There is again a new report on Adani group, alleging that the group imported billions of dollars of coal prices above the market rate. And senior Congress leader Rahul Gandhi on Wednesday has asked Prime Minister Narendra Modi to order a probe into reports on Adani. A report had appeared in Financial Times which alleged that Adani group, India’s largest private coal importer, has been inflating the fuel price which is causing millions of Indian consumers to overpay for electricity. The Financial Times had reviewed the custom records, which showed that Adani used foreign intermediaries in Taiwan, Dubai and Singapore to import $5 billion worth of coal at prices that were at times more than double the market price. Financial Times also reported that one of these companies is owned by a Taiwanian businessman who was recently named as a hidden shareholder in Adani companies by FT. This allegation on Adani group was made seven years ago when there was a probe by the Directorate of Revenue Intelligence. Adani Group has denied the allegations. It said that the Financial Times report is based on “old, baseless allegations” and the report is “a clever recycling and selective misrepresentation of publicly available facts and information.” Well, few months back Hindenburg Research had accused Adani of stock manipulation and accounting fraud. The case on this is still going on in the Supreme Court of India. Hindenburg Research has brought a Chinese angle in its report on Adani Group. Hindenburg had pointed out that the Adani Group has not clarified its relationship with a Chinese national (Chang Chung-Ling), despite a plethora of linkages. Hindenburg had asked about the nature of Chang Chung-Ling’s relationship with the Adani Group. Now, after this latest report on the mystery of coal imports by Adani group, the opposition party is questioning PM Modi to order a probe into a case. The PM is silent on it. The Prime Minister has still not made any official or indirect statement on the Adani-Hindenburg report, amidst all the allegations that Modi and Adani are one team. Also there is a special term which the opposition uses to refer to the Modi-Adani relation. Why this silence from our Prime Minister? Shouldn’t he be answering the opposition parties who are questioning him on his relations to Adani to put this matter to rest?
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