SEBI likely to investigate Adani Green Energy for false disclosure
In March, the company told stock exchanges that it was not aware of any investigation against it in the US. The DoJ indictment unsealed on Wednesday says this is not true.
Adani Green Energy
Too clever by half How Adani’s lobbying may cost Adani Green over US $100 million
An import-duty on solar equipment that the Indian government imposed following lobbying led by the Adani Group has been a public-policy disaster. The policy was designed to protect India’s domestic manufacturing of solar panels. But it has failed in that objective and slowed down India’s transition to renewable energy. A duty-evasion scheme has allegedly defrauded the government of at least $228 million. The price of solar power in India has increased. More coal is being burned. And associated court rulings may cost Adani Green over US $100 million.
The Adani Group’s alleged ‘related parties’ in positions of responsibility
AdaniWatch examines two examples where appointments of ‘independent directors’ to Adani Group companies have raised questions. One concerns a director whose financial firm has provided important financial advice to numerous Adani companies. Another concerns a director who appears to have been appointed before a mandatory ‘cooling-off period’ for former staff and others with a pecuniary relationship had expired.
Adani’s solar plans endanger livelihoods and wildlife in Rajasthan
A recent protest against alleged encroachment on pasture by an Adani solar-power project in the western Indian state of Rajasthan was the latest in a series of conflicts spurred by an aggressive plan for huge arrays of solar panels in this arid zone. The sprawling industrial installations threaten ancestral grazing lands, oases and some of the last habitat of the Great Indian Bustard. Such conflicts could be avoided with proper regulation and community consultation.