Adani group, an Evil corp?

[Mr.J]

NEW YORK, Nov 20 (Reuters) - Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme, U.S. prosecutors said on Wednesday.
Authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Prosecutors also said the Adanis and another executive at Adani Green Energy, former CEO Vneet Jaain, raised more than $3 billion in loans and bonds by hiding their corruption from lenders and investors.
According to an indictment, some conspirators referred privately to Gautam Adani with the code names "Numero uno" and "the big man," while Sagar Adani allegedly used his cellphone to track specifics about the bribes.

Adani Group did not immediately respond to requests for comment outside business hours in India, where the charges were announced early Thursday morning.
India's embassy in Washington did not immediately respond to requests for comment. Lawyers for the defendants could not immediately be identified.
Gautam Adani, Sagar Adani and Jaain were charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy, and the Adanis were also charged in a U.S. Securities and Exchange Commission civil case.

The other five defendants were charged with conspiring to violate the Foreign Corrupt Practices Act, a U.S. anti-bribery law, and four were charged with conspiring to obstruct justice.
None of the defendants is in custody, a spokesperson for U.S. Attorney Breon Peace in Brooklyn said. Gautam Adani is believed to be in India.

https://www.reuters.com/legal/chair-indias-adani-group-indicted-united-states-2024-11-20/

 

[Afxal]

DoJ has a 95% conviction rate. Bad times ahead for Adani.
Biden, looking to stir some up before leaving the White House.

 

[alekhkhanna]

DoJ has a 95% conviction rate. Bad times ahead for Adani.
Biden, looking to stir some up before leaving the White House.

Guilty acceptance pleas are quite high in US, so numbers look a bit fuzzy. Having said that, this is huge, and out in the open now. Will not be as easy as dissing Hindenberg etc. Let's see how SEBI helps Adani with this one. Khud Modiji ko aana padega.

 

[dpandey]

Payback for congratulating Trump on his victory?

The timing is interesting. If they really wanted to hit Adani, they should have done this a week earlier

 

[Afxal]

Guilty acceptance pleas are quite high in US, so numbers look a bit fuzzy. Having said that, this is huge, and out in the open now. Will not be as easy as dissing Hindenberg etc. Let's see how SEBI helps Adani with this one. Khud Modiji ko aana padega.

Maybe his friend Doland can help. But still it's 2 months left in his coronation.

 

[eternoMind]

This comes right after Canada named Modi too in the Nijjar assassination case. It's the US deep state alright.

 

[altair21]

meh, DOJ should first deal with the rapist/pedophile/traitor they elected as POTUS, that being said, nothing is gonna happen, its either Adani being extorted out of money or sidearming him in some business deals, nothing actually would be done, Trump would just waive it away.

if Elon Chan can get away with blatant voter tampering and bribing and the less said of other corpos the better, then nothing will come out of it

 

[psyph3r]

and the conspiracy theories have started already

 

[TEUser2K1]

Maybe his friend Doland can help.

He will try to make a deal out of that, isn't that his art ? He should be smirking inside now, seeing the opportunity.

Biden, looking to stir some up before leaving the White House.

Only to transfer that stick to DTrump.

and the conspiracy theories have started already

Auckland 'referendum' on Khalistan attracts thousands
Why not...

The reality is that current powers in our country with their ultimate wisdom decided to write off the entire country and it's global credibility to very few those who are in cahoots with them. They should've offloaded the risks by diversifying their 'portfolios', but no, they are not into that, they are into dry and wry nepotism while keeping the country's conscience burned up in useless topics like huge statues, falling bridges, useless language religio-caste-regional divisions, whatnot. So, here we are and it's not going to end here.

 

[eternoMind]

and the conspiracy theories have started already

It's incredibly naive to take things at face value.

The reality is that current powers in our country with their ultimate wisdom decided to write off the entire country and it's global credibility to very few those who are in cahoots with them. They should've offloaded the risks by diversifying their 'portfolios', but no, they are not into that, they are into dry and wry nepotism while keeping the country's conscience burned up in useless topics like huge statues, falling bridges, useless language religio-caste-regional divisions, whatnot. So, here we are and it's not going to end here.

What makes you say this?

 

[TEUser2K1]

What makes you say this?

All international govt. related projects like foreign shipping ports, airport ports, energy projects, etc. going to only one entity will naturally attract all geo-political attention to that entity, it's quite expected. Also, Indians must think why all mega projects have to go to that one entity alone or extreme few such entities. Why there are no other companies in this entire nation, why the risk is not divided ? This brings myriads of questions and facets to the concerning issue. Like how employment is created, employees are risked to international politics. It's complex.
You should be thinking why such questions are not raised with proper deep studies till date.

 

[psyph3r]

It's incredibly naive to take things at face value.

It's also naive to dodge the obvious again and again and jump to random conclusions just because it doesn't suit your worldview.
Sometimes a crony capitalist is just that, no need to drag the deep state, George Soros and some forgotten khalistani and ignore the simplest and most plausible reason.
NDTV doesn't even have a single article about it today lol.

 

[TEUser2K1]

Sometimes a crony capitalist is just that

https://www.cato.org/commentary/economic-leadership-secrets-benito-mussolini#

This article is apt in the given situation.

 

[eternoMind]

It's also naive to dodge the obvious again and again and jump to random conclusions just because it doesn't suit your worldview.
Sometimes a crony capitalist is just that, no need to drag the deep state, George Soros and some forgotten khalistani and ignore the simplest and most plausible reason.

The most simple and plausible reason is only when you have info on all the other plausible reasons. Naivete is in assuming you do, especially from media sources. These simplistic explanations are a factor of the end of history theory to explain the world.

My worldview is to question everything, never forget that geopolitics is 'amoral' (which is different from immoral) and for India to do everything it can to secure itself against external geopolitical and economic threats (regardless of which party is in power).

All international govt. related projects like foreign shipping ports, airport ports, energy projects, etc. going to only one entity will naturally attract all geo-political attention to that entity, it's quite expected. Also, Indians must think why all mega projects have to go to that one entity alone or extreme few such entities. Why there are no other companies in this entire nation, why the risk is not divided ? This brings myriads of questions and facets to the concerning issue. Like how employment is created, employees are risked to international politics. It's complex.
You should be thinking why such questions are not raised with proper deep studies till date.

Why do you think the answer is obvious to you but not to others with more skin in the game? Why do you think Adani is what they're today purely because of sucking up to those in power (I accept this is a factor but saying so is a non-sequitur as every business does this) instead of outright execution ability? Why don't you ask why other companies/conglomerates don't have the risk appetite that Adani does, especially with infra which often has long gestation periods and a lot more challenges?

Not being rhetorical with my questions, offering another way to think about these things.

 

[TEUser2K1]

My worldview is to question everything, never forget that geopolitics is 'amoral'

But, then why you are incapable of questioning yourself here:

Why do you think the answer is obvious to you but not to others with more skin in the game? Why do you think Adani is what they're today purely because of sucking up to those in power (I accept this is a factor but saying so is a non-sequitur as every business does this) instead of outright execution ability?

btw:

Why don't you ask why other companies/conglomerates don't have the risk appetite that Adani does, especially with infra which often has long gestation periods and a lot more challenges?

Because, other companies don't have risk appetite like this:
This is how ___ does magic for Adani!
CBI raided NDTV Adani bought NDTV
CCI raided Ambuja Cement Adani bought Ambuja Cement
ED raided GVK Adani bought GVK's Mumbai airport
Income Tax raided Quint Adani bought Quint
Income Tax raided Nellore Krishnapatnam Port Adani bought Krishnapatnam Port
the list goes on and on...

Why no other company can get away from similar legally-uncomfortable situations into legally-very-comfortable-situations so easily?
Have you ever even dared of imagining Why ? Or are you so incapable of certain kind of imagination ?

 

[psyph3r]

The most simple and plausible reason is only when you have info on all the other plausible reasons. Naivete is in assuming you do, especially from media sources. These simplistic explanations are a factor of the end of history theory to explain the world.

Our systems are corrupt and rotten to the very core, anyone who runs a business in India knows it as fact especially when they work on government tenders and contracts, just look outside your window and look at the sorry state of our roads and infra, nothing gets approved or goes ahead without bribery being involved on most if not all levels, believing that the norm doesn't apply to one certain individual is being naive.
Instead of accepting the faults in our system and moving towards positive change, we end up deflecting the blame from our incompetent authorities (who have a shitty track record to begin with) time and again.

 

[eternoMind]

But, then why you are incapable of questioning yourself here:

btw:

Because, other companies don't have risk appetite like this:
This is how ___ does magic for Adani!
CBI raided NDTV Adani bought NDTV
CCI raided Ambuja Cement Adani bought Ambuja Cement
ED raided GVK Adani bought GVK's Mumbai airport
Income Tax raided Quint Adani bought Quint
Income Tax raided Nellore Krishnapatnam Port Adani bought Krishnapatnam Port
the list goes on and on...

Why no other company can get away from similar legally-uncomfortable situations into legally-very-comfortable-situations so easily?
Have you ever even dared of imagining Why ? Or are you so incapable of certain kind of imagination ?

I do not have the guardrails you seem to have when thinking about these things. Crony capitalism is a necessary but not sufficient condition for doing what an Adani does. I have clarity about the larger goal and threat to us here. I also have clarity on the fact that this is 'amoral', which puts it beyond the grasp of most people who can't imagine operating out of that framework. Once you start seeing things this way, it's hard for me to subscribe to the sort of view you have- a simplistic explanation for complex things.

 

[ikkhan]

But, then why you are incapable of questioning yourself here:

btw:

Because, other companies don't have risk appetite like this:
This is how ___ does magic for Adani!
CBI raided NDTV Adani bought NDTV
CCI raided Ambuja Cement Adani bought Ambuja Cement
ED raided GVK Adani bought GVK's Mumbai airport
Income Tax raided Quint Adani bought Quint
Income Tax raided Nellore Krishnapatnam Port Adani bought Krishnapatnam Port
the list goes on and on...

theirs no point in arguing with this people, they believe whatever they want to believe ,adani is the lord and provider of our nation ,the wealth maker as they say, he could admit to all his evil doing in front of camera and this will still dance to how great he is, they wont care unless the fire burns their house ,fun fact they are being robbed blind and are to realize that, as a taxpayer it hurts to share country with such people

Why don't you ask why other companies/conglomerates don't have the risk appetite that Adani does, especially with infra which often has long gestation periods and a lot more challenges?

they don't have a prime minister as a sales man ,handing out defense contract and changing laws to give special concession ,not to mention helping with unlimited loans.
adani buys coal from Australia using money from government ,sells the same coal at higher price to the same government .

 

[ajeetone]

I do not have the guardrails you seem to have when thinking about these things. Crony capitalism is a necessary but not sufficient condition for doing what an Adani does. I have clarity about the larger goal and threat to us here. I also have clarity on the fact that this is 'amoral', which puts it beyond the grasp of most people who can't imagine operating out of that framework. Once you start seeing things this way, it's hard for me to subscribe to the sort of view you have- a simplistic explanation for complex things.

Oops these Adani's fans...

 

[eternoMind]

Our systems are corrupt and rotten to the very core, anyone who runs a business in India knows it as fact especially when they work on government tenders and contracts, just look outside your window and look at the sorry state of our roads and infra, nothing gets approved or goes ahead without bribery being involved on most if not all levels, believing that the norm doesn't apply to one certain individual is being naive.
Instead of accepting the faults in our system and moving towards positive change, we end up deflecting the blame from our incompetent authorities (who have a shitty track record to begin with) time and again.

Yes, corruption is real. Yes, our system is faulty. Now how do we achieve our goals as a nation given these faults? That's the problem our politicians face. The rise of the likes of Adani is because of the system, not despite it. These are the cards that you're dealt with, now how do you play them against a world that operates on geopolitical amorality? How do you position yourself in a world that is going from unipolarity to multipolarity (which hasn't happened since before WW2)?

If you say these are none of your business as an honest, hardworking, tax-paying, and duty-bound citizen, that's fair.

theirs no point in arguing with this people, they believe whatever they want to believe ,adani is the lord and provider of our nation ,the wealth maker as they say, he could admit to all his evil doing in front of camera and this will still dance to how great he is, they wont care unless the fire burns their house ,fun fact they are being robbed blind and are to realize that, as a taxpayer it hurts to share country with such people

they don't have a prime minister as a sales man ,handing out defense contract and changing laws to give special concession ,not to mention helping with unlimited loans.
adani buys coal from Australia using money from government ,sells the same coal at higher price to the same government .

A question for you - let's assume what you're saying is true, about Adani shortchanging the govt on coal. Now, let's say the same govt relies on the execution ability of Adani to build an infra project in another country that others (like our PSUs) wouldn't touch or can't touch. Bear in mind that this infra project would be of geopolitical value - maybe it'll help boost the popularity of friendly (to us) politicians in that country, offer a military advantage for us or thwart a defence or economic threat from a rival country.

In such a scenario, what would be the right approach?