Fraud "Indian Media, Business Today" pushing Fake News for Adani

Fraud "Business Today" pushing Fake News for Adani : Adani Green Energy Limited. 

 

S&P Ratings are dubious at best, but they don't give these kind of Promotional details in ratings report.

The fraud Correspondent of Business Today does not cite any news agency, so it seems his editor and his lack of knowledge are the only source behind this report.  In this report,  they cite 2 Private Limited companies registered at ROC-Ahmedabad and with same Adani House address; in a group of 3 limited companies, as if they are listed and spread all over India. 

A business newspaper that can't get business entities name right should be closed down. 

"Wardha Solar (Maharashtra) Ltd, Kodangal Solar Park Ltd, and Adani Renewable Energy (RJ) Ltd.", Looks pretty Pan-Indian, right? Wrong. 

Let's rip the facade out of these companies, firstly, they are Private Limited company. Wardha Solar (Maharashtra) Private Limited is registered with Registrar of Companies- Ahmedabad and do not have a presence in Wardha, Maharashtra.A rudimental Google map check would have shown the journalist that, you will find NVR solar power and lots of other player there. But no Adani outfit, as of yet.

Zaubacorp clearly states, Wardha Solar (Maharashtra)'s registered office is not even in the state of Maharashtra,  but in Adani Corporate House in Ahmedabad. Full Address is :

"Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S G Highway, Khodiyar, Ahmedabad Ahmedabad GJ 382421 IN ."

 Kodangal is a Town in Telangana but my Oh my, Kodangal Solar Park Private Limited is in Adani House, Ahmedabad. 

Same Adani Corporate House address and even the email address is same .. Pragnesh.darji @ Adani.com 

🤣🤣🤣🤣

Adani can get new and fake people to be Directors of his fake companies, but can't get a new email id for new companies??

Again Google Map fails to point out to any Kodangal Solar Park in Kodangal, Telangana;  whereas they show every temple and every eatery in Kodangal town.

Must be an international conspiracy by Google, right? 🤣🤣🤣🤣

Adani Renewable Energy is at the same address too:

Third one is indeed a listed limited company and even has a Adani family member in Board of directors and other directors include directors from previous two dubious and most probably "Outright fraud" companies. 

Now it seems for one venture, Adani has two limited companies, Adani Green Energy and its subsidiary Adani Renewable Energy and took public money in form of shares (probably Bonds and loans from Government run Banks too), if you go by this business today report. 

Neither Business Today nor S&P, not even SEBI or Corporate Affairs ministry of India would however comment on these 29 companies that I found on CorporateDir.com 

All point to same Adani House Address in Ahmedabad, what kind of fraud are Adani Green Energy twenty-eight limited or Adani Green Energy thirty-two limited?

Modi wants to destroy Privacy of Indian Citizens

 Privacy Centric Internet Search Engine Duckduckgo.com Is Banned again in Modi's digital India 

I mean Modi wants to know which Indian is Searching Corporate Directory of Tax Havens like Mauritius , Cyprus,  Belize , Virgin Islands, Cyprus , Bahamas etc etc. Duckduckgo never stores such information , forget sharing It.

Therefore, Duckduckgo.com and it's own browser are banned in India since February, 13, 2023. By order of Modi Government. Timing is so convenient, just when  Adanigate was exploding.

 

If you try to go to the search engine's website, If you have a good browser it will say "Connection reset" and in "Private/Incognito mode" you will get the reason. 

Internet Providers in India are a Modi-loving triad (Jio, Airtel, Vi) and the billionaire owners are heavily indebted to Modi run Indian Banks, so they comply with every Government order. ISP's themselves store Private data of Indians and sell them for profit. You see these lot are "Born & brought up Traders", if they find more profit in selling umbrellas than providing internet Access.. they will switch trade within a heartbeat. 

Isn't there like Millions of computer programmers in India, why aren't they complaining?

Yeah, yeah, we have the numbers.. but think again, are they all "Software Programmers"? Just opening an editor and copying other people's code is what they do, 90% of them.

Remaining 10% has to clear their shitty code. 

There are job ads for "Technical Architects" in LinkedIn in India for API coding, seriously these IT dudes don't know what is "Software Architect's job profile" or what API stands for. You don't need any "Software Architect" to implement Salesforce Shopping Cart, duh.. the architecture building part in APIs are already complete. 

Only graphics designers show great degree of innovation and ingenuity. 

Zero creativity Software development is what is going on now, in India.  The backend is in the cloud, so no database management hassle.

Front end looks are provided by graphics guys. 

Coding is mostly Godforsaken Python and free APIs. Most python APIs are wrappers in reality. 

And AI & Python are favourite combo of latest AI dudes. They don't know what "Neural network" is but write 3-4 AI APIs in their CV which are built of NN.

Of course, such IT dudes don't like Duckduckgo.com, which will take them to pages of good books. Google is much more useful to them, they steal codes from tech forums and call it research.  

After all, they have to do 5 hours of social media work in 8 hour shift. I'm not talking about obscure small firms, I'm talking about software professionals in IT majors and even International majors, like IBM, Google, Microsoft. 

It is only due to brilliance of that "10%" of hardworking folks, that these software firms exist. At day end, they are usually too tired search anything on web.

So this is the state of "Digital India" as of today.

And if you search "is duckduckgo.com banned in India", Daft fucker Google will show you news article from 2020.

Since Google has :

1) Indian Origin CEO (he has been US citizen for over a decade now)

2) Snapped Photo of Modi and sends pro-BJP (often Xenophobic and false) propaganda in "Google News".

3) Google gives Free OS for Smartphone (and steals to sell your personal information later). Although I don't know a single case in the history of cell phones, where end user was charged separately for OS of Phone. 

So will there be any hue and cry about "Blocking of Duckduckgo", I don't think so.

Google CEO was recently awarded "Padma-Chugalkhor" (or something like that), will happily tell Modi that who all are searching for proof of Adani-Modi corruption or Adanigate. 

Disclaimer: Blogger, who hosts my blog is also owned by Google, but I'm not a very popular blog writer. Hopefully they will let my blog be there as a testament that someone had protested when Duckduckgo.com was blocked by Modi Government.

BJP is so Stupid: They are attacking Soros, who invested in Adani via Vanguard Fund

 Attacking Investors of Adani, to save Adani : Is that BJP strategy now.

 Well Western Media had reported that BlackRock and Vanguard are two major Investors In Adani and lost all of its notional gains in Adani group shares . 

Ha ha ha, India's Foreign Minister JaiShankar is so stupid that He started accusing George Soros, a major Investor In Vanguard Fund of "Conspiracy against India" .

It actually pays to know the intrinsic working Patterns of Wall Street and not to follow "Twitter Hashtags" for news.

If only our foreign minister Jaishankar and Opposition leader Chidambaram knew where George Soros has invested, their much publicised stupidity makes all "Indians" including myself, look Stupid . 

Why I'm excluding Smriti Irani and OpIndia readers? They are stupid that everyone knows, their publicized stupidity doesn't not reflect on normal Indians.

So George Soros as a major Investor in a Wall Street Fund, Vanguard, has full rights to ask for a clarification from that country's Prime Minister, where largest Fraud of this century allegedly happened. 

Got that, Stupid Indian Media??!! Or should I draw a diagram for you:

 Modi                      George Soros

Promotes⬇️                      ⬇️ Invests

Adani        ↔️↔️↔️ Vanguard

 if you still didn't get it, then your IQ is as low as Smriti Irani's .. or you are her true self, what are you doing reading my blog, go hug a cow and get kicked by the bovine .

😂😂🤣🤣

So Adani hired "Grant Thornton Bharat LLP"

 Ha Ha Ha .. In Godi Media Ecosystem "Grant Thornton Bharat LLP" is New York Based Law Firm.

 Ever since Gobi/Tarmuj Narendra Modi became the "Anointed Prime Minister" , Indian Media has been eating "Cow dung" and shitting "Cow dung" . 

They don't know "Grant Thornton" is primarily a Tax and Accounting firm, which provides Business and Tax Consultancy services. They have Zero expertise In "Defamation Or Gag Order Lawsuits" and that too in US, so they can't even send a legal notice to Nate Anderson Of Hindenburg research, yet that is Precisely What Indian "Shit-head" Media claimed . This is as absurd as KPMG doing "Earthquake Prediction" or PWC manning "Hubble Telescope". 🤣🤣🤣

Grant Thornton has been operating from Bangalore for more than 10 years.

But when did Indian Media fact check before writing a smear-job article, in fact, the local employees call it "GT" there. Perhaps to hide an inferiority complex with the PWC counterpart. 

Like most Accounting Hotshot firms , Grant Thornton operates by creating LLC and LLPs worldwide. I mean they know "Limited Liability" outfits would ensure that they themselves will pay next to nothing in Taxes and even for "accounting mistakes" no major financial penalties can be levied on them.

So current outfit is now called "Grant Thornton Bharat LLP" and according to its website, it operates in 6 cities. 

Now its Kolkata (Calcutta) address looked curious to me, their website even pointed to Google Map and I took a screenshot of it.

It is in Godforsaken in a "South 24 Parganas village" called Dhamaitala , 30 minutes away from Rajpur Crematorium in a building aptly-titled "Ambuja Eco-system". Although they happily put address in text as "Salt Lake City, Sector V" but that spot is 3 hours drive from Salt Lake City. Even if Salt Lake suburb is extended to 55 sectors, it will still not include much more developed Rajpur,  forget a village like Dhamaitala.

So an accounting firm which uses a rented (one presumes) in "Ambuja Eco-system" building will now audit "Ambuja Cements" and its major shareholder "Ambani Group" sitting at Dhamaitala, Rajpur. 

Or perhaps they will send a legal notice to Nate Anderson from Post Office there, Oh Sorry, no Post office at Dhamaitala.. they have to cross Adi Ganga Canal 😱and go to Rajpur. 

🤣🤣🤣🤣

Perhaps they will go to Baruipur 😱 Court and get an arrest warrant against Hindenburg research. 

🤣🤣🤣🤣🤣

Or they might take Railway Police from Sonarpur Railway Station and raid Manhattan offices of Hindenburg. 

😉😉😉🤣🤣

When Indian Godi Media smokes Pot, nothing is impossible.

Beware Of New Fraud on the Block: Nikki Haley

 Beware Of New Fraud on the Block: Nikki Haley 

Normally when you hear, An Immigrant's daughter and a person of Color (not Colour) is running for a president, you would think that's a radical and liberal thing to do..

Wrong, Numerous Indian Origin Conservative Politicians In UK, US and Canada has proven most Indian immigrant politicians consider themselves as "Indo-European" and not people of Colour .  They are brainwashed by Max muellar's oriental theory, which blurred the difference between "Classical Philology" and "Anthropology"; for they don't know "Indo-European" is only a branch of languages and not tribes of people . 

Nikki Haley claims her family Settled in Bamberg, after her family moved from Canada. Her father and mother received their quality education in Punjab and punjab was peaceful and serene in 1960's . They shifted to South Carolina in 1969, using Canada as a stepping stone to settle in USA. 

Her father worked as a Professor in Black American college and as a politician Nikki Haley doesn't Support "African-American" educational institutions. She and her party thinks government investing in such institutions are "Handouts". So there goes her "credentials for being Immigrant and being a person Of color" .

Just so you know, I don't consider "Obama or Kamala Harris" as proper "African-American", although they indeed have African lineage and American . 

When we say "African-American" and "People Of Color", we should include "Descendants Of African Slaves" first, who even after "Emancipation Of Slaves", were never treated like "equal right holding American citizens" and had to suffer "Segregation and Systemic Abject Poverty". Then you can include descendants of "Chinese Railroad workers" and "Japanese workers", of course, Native Americans must be included in that list.

"Persons of color" is not actually a skin colour category ,  it is a category of people who were historically marginalised and faced slavery and/or systemic poverty. An Indian-born American Professor's daughter  Never faced any of that because She was born after entire Civil rights movement, in 1972. She and her family enjoyed they fruits of Martin Luther King's struggle, but they don't like MLK that much.

As for his veteran husband's army duty, he actually worked in Nikki's mother's "woman's clothing store" and did one year of "Afghanistan Tour" as a "Reserve Army" member, when Nikki became NC governor. You can guess how much active combat duty, Mr. Haley received . 

These are out and out frauds, all they are after Is Money and Power. Don't say, nobody warned you.

If BBC had guts

 If Rishi Sunak had debt-free balls and Mr. Sharp wasn't a Tory crony ..

Then BBC would have strongly protested ,  the "Income Tax Survey" in both of BBC companies operating in India . 

Perhaps Indian Audiences are not aware, What is commonly known as BBC Delhi office, actually belongs to BBC Global News (India) private limited and BBC studio in Mumbai belongs to BBC Studios Private Limited . 

These Special Arrangements Happened during Modi regime in India and Conservative "Fuckkery" in UK, otherwise BBC used to be non-profit-making organisation. 

 I would have understood, if only Accounting Offices were raided, but the Income tax authorities took away phones of journalists too. And these journalists aren't even Directors of these companies , just employees of BBC India and have nothing to do with Accounting practices of these organisations. 

Now "A Fake Blonde Dumbo" Lady, came dressed like a "British Post Box" ..

Said on BBC World Service News, "BBC hopes that the situation will get resolved soon" ..

They didn't even mention, BJP's minister Anurag Thakur justified IT Department raid on BBC offices.  

And quickly moved on to their day job, "Pro-CIA propaganda" . I mean they gave "Chinese balloon" story 100 times more airtime than Adani's scams. 

Lynching of muslims under Modi, attack's on press freedom under Modi are never discussed in BBC world news. BBC's annual report says "Modi's India" is focus of BBC reports of current year .

Well, there is "India" , it does not belong to Modi or Adani, so they should not air pro-Modi programs like they were doing for last 8 years .

British People had this humiliation coming ..

For last 150 years , British High Society has been sucking up to Filthy Rich Indian Businessmen, at the beginning , it was only Parsees and then to Gujarati and other crony people from various Other states . 

Now Britain is full of filthiest and wealthiest of Indians, and in 40 years time, Indians would become Majority in UK, already having overtaken Welsh, Irish and Scots .

Therefore , standard Indian experience worldwide says, only the worthless ,  greedy and the humbug kind would be elected as people's representatives .  This is a strange Phenomenon ,  these evil qualities aren't manifested by entire Indian diaspora, but at the ballot box , Indian's evidently vote for the worst option .  Overwhelming Pro-Brexit Indian vote is the most recent example . 

Anyway, UK PM's Wife would be very happy about what happened In India today ,  I mean Infosys Share news wise. So why would Rishi Sunak protest against Modi.. God forbid ,  if Modi lets his ED, IT dogs on Infosys ,  who will protect Sunak's billions? 

So let BBC fry, Sunak will not utter a word against Modi . That will keep his Father-in-law happy and rich. After all, Sunak is PM only till next election but he is Narayan Murthy's Son-in-law for life.

Besides every Tory Ex-PM have the option of taking Citizenship of US and settle there. It's Called "Special Relationship"! Even Lib-dem Dy. PM gets that. So BBC, what BBC, let them Fry!

A Poem in poor Hindi

 Modi Adani Bhai Bhai

Modi Adani Bhai Bhai

Ek ne Churayi 

Dusra Chhupayi 

Dono milke khayi Malai 

 

Sabne poocha ,

Kisne churayi aur kiske

Modi bola, "Ek akela 

Chura liya hai, sina thok ke"

Chaddi sena, dhoom machai 

Godi Media ki wah-wayi

Jag mein sabko khud batayi 

Modi Adani Bhai Bhai

Major Fake Science News from India

 "7th Largest Lithium Deposit in World, found in India" : Every Indian News Outlet Reported this Fake News as well as International Ones like Reuters.

I was initially very happy with such a news, but no Media report happened to mention beyond just one line, "The Geological Survey of India (GSI) said that 5.9 million tonnes of lithium reserves have been found in Salal area of Reasi district of Jammu and Kashmir."

 Rest of reporting is wishful thinking like "Electric cars will become Cheaper" or "Electronic equipments will run on cheaper batteries". Indian News is like that these days, "It's more like the milkmaid who was carrying a pot of milk and dreaming of a starting a chicken farm from the money from sale of Milk" .

I mean if the journalists knew the difference between lithium oxide and lithium carbonate ,  they would have been forced by their parents to be Engineer or pursue a career in science .  Most of them don't even know whether Geology is part of Chemistry or Geography or Theology .

Forget the intrinsic chemical and geological details ,  the least they should have done is to provide a link to the GSI publication. It might be useful to remind Indian Journalists that previous Studies of GSI during Salal dam construction (Oh yes, there is a big hydroelectric power plant near Salal in Reasi district of Jammu) said nothing about any huge lithium deposit. 

At least ,  a journalist is supposed to know How many Hydroelectric Power Plant is there in a State before writing false news. If there were such huge Lithium Deposits ,  the Lithium content of Chenab river would have been so high that locals would have complained about Lithium Poisoning . 

Here is a good scientific report on Chenab River water quality published in 2016 , as whenever I write on Scientific issues, I write it citing multiple sources. This report has details of Contamination (whereever they found it) and says water of Chenab is fit for human consumption at Reasi . No mention of Lithium traces are found in the water, where GSI claims that 7th largest deposit of Lithium exist (fake claim to please the master, I know) https://link.springer.com/article/10.1007/s40899-016-0046-7

 GSI website has become Crap under Modi's "Digital India" campaign:

Although India has Ministries like "Ministry Of Earth Sciences", "Ministry Of Science and Technology" ; Geological Survey Of India currently belongs to "Ministry of Mines" and the home page of GSI for some inexplicable reason headlines "Modi's Pariksha pe Charcha" ( a television propaganda Program for examinees in final year of school ) and has no news of Lithium discovery .

 

Although its Publication download page is broken but their Publication Search still works, their old claim of Lithium found in Rajasthan still shows up. 

But no publication about Reasi District Lithium find turns up. Was this a pre-study estimate for request of a larger study at GSI, I have called up my contacts at GSI HQ and they have no idea that who gave this news brief and where. Perhaps Noida based Media doesn't even know,  GSI HQ is at Kolkata and not in New Delhi. 

We do find, GSI was doing Preliminary Study in Jammu and Leh area in 2020-21 for natural resources and another study in incomplete stage in Reasi District. These studies by no means can claim such high Lithium deposits in such a small area. The whole mountain has to be made of lithium, in which case, farming there would have been impossible; but it is quite green a stretch in Summer.

Before based on this fake news, farms and houses are acquired (without Compensation) by Government of India in the false hope of finding Lithium, that would be most unfortunate. Remember that part of Jammu and Kashmir is Hindu majority, so the bigoted hindus jumping that muslim's land would be confiscated by Government, well so would Hindu's and Sikh's property.

Fake News is Bad News, for all, irrespective of caste, colour, language or religion.

Ask Shitty Modi to smell the Adani Shit he shovels

 As Indian Media Leave Their North Korean Counterparts far behind In Bootlicking Supreme Leader,

At least, Ask Shitty Modi to smell the Adani Shit he shovels..

 Modi thinks last 2 days of stock-manipulation by SEBI, LIC and SBI to put 100% increase in Adani Enterprises Stock has changed the game, In fact ,  it has changed nothing ..

Indian Media is hiding the fact that French Oil Major "Total" has put a hold on their Investment In Adani Green Power, that despite making a record Profit elsewhere In the world . 

Today again, Many Adani stocks hit lower circuit breakers. This has become a daily feature ,  Short sellers book profit in the opening,  Modi sends Public Fund entrusted LIC, SBI to up the market price. In this short-selling pressure,  Indian Currency continues to slide.

Fact is not just Adani stocks are vulnerable now, but Indian Banks and LIC, largest life insurance company is also extremely vulnerable . 

Now Adani has Zero credibility among International Investment Communities and will be hard-pressed to meet its foreign loan obligations .  I'm sure Shameless Modi will order back-bone-less RBI to open countries' entire foreign currency reserves For Adani.

One has to be special kind of dumb crony capitalist as Modi-fans are, to cheer meaningless copy of Adani CFO's speech as fine example of "PM Modi's oratory prowess ".

I'm waiting for an Innocent Voice In Indian Media to say, "Emperor Is Naked" .. for he truly is.

Ask Godi Media about Falling Rupee 

While Dollar Index is now down 10% to 103 (from Its recent high of 114), Indian rupee is still at historic low against USD almost touching Rs. 83 for a dollar level .

Compare this to Dollar Index Peak, Indian Rupee is at Rs. 92.50 level. Will this not put strain on India's costly imports? I understand ,  Government will Provide under-the-table concessions to Oil marketing companies ,  but for how long?

As it is, Government of India will spend most money from Its budget on Pre-Election propaganda .. Over and above that, Government Of India have to recapitalise PSU banks to prevent Adani losses coming to surface, sometime in June or July. 

Because how else will Adani get his hands on "Container Corporation Of India" , without accessing LIC and SBI money ? Where will US Dollar be when Modi gift wraps every PSU to Adani? Right now, Indian Rupee is Weaker than Russian Ruble.. That's despite all these Western Sanctions On Russia . 

Does any Indian Journalist even cover ForEx tantrums ? Or are they busy hugging the Cow?

Great Scam of AdaniGate : Even LLP shares are Pledged

 Presenting Adani Tradeline LLP and Adani Trade Services LLP : who kept pledging their Shares and kept getting loans!!!

Now in 2017, Rajesh Adani ( hereafter referred in Dhaniya Seth in this post ) and Bhabik Shah ( to be referred as Mirchi Seth) opened a "Limited Liability Partnership" called Adani Tradeline LLP with only 1 lakh as investor capital . 

Being an LLP, they are only liable to pay this one lakh only. This also means, their shares would not traded like a Limited Company but behave like a private limited company or more aptly "a private partnership firm".

Upto that, it was all legal; But then, this company started taking loans by pledging assets and investors kept pouring loans into it.

Not just 1 loan, but multiple loans .. for 2-3 loans, this company used shares of other Adani group companies' shares.. Rest of them are against LLP's shares. Which stupid investor does that? Wasn't it better to write them a "gift cheque"? Do these "Investors" know what LLP is? Or is IIM, Ahmedabad teaching that "LLP pledged shares are like Gold"? If yes then, they should be renamed to "IIM, Scamedabad" !

 I would blame the creditors for doing these as much I would blame the Dhaniya Seth and Mirchi Seth.

This LLP looks like a getaway vehicle for this stock manipulation scam, as even Deed of LLP is attached to loans to creditors. 

It seems Dhaniya and Mirchi initially named it "Paisa Kente Rail Infra LLP" and now remodeled it to "Adani Tradeline LLP", who are its lenders? This website doesn't say that detail, but they do look like Government owned Banks or Insurance companies. 

Mirchi and Dhaniya's other LLP, Adani Trading Services LLP was also used to Pledge shares and get loans.

Surely, SEBI had seen these prospective frauds bloom right under their eyes. Surely RBI as banker of all banks had a responsibility to inform public and public sector banks that all loans to LLP are risky and accepting "Assets with highly fluctuating value" like shares are of outrageously extreme risk.

 

Entire BSE is trying to Coverup Adani scams

 Is BSE, NSE .. the Indian Stock Markets A Shady Scam?

Take a look at What value Of Adani Enterprises , BSEindia website Is putting up now.

Rs 1320.35, down 15.62%. Looks OK right? WRONG.

Reality is Adani Enterprise stock had hit "Lower Circuit" multiple times today and last time trading was halted, Adani was trading Rs.1017. That information comes from BSE's notification: 

So  the headline price was incorrect.. and it was rigged 30% up from market discovered low of Rs. 1017. How do we know that this stock didn't jump 30% up.. well, such a jump would violate "upper circuit" and that too would have been notified in this list.

After all, face-saving is also an art. Shamelessly putting up high price tags of Adani shares is a Scam.

And now BSE allowing 10, 5, 25 shares to be sold .. well above 1400.

In all probability, its one Adani shell company selling to another via BSE.

And BSE India is guilty of running that scam.  if BSE and NSE are not a larger scam themselves.

AdaniGate: Complete Silence of Indian Media Lambs

 Why Did Adani Withdraw his so called "FULLY SUBSCRIBED" FPO?

If you follow the lamb-driven Stenographer Indian Media, you must have heard "Adani said that is to protect FPO investors, who actually paid double the market Price (Of course, that level is only because of lower circuit.. real value is much lower) in FPO"

Reality Is this Forbes report , which found proof of stock manipulation and fraud in FPO sale also.

 Two more "Modi Toadie Billionaires" got embroiled into infamy in this FPO episode of AdaniGate , Mr. Modi-bhakt Jindal and Mr. Modi-Bhakt S. Mittal. As more clamouring started happening in New York circles as is to who is actually paying for $2.5 Billion share sale.

Subsequently, even Citigroup stopped taking Adani group stocks & bonds as collateral for margin loans.

DID ANY INDIAN JOURNALIST TELL YOU ABOUT THAT, even on YouTube? Slim chances, very very slim.

Even Credit Suisse, who loaned Adani a lot to let him pull the Lafarge Cement deal.. had decided what Citigroup did yesterday. 

Maybe BNP also, although haven't seen a press report about that yet. So Adani has no way to get any new Foreign Bank Loans. Surely Foreign Vessel Shipping Agent's Fees alone can't provide Adani the foreign currency required to run .. ports, airports, power transmission, green power generation etc. 

NO FOREIGN BANK WILL GIVE HIM LOAN 

Period.

HOW MUCH MORE WILL ADANI STOCK FALL?

Some overnight experts are saying "Hindenburgresearch said 85% overvalued, so upto total 85%".

Now if a stock becomes Overvalued because of market conditions or windfall by X%, then that can correct around that percentage.. (For example, Amazon or Zoom share price rise during Pandemic.. or even Moderna in last 2 years)!

But if a stock becomes Overvalued because of fraud and manipulation, then it loses much more than just Over-valuation .. then it loses its goodwill and investor confidence. 

The very young would not remember what happened to Suzlon or for that matter Satyam Computers (which was 4th biggest IT player in India then).

Adani group is heading towards the bottom of a dark, very dark abyss and it will take some its sponsors with it too.

If Former ICICI Bank CEO was arrested for Bad Banking Loans .. Why isn't ED & CBI investigating those CEOs and Chairpersons, who gave Adani "Collateral Free Loans"?

I am no fan of Chanda Kochhar, but few Adani friendly Bankers and Investors do come to my mind, Ms. Arundhuti Bhattacharya & Mr. Rajnish Kumar of SBI and M.R. Kumar of LIC definitely were closer than close. Uday Kotak was also very close to Adani. 

Meanwhile, it has been reported in Indian Media ( which means it could also be untrue ), RBI has asked all domestic banks to declare their exposure to Adani group. 

Now PMO will be very unhappy, if any Bank proved "Zero Exposure To Adani". How dare they not invest or loan to PM's favourite crony. 

On 27th Jan, I heard Indian Regulator "SEBI" had started reading the "Hindenburgresearch report" .. One week has passed by .. I guess they are still reading. Because No Indian Media Lamb has bothered to ask SEBI , "Have you finished reading?"

SEBI's slow reading can only be compared to RBI's counting of demonetised currency notes. Both never ending Saga.

Let Me Tell You A Joke about Budget 23-24

 National Investment Fund, old wine in old bottles.. Just new Drunks have arrived . 

Don't need to be alarmed and salute everyone around because you heard the "National" word here. This is a fund that was created in 2005, under Department Of investment and Public Assets, Finance Ministry of India, to do disinvestment (opposite of what department name suggests).

This masterpiece of ambiguity was a 2016 renaming Masterstroke by M/s Modi Jaitley gang in 2016. Earlier it was Department of Disinvestment only. Nevertheless they have never met their disinvestment targets, which was bloated up every year to make Budget Income look good.

Now there were some objectives given while doing divestment, primary was Government shareholding does not fall below 51%.

 IDBI Bank looks Dumb Media's apple of the eye in this year's Divestment calendar.

I'm sorry to say but IDBI bank's future doesn't look that rosy to me and I do have serious concerns about it's books.

Government hushed up the huge NPA by putting LIC as major shareholder (49.5%) and Government having (45.5%) next biggest chunk of shares .  So only 5% shares is among the public and still the share price can't hold on it's own. Post budget speech announcement of its Government divestment, it fell again.

Perhaps because of its association with LIC and Mr. "Dubious" M.R. Kumar, LIC chairman as it's Chairperson and their relationship with Adani stocks. Actually LIC stocks fell by 8%+, while IDBI bank fallen 3.4%.

 Now Since Government can't use NIF route, if it is not holding more than 51% of shares of Central Public Sector Unit. But lets assume they will change  the rule, how much can the whole sale attract? 

Total Market Cap of this bank is now 543 Billion Indian Rupees, so roughly 250 Billion max is Government's direct asset value. Given that market will again get flooded with share, real value that government is going to get is much less.

As Government must have understood by LIC IPO, where it got much lesser amount than issue price. So how would this divestment target of 510 Billion will be met?

Why Do Indian Journalists behave like they are newbies on Budget day?

 They are going Ga-Ga that "National Investment Fund" will make grand infrastructure.. well, that's what it was created for in 2005.

This is the same fund that was supposed to build smart-cities and bullet trains too.

But this fund was also used for Government Bank and Insurance Companies' recapitalisation. 

This year, Minister has added this fund will invest in Education and Health sector also. Wow, nobody knows when these "Family Silvers" will be sold or how much they will fetch but they have plans to invest in Education & Health, Have they acquired the land for that?

Does they have blueprint of what they are going to build? 

Or will this be "Foundation Stone Laying Ceremonies" only, specially before Election?

Every Budget covering Journalist must know, Current fiscal years' revised target of 500 Billion INR is not being met. About 311 Billion INR has been raised. Just took the screenshot from Government website and figure still stands as same, as it was when I decided write this post.

 This Media, This Government, Those false promises, these budgets .. everything looks so Orwellian now.

Was this the Budget effect or Attack on India, again!

 Oh Finance Minister , what have you done?

As I said earlier , I don't watch TV now .. so I missed the television coverage of Budget .. As it is, they have to say its Masterstroke or lose their jobs.

I was calmly waiting for Budget Pdf to be downloaded, when 1 of 76 browser tabs open started giving noise . 

I glanced and it looked peculiar and so I switched to alphabetically ordered view. Now stock index is still in the green but All Adani shares are massively in red.

Last time this happened, Adani group called it "Attack on India " .. was next year's budget an attack on India too? 🔔 Must be ..

Because Hindenburgresearch people are sleeping nicely in New York, it must be budget right? ROFL

Whatever be the reason, I shall control my temptation and resist viewing any corrupt media tycoon owned coverage which will invariably be full of useless platitudes and praise for ruling dispensation. 

But in other news, Mukesh Ambani must be the richest Asian and Indian now. Let's hope they are still Indian and not Australian like Adani CFO!😛😜

Updated on 14:17 IST 

The screen looks even worse now..

Where are "Chomu" people who bought Adani FPO yesterday? Send them to Abu Dhabi , of course after the checking if they are defaulting on any Bank loan or paid income taxes properly for last 10 years, in those cases confiscate their passports.  But seriously, India will be better off without them.

Looks like this thing.. Lower Circuit, has been hit for most Adani stocks and no one trade them now, for today.

Side-effect: Contagion will now spread to other Banking and Insurance stocks. LIC and PNB took the hit real bad already.