
Adani Group is under scrutiny for allegedly selling low-grade coal to TANGEDCO at high prices. Reports indicate that in January 2014, two dozen shipments originally priced as low-quality coal were sold for triple the cost. The fraudulent transactions, which allegedly pocketed $70 million for Adani, have been linked to a pattern of price inflation. These revelations, brought to light by the Organized Crime and Corruption Reporting Project, have stirred political and bureaucratic circles. The accusations also reflect poorly on the Congress-led UPA government in power at the time. Adani is accused of obtaining bumper profits at the expense of air quality. Despite these allegations, Adani Group's market cap has regained the $200 billion mark as the company rebuts the claims.
Revelations by the Organized Crime and Corruption Reporting Project regarding the low quality of coal being supplied by the Adani group have created a flutter in political and bureaucratic circles. https://t.co/phyi3il4eL
#AdaniGroup market cap regains $200 billion mark as company rebuts coal invoicing allegations https://t.co/rheIqlercW
💰 Adani Group accused of over-invoicing coal prices in January 2014 👎 Not good news for Rahul Gandhi, as Congress-led UPA was in power at that time 🌬️ Adani accused of "fraudulently obtained bumper profits at the expense of air quality." https://t.co/BeqEErNIaK




