As political developments over the past year seem to have weakened the hold on power of India’s Prime Minister Narendra Modi, the Adani Group has been reaching out to leaders of political parties opposed to Modi’s ruling BJP party. Is Group head Gautam Adani of the view that his proximity to Modi may work against his business interests in the future?
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.
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.
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.
Civil society member, however, feel this is still too short a period for any meaningful public consultations on wide-ranging structural reforms in the mines and mineral sector. Also, it excludes the affected communities.
Members of civil society and concerned activists have condemned a proposal for mining reforms issued by the Ministry of Mines. The notice that was made public on August 24 proposing substantive changes to mineral laws, rules, and regulations, is seeking public comments within a period of 10 days.
