-arming him and defaming him.

What a downfall for congressi's. Don't forget their attempt on polarizing politics in the name of caste by requesting caste census.
 
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Those who tarnishing current Govt. for Business Environment or favorable to entrepreneurs do not forget other side of COIN who hell bent for Union Carbide (business that lead to Bhopal Gas Leak)
 
New Delhi: The Union Coal Ministry defied the Environment Ministry to open up the country’s densest forest areas for mining after lobbying by an industry group of the top private power sector companies, reveal records accessed by The Reporters' Collective.

The Association of Power Producers wrote to the coal ministry in November 2021 to open up for auctions two coal blocks nestled in one of India’s densest forests to address the rumoured coal shortage in the country. But the lobbying was poised to benefit its member, the Adani Group.

One of the two blocks the Association lobbied for is situated in Madhya Pradesh’s Singrauli coalfields and is close to a thermal power plant the Adani Group acquired in March 2022. The other, situated in Chhattisgarh’s pristine Hasdeo Arand forests, is adjacent to blocks mined by the Adani Group.

The Coal Ministry not only acted on the association’s demand to open up the two blocks but went a step ahead and pushed for a review of the environment ministry’s suggestions in 2018 that 15 coal blocks, which includes one of the two, should be exempt from coal mining auctions since they fall in areas that have high biodiversity value and need to be conserved.




Overpricing of Coal Imports By Adani Group Led to Higher Profits, Customers Overcharged for Fuel: FT
The inflation in imported coal that FT alleges Adani has been doing may have sometimes, per the report, allowed it to make 52% profit margins in an industry where profit margins are otherwise considered low.

In all cases that FT examined, it says “prices in import records were far higher than those in corresponding export declarations.”

During the journeys, from where they were imported back to a port in India, usually owned by Adani, “the value of the combined shipments unaccountably increased by over $70 million.”

Among the specific instances the London-based financial daily has found, it says that in January 2019, coal meant for Adani, departed “the Indonesian port of Kaliorang in East Kalimantan carrying 74,820 tonnes of thermal coal destined for the fires of an Indian power station. During the voyage, something extraordinary occurred: the value of its cargo doubled.”

While “in export records the price was $1.9mn, plus $42,000 for shipping and insurance. On arrival at India’s largest commercial port, Mundra in Gujarat run by Adani, the declared import value was $4.3mn.”

This allowed for “52% profit margins” as a result of over-invoicing, and leading to unusual profits.

 
Soon it will be a year and I was told to expect a rebound a year hence from one commentator last Feb


The rebound suggests the conglomerate, once termed "deeply overleveraged" by research firm CreditSights, is finding favor with investors again. The group, whose operations range from cement to airports and coal mining, has yet to tap overseas bond markets since the January publication, which came at a time when rapidly rising US interest rates curbed offshore issuance by Asian companies.

Billionaire Gautam Adani has "clearly got some great assets and he's clearly able to monetize those," said Kamil Dimmich, a partner at London-based North of South Capital. "He's certainly been helped by the underlying businesses becoming more profitable.
 
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