In a rare instance of not getting its way, the Adani Group failed earlier this year to acquire the assets of the scandal-tainted finance company, DHFL. However, with messy legal disputes potentially de-railing the outcome of the bankruptcy process, there is a chance that a fresh round of bidding may yet take place. This would put Adani back in the race for DHFL’s assets.
One of the key issues being agitated by protestors led by farmer unions at the borders of New Delhi concerns a provision in the Central government’s new farm laws that allows disputes over farming contracts to be adjudicated only by the government bureaucracy, with no provision to approach the courts. An example of what a bureaucratic inquiry can look like is provided by the case of the “New Haven” apartment complex in Bahadurgarh, Haryana.
An FIR filed by the Delhi Police and proceedings in a case at the Delhi High Court alleges that GeneStore India, a biotechnology company, supplied “low-quality” and “unreliable” rRT-PCR testing kits for Covid-19 to various diagnostic labs across the country, offered bribes to diagnostic laboratories, and failed to pay their financial dues.
In August 2020, the Ministry invited public comments on proposed mining reforms. In January, the proposal was approved by the Cabinet. Now, in response to an RTI application, the ministry said that of over 12,000 submissions that it received, it only considered those suggestions that were “committed for reforms.”
Two BJP MPs have levelled allegations of malpractices against the professional in-charge of the insolvency resolution process of Topworth Steels and Power, an ailing company promoted by Abhay Lodha and Surendra Lodha. Documents with NewsClick suggest that after the resolution professional discovered fraudulent transactions in the company, his dismissal was sought by the two MPs. An exclusive investigation.
An appearance on Australian radio programme The Wire as a correspondent reporting on India’s farmer protest
Recent media reports suggest that the State Bank of India (SBI) – India’s largest public bank – is ‘all set to offer’ a billion-dollar loan to Adani’s Carmichael coal mine in Australia. These reports come five years after a similar proposal was scuttled. In the absence of official confirmation from the SBI, the community has re-launched protests against the bank.
Angry at news reports that the State Bank of India is about to loan Adani money for its Carmichael mine, campaigners in the Indian state of Goa have protested outside the bank’s offices. The action was in solidarity with similar protests occurring in Australia and around the world. It is the first StopAdani protest to occur in India.
Rival investors are up in arms as the Adani group makes a last-minute attempt to acquire a bankrupt home-loan company in India. One such investor, the Piramal group, has written a letter to India’s Prime Minister Narendra Modi claiming that Adani’s attempt violates the rules of the bidding process.
