AAP alleges Adani Group involved in major coal scam
New Delhi: The Aam Aadmi Party on Friday accused the Adani Group of being involved in a major corruption scandal and alleged exploitation of public funds in the coal brokerage business.
During a press conference, AAP leader and Delhi Cabinet Minister Saurabh Bharadwaj shed light on these allegations referring to a report published in the Financial Times, a London-based newspaper.
Bharadwaj detailed how the Adani Group is purportedly involved in importing coal from foreign sources at lower prices and subsequently selling it within India at double or even higher rates, all under the apparent watch of the central government.
He emphasised that this exploitation would directly impact the nation’s citizens, as the increased costs incurred in acquiring coal from abroad would be passed on to the public through elevated electricity bills.
“In this entire matter, the significant point is not just that the Adani Group is allegedly importing coal from abroad at low prices and selling it in India at nearly double the cost,” Bharadwaj stated, “Rather, the crucial issue is that this alleged deception, which is happening with the public of this country, is being conducted under the government’s ‘watchful eyes.’”
According to the report cited by Bhardwaj, the Adani Group allegedly employs intermediaries to facilitate coal imports from overseas. These intermediaries, based in Taiwan, Dubai, and Singapore, enable the Adani Group to import coal into India. The report claims that over the past two years, the Adani Group has imported approximately USD 5 billion worth of coal through these intermediaries, nearly double the market price.
Furthermore, the report reveals that the Adani Group presents coal purchases as if they were handled by several individuals when, according to the Financial Times report, the coal came directly from Indonesia to India. “This kind of fraudulent layering is generally associated with money laundering businesses,” Bhardwaj pointed out.
AAP spokesperson Reena Gupta, highlighted a specific case where the price of coal allegedly increased substantially upon its arrival at Adani’s port in India. “A scam of Rs 20 crore was carried out on a single ship, and this money went directly to Adani,” Gupta stated. She also called for a thorough investigation into the Adani Group and the return of allegedly misappropriated funds to the public. Amidst these revelations, AAP MLA Kuldeep Kumar expressed concern that the impact of this alleged corruption would ultimately burden the common people of the country.
