Targeted by means of false propaganda: Adani Group

Underscoring that it has a accountability to its shareholders and the native and worldwide monetary establishments, the Adani Group mentioned it has been “targeted through false propaganda” on quite a few events. The firm mentioned this in a be aware titled “An Open Letter on the need to act against false propaganda impacting our shareholders”, posted on Twitter Saturday.
“We reach out across many remote parts of the country and we are proud that we are a source of direct and indirect employment to hundreds of thousands of people … Our six listed companies have consistently delivered exceptional gains to our shareholders. We have a responsibility to them and the local and international financial institutions that have demonstrated faith and invested in the Adani Group,” the Ahmedabad-based group mentioned.
“…on numerous occasions, Adani Group has been targeted through false propaganda. We have also been a victim of manufactured online media campaigns aimed at spreading malicious lies about our operations and inflicting harm to our shareholders,” it added, with out referring to any explicit allegation.

Last week, BJP’s Member of Parliament Subramanian Swamy known as Adani a “trapeze artist” and mentioned his group owed Rs 4.5 lakh crore as NPA to banks, an allegation that the group denied saying it has by no means defaulted on any financial institution mortgage.
Earlier this month, The Indian Express reported that crimson flags raised by the Department of Economic Affairs and Niti Aayog, with the tender situations of the 2019 spherical of airport privatisation, had been brushed apart by the Public Private Partnership Appraisal Committee (PPPAC), and that this successfully paved the best way for Adani Group to win the rights to function, handle and develop all six airports that had been being privatised.
This newspaper additionally reported that given the unprecedented focus of energy in at the least seven core sectors in company India, from pharma and telecom to airports and ports, the Competition Commission of India has launched a set of detailed investigations available on the market dynamics of every sector. This features a overview of the mannequin concession agreements in key infrastructure sectors like airports, ports and electrical energy, by which the Adani Group is a serious participant.