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Britain colonised India to stop Adani: CFO of conglomerate takes dig at investigating report claiming group's role in alleged coal scam
Coal Scam
Photo courtesy: Screenshot grab from YouTube video

Britain colonised India to stop Adani: CFO of conglomerate takes dig at investigating report claiming group's role in alleged coal scam

| @indiablooms | 23 May 2024, 12:06 pm

New Delhi/IBNS: The Adani Group CFO has taken a dig at an investigating report claiming the conglomerate was involved in the alleged coal scam.

In an X post, Adani Group CFO Jugeshinder Robbie Singh said,"A major investigative report, on why #GreatBritain had to colonize India in 1757 AD, by @FT @BBC et al. Finding of Investigative Report: To stop formation of Adani Group. Now you Know everything."

A Financial Times report has claimed the Adani Group passed off low-quality coal as far more expensive cleaner fuel in transactions with an Indian state power utility.

The report claims the documents "suggest that Adani may have fraudulently obtained bumper profits at the expense of air quality, since using low-grade coal for power means burning more of the fuel."

The Financial Times report further states, "Invoices show that in January 2014 Adani purchased an Indonesian shipment of coal said to contain 3,500 calories per kilogramme.

"The same shipment was sold to the Tamil Nadu Generation and Distribution company (Tangedco) as 6,000-calorie coal, one of the most valuable grades. Adani appears to have more than doubled its money in the process, after transport costs."

The report has triggered a political blame game as the Congress has hit out at the Modi government, which it accuses of having close links to the Adani Group.

Congress top leader Rahul Gandhi shared the article and posted on X, "A huge coal scam has come to light under the BJP government.

"Through this scam that has been going on for years, Modiji's favorite friend Adani has looted thousands of crores of rupees by selling low-grade coal at three times the price, the price of which the common people have paid from their pockets by paying expensive electricity bills.

"Will the Prime Minister tell how many tempos were used to keep ED, CBI and IT quiet on this open corruption? After June 4, the Indian government will investigate this mega scam and account for every penny looted from the public."

Rahul Gandhi's fresh salvo against the Prime Minister comes weeks after Narendra Modi hit out at the Congress on the "Adani-Ambani" link.

In the campaign trailer, Modi, who spearheads the ruling Bharatiya Janata Party (BJP), questioned, "He stopped abusing Ambani-Adani soon after the elections were announced. I want to ask the prince how much money he has received from Ambani-Adani. How much black money has been taken by the Congress?

"What deal has been struck that they have stopped abusing Ambani-Adani overnight? It's fishy. They have definitely received black money for which they have stopped abusing Ambani-Adani."

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