INVESTIGATION - What does the #AdaniCoalimportScam mean - Thread
After reading someone would say "Your High Electricity bill and part of the air pollution in India may not by chance. It might be by design. It’s may be linked to Adani’s (among others) fraud, greed, corruption and manipulation." ..
How? Read! 1/n
#Adani #Coal #scam #pollution #environment #AirPollution
After reading someone would say "Your High Electricity bill and part of the air pollution in India may not by chance. It might be by design. It’s may be linked to Adani’s (among others) fraud, greed, corruption and manipulation." ..
How? Read! 1/n
#Adani #Coal #scam #pollution #environment #AirPollution
Adani is the biggest coal developer in India, Largest importer of coal in India and largest off taker in Indonesia, South Africa and USA for India.
What this means is that Adani supplies coal to a lot of government, and private players for electricity generation. & of course uses for its own electricity generation, which he supplies in Mumbai and other parts of the country.
2/n
What this means is that Adani supplies coal to a lot of government, and private players for electricity generation. & of course uses for its own electricity generation, which he supplies in Mumbai and other parts of the country.
2/n
Why is this important?
Because in the importing of coal Adani is doing a massive fraud. Not just in price of coal which he is charing 3X, but in terms of the worst thing one can do in already polluted India, he is importing worst quality of coal that causes more pollution, and selling it as best quality.
3/n
Because in the importing of coal Adani is doing a massive fraud. Not just in price of coal which he is charing 3X, but in terms of the worst thing one can do in already polluted India, he is importing worst quality of coal that causes more pollution, and selling it as best quality.
3/n
Look at this. As @AmitShah says 'Chronology samajhiye' (of the fraud)
Same coal, same vessel, same quanity. Three different documents. & it changes from low quality to high, and triples in price!!
1 - A certificate of Origin issued in Indonesia shows - Jhonlin supplies coal directly to TANGEDCO (at $28/MT)
4/n
Same coal, same vessel, same quanity. Three different documents. & it changes from low quality to high, and triples in price!!
1 - A certificate of Origin issued in Indonesia shows - Jhonlin supplies coal directly to TANGEDCO (at $28/MT)
4/n
2 - A commercial invoice from Middleman ‘Supreme Union Investors Ltd. BVI’ to Adani shows - it supplied the same coal to Adani at $33.74/MT and the quality mentioned here is below 3500KCAL.
5/n
5/n
3 - A commercial invoice from Adani to Tangedco shows - Adani supplies the same coal to TANGEDCO at $91.91/MT, and the quality has now changed to 6000 KCAL. (fraud)
6/n
6/n
This is the kind of evidence the DRI wanted to get, but Adani stopped it in Bombay High court, and subsequently it’s languishing in the Supreme Court.
This one end to end document and a year long investigation shows - 24 shipments of coal supplied to TANGEDCO, Tamil Nadu government power generation unit shows the scale of fraud of Adani.
7/n
This one end to end document and a year long investigation shows - 24 shipments of coal supplied to TANGEDCO, Tamil Nadu government power generation unit shows the scale of fraud of Adani.
7/n
Adani sold $28/tonnes worth of coal at $91/MT, and worse he claimed the coal is of 6000KCAL, Calorific value,(high quality coal) while in reality it was of 3500KCAL. (low quality coal)...
The difference is 106 million I.e. 636 crores 636,00,00,000.
8/n
The difference is 106 million I.e. 636 crores 636,00,00,000.
8/n
This was just one purchase order we investigated, and this was one instance back in 2013.
Just between 2012 and 2016, and only to TANGEDCO the total coal directly supplied by Adani in 6 different purchase orders was 1,19,10,000 MT
So, if someone was to apply the same calculations, which is also going to be a conservative estimate. $28 as original price, and the actual price at which Adani sold it, and calculates the difference. It’s going to be 5000 crores!
9/n
Just between 2012 and 2016, and only to TANGEDCO the total coal directly supplied by Adani in 6 different purchase orders was 1,19,10,000 MT
So, if someone was to apply the same calculations, which is also going to be a conservative estimate. $28 as original price, and the actual price at which Adani sold it, and calculates the difference. It’s going to be 5000 crores!
9/n
Remember the recent “Power shortage”, and the need for importing coal?
This is just for TANGEDCO, and what the DRI note said was about all imports by Adani as well as 40 other players.
DRI alert - worldtradescanner.com
10/n
This is just for TANGEDCO, and what the DRI note said was about all imports by Adani as well as 40 other players.
DRI alert - worldtradescanner.com
10/n
Imagine if the courts, and government would have let its own agency DRI to continue the investigation, what would have happened.
Wonder how much we are looted!
Because it didn’t happen, and read again - “Adani is the biggest coal developer in India, Largest importer of coal in India and largest off taker in Indonesia, South Africa and USA for India.” now draw your own conclusions to the amount of fraud that might have happened for over last 10 years.
11/n
Wonder how much we are looted!
Because it didn’t happen, and read again - “Adani is the biggest coal developer in India, Largest importer of coal in India and largest off taker in Indonesia, South Africa and USA for India.” now draw your own conclusions to the amount of fraud that might have happened for over last 10 years.
11/n
Now read again - “Adani is the biggest coal developer in India, Largest importer of coal in India and largest off taker in Indonesia, South Africa and USA for India.”
It’s the job of the government to serve and protect it’s citizens. Common people cannot keep on paying high electricity bills and keep dying due to bad air quality.
The Government needs to investigate this. (I know, they won't!)
12/n
It’s the job of the government to serve and protect it’s citizens. Common people cannot keep on paying high electricity bills and keep dying due to bad air quality.
The Government needs to investigate this. (I know, they won't!)
12/n
ft.com/content/7451f2…
Adani suspected of fraud by selling low-grade coal as high-value fuel
Indian conglomerate rejects accusations of inflating prices in transactions with state utility
occrp.org/en/investigati…
New Evidence Bolsters Allegations Adani Group Overcharged for Coal - OCCRP
An investigation into whether India's powerful Adani Group was overvaluing the coal it sold to power...
Loading suggestions...