Gautam Adani

Adani Watch, News

Adani axes projects and spending in wake of Hindenburg rout

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Major fossil-fuel projects have a question mark hanging over them since Adani’s Hindenburg-driven credit crunch. Three months on from the bombshell Hindenburg report, the Adani Group’s fortunes are yet to turn. The Hindenburg allegations have created a lasting political scandal in India. Meanwhile, on the business side of things, the group faces a persistent debt crunch. Continuing media scrutiny has resulted in a flow of damaging revelations about the group’s businesses. Despite a halting recovery in the stock markets, the group’s net loss since the Hindenburg report is still over US $100 billion.

Adani Watch, News

Hindenburg fallout generates rare unity amongst Indian opposition parties

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A month after the release of the explosive Hindenburg report and the shock waves continue. The report has caused a firestorm in the Indian Parliament. The country’s Supreme Court has been deluged with cases arising from the Hindenburg allegations. Several major Adani projects have been cancelled or shelved as speculation mounts about the group’s financial health. Allegations swirl in the international press about the role of Vinod Adani, the older brother of Group founder, Gautam, in a network of Adani-invested entities registered in tax havens. Fears are now openly expressed in the world’s financial press that funds invested in ‘green’ Adani companies may have been used to back new coal projects.

Adani Watch, News

Adani completes takeover of formerly independent TV station

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The Adani Group is now the majority owner of the Indian television news network NDTV (New Delhi Television) after its co-founders, husband and wife Prannoy and Radhika Roy, sold most of their stake to the Group over the Christmas period. In a statement, the Roys said they have had discussions with Adani Group chairman, Gautam Adani, and that they are hopeful he will preserve NDTV’s values of Trust, Credibility and Independence.

Adani Watch, News

Adani Power Limited vs Haryana: The making of a power crisis

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An engineers’ union has alleged that an Adani-owned coal-power station is part of an unauthorised scheme to divert electricity that is contracted to supply the northern Indian state of Haryana to the western state of Gujarat – the home state of Adani chairman Gautam Adani and India’s Prime Minister Narendra Modi. According to the union’s complaint to authorities, the diversion occurred in the peak of the summer months, while Haryana was facing a debilitating heat wave and rolling blackouts.

Adani Watch, News

Adani’s growing stranglehold on the region of Godda

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The Adani Group has a growing stranglehold over the city of Godda and its surrounds where the Group is building a huge coal-power station. The power-plant complex has subsumed the local police station and there are fears Adani will soon swallow up previously publicly-owned prime real estate in the city. Adani is also supporting a controversial initiative to foster Hinduism amongst non-Hindu children who belong to Adivasi (or tribal) communities.

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