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What is the truth behind the Guardian story alleging financial fraud by Adani?

It seems that the well-funded Australian anti-coal lobby ignites a fake/ half-truth/ malicious news against the Adani Group followed by their Indian supporters and counterparts amplify the same.

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The timing of story published by The Guardian on the claims refuted by Adani three years back raises eyebrows. In past few years, Adani Group has been the prime target of a section of politicians and their pet media only because the diversified group has always preferred to mind business instead of giving a befitting reply to the distractors.

Except for a couple of portals known for running media trials, none of the responsible media houses bothered to reproduce so-called investigative report of Guardian. Repeating frivolous allegations against Adani Group reveals the intentions of lobbyists trying to derail Australian ambitious coal mining project.

The Guardian story alleging the financial fraud to the tune of Rs. 15 billion has come at a time when the Adani Group is set to kick off Australia’s ambitious coal project. The company in its statement has denied the allegations and said, “DRI issued a show cause notice in 2014, four years after the transaction carried in the year 2011. We have fully co-operated, and shall continue to co-operate with the investigating agencies.”

These allegations were reportedly made in 2014, three years after the said transaction took place, with 2014 general elections round the corner. Was it to malign the image of corporate houses of Gujarat, the home state of Prime Minister Narendra Modi?

The statement further reads, “The fact that our projects have incurred the lowest cost across central, state and private utility players has gone to establish the robustness of the processes followed by our group. Alleged cost escalation contradicts our success in supplying cost effective power to the public utilities that procure electricity through competitive bids.”

Similar allegations have been made earlier too by various anti-coal lobbies in Australia claiming Adani is polluting the wetlands close to Abbott Point. However, it was later discovered that the samples that one of the reputed news portals was from the holding area, not the pond area. In fact, it was later discovered that the black pond that the anti-coal lobby was referring to, was a naturally occurring phenomenon.

The anti-coal lobby also showcases an image for Adani about being a coal driven thermal power company, while discounting Adani has built world’s largest solar power plant in India and India’s largest solar module manufacturing facility.

What is interesting about these allegations by anti-coal lobby against Adani is that they all have come just before major announcements in favour of Adani Group. What is also worth noting is that the same news is quite regularly being covered by a few common news portals.

In conclusion, it seems that the well-funded Australian anti-coal lobby ignites a fake/ half-truth/ malicious news against the Adani Group followed by their Indian supporters and counterparts amplify the same. The anti-coal lobby as well as their supporters in India (who primarily drag Adani out of Political associations) ensure that they create hype over social media trying to malign the corporate image of Adani.

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