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Billionaire Gautam Adani and his Adani Group’s troubles are not taking the name of abatement. A dispute settles down, before that a new controversy comes to the fore. The group has been under fire since the Hindenburg report came out in January. In the midst of all this, the Adani group has presented a new clarification on Monday. The group has now made public the full account of the last four years. Along with this, the Adani group has also said that there is a competition going on to destroy it.
So many funds received in four years
The group has reported that since the year 2019, it has received $ 2.87 billion from selling stake in its companies and of this $ 2.55 billion has been invested in various businesses. According to a PTI news, Abu Dhabi-based International Holding Company PJSC has invested $ 2.593 billion in companies such as Adani Enterprises Ltd and Adani Green Energy Ltd of Adani Group. Has invested, while the promoters have sold stake in Adani Total Gas Ltd and Adani Green Energy Ltd to raise $2.783 billion.
These allegations in the FT report
This clarification of the Adani group is being linked to a recent report by the foreign newspaper Financial Times and the ongoing political controversies in the country. A report in the Financial Times said that most of the foreign direct investments received by the Adani group came through foreign companies linked to the Gautam Adani family. According to the news, foreign entities linked to Adani have invested at least $2.6 billion in group companies from 2017 to 2022, which is 45.4 per cent of the total FDI of $5.7 billion received by the group during this period. Apart from the Financial Times report, Congress leader Rahul Gandhi has also alleged that the Adani group has received Rs 20,000 crore from shell companies.
Money invested in these companies
Rejecting these things, the Adani group has said that the investments talked about in the news have already been publicly discussed. Information about this was given publicly on 28 January 2021 and 23 January 2021. The group says that whatever funds have been received, the promoter bodies have given Adani Enterprises, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Power Ltd. Reinvested in companies like
The group said – withdraw the news
The Adani group has also asked the Financial Times to withdraw the news. In a letter to the Financial Times, the group said, “We understand that competing to destroy Adani can be tempting. But we fully comply with securities regulations and will not compromise ownership and funding in any way.” Don’t want to be kept in the dark.”
This is the cleanliness of Adani group
The Adani group said the promoters raised $2 billion in January 2021 by selling 20 per cent stake in Adani Green Energy to Total Energies. Prior to that, the promoters raised $783 million by selling 37.4 per cent stake in Adani Total Gas to Total Energies. Total Energies bought the overseas investment entities of the promoters to make investments. The same funds received abroad were invested in group companies, which some people are now calling the money from shell companies.
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