But tickets are always sold out for a showman performance, not for the silent performer (unless you are Teller).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.
Coal comes from Adani's mines, shipped to Adani's ports, sold by Adani's company. Pretty sure I'm missing more chains in this link. But whatever. Sab changa si.Lets continue to praise and support the nation builders.
The mystery of the Adani coal imports that quietly doubled in value
Analysis of customs records suggests Indian conglomerate has been inflating fuel costs using offshore middlemenwww.ft.com
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.Billionaire Gautam Adani’s Wealth Jumps After India’s Supreme Court Says Hindenburg’s Report Not Credible
Tuesday’s buying frenzy pushed up Adani’s net worth by $6 billion and his estimated net worth now stands at $57.1 billion.www.forbes.com
Adani Hindenburg : No Material To Doubt SEBI Probe & Impartiality Of Expert Committee Members, Says Supreme Court; Reserves Judgment
The Supreme Court on Friday (November 24) reserved its judgment in a batch of Public Interest Litigations (PILs) seeking a Court-monitored investigation into the allegations made by US-based...www.livelaw.in
‘Should SEBI now follow journalists?’ SC reserves verdict in Adani-Hindenburg case
The top court reserved its verdict on the pleas seeking an examination into the allegations against Adani.www.newslaundry.com
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.Adani Stocks rally up to 20% as US agency DFC finds Hindenburg report 'irrelevant'
Shares of Adani Enterprises surged more than 6 per cent to Rs 2681.75 on Tuesday. The flagship firm of Adani Group's total market capitalization topped Rs 3 lakh crore mark once again.www.businesstoday.in
Bloomberg - Are you a robot?
www.bloomberg.com
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.Adani Stocks rally up to 20% as US agency DFC finds Hindenburg report 'irrelevant'
Shares of Adani Enterprises surged more than 6 per cent to Rs 2681.75 on Tuesday. The flagship firm of Adani Group's total market capitalization topped Rs 3 lakh crore mark once again.www.businesstoday.in
Bloomberg - Are you a robot?
www.bloomberg.com
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.@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'
True, in business and international relations the meaning of the word 'ethics' changes as per convenience.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.
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.
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.