Oscar for Best Stenographer goes to India's Godi Media: ha ha ha..
On 2nd March, Adani Group's Tainted Listed Company "Adani Green Energy Limited" released a fake news for Circulation , The Company Secretary of the Group himself signed this and passed on to NSE and BSE .. who happily issued a "Notification" on this stock, so if you click on them.. you get the PDF .. let me show you the content:
They even gave 3 bullet points as "Editor's take", yeah, even the editors of Indian Media & Press need to be tutored.. Present lot is the "Brain-dead" kind.
I'm sure, CNBCTV18 and ETNow presenters orated and narrated this Dictation from Adani group.
Let see what the Press or Quasi-press or Pseudo-Media or Godi-Media did ..
This is "Business Standard" a well known Business Newspaper in India on March 2 itself:
Copy-Paste Headline... Check
Copy-paste rest of the Press release ... Check
Thankfully, the Stenographer didn't copy paste "The Editor's Take" ..
Not a darn picture of the site of Solar Power Plant, well, that will be difficult you see, as Adani group claimed it's a hybrid power plant .. you have to show Both wind-turbines and solar-panel farms .. bit tough if either don't exist.
Let's see what "Economic Times" of India did .. the perennial "Fake business news peddler" ..
Same, Same, Same Shameful Copy-paste:
Their advertisement positioning is different and fonts are different.. otherwise word-by-word copy and paste.
So you see, they didn't even fact-check:
FACT CHECK by Me:
The production unit is to be Operated under another fully Adani group owned Subsidiary, Adani Hybrid Energy Jaisalmer Four Limited.
This "FOUR" part is important:
Because on the Month of October, 2019..
5 companies were registered at address "Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S G Highway, Khodiyar Ahmedabad Ahmedabad GJ 382421 IN "
What is very Awkward is that.. in same month, 5 Limited but not listed companies were set up by Adani group:
1. Adani Hybrid Energy Jaisalmer One Limited.
2. Adani Hybrid Energy Jaisalmer Two Limited.
3. Adani Hybrid Energy Jaisalmer Three Limited.
4. Adani Hybrid Energy Jaisalmer Four Limited.
5. Adani Hybrid Energy Jaisalmer Five Limited.
All registered with Adani group's Company Secretary's email address and all with a capital of 100,000 rupees (1 lakh) only.
All Directors of these 5 companies are middle level employees of Adani group and in a cluster of 3-4 directors per company.
How do you start a solar or wind power firm with 1 lakh? Well, you can't.. that's why Adani Green Energy created these subsidiaries, "Take loans on the name of Subsidiary ones, Take loans on the name of its parent company then, Take loans on the name of its parent.." .. sooner or later, all auditors are going to forget, that these are all part of the same mesh.
If one or more are fictional power generation companies, Adani will simply tell his political patrons to restructure those debt and pass some of them to its immediate parent or another company and simply strike-off the troublesome company. This fear is not irrational, this has happened in other Adani group companies.
Who would pay from these Adani misadventures/Frauds:
I managed to spot an under-construction site near Jaisalmer on Google Maps ..
He says via Comical Advertising:
Step 1: Quality pays for itself..
Step 2: Quality begins with You (the commoner)
Step 3: Looks like threat of kidnapping, if You (U) don't pay ..
Adani Fans must be elated that I found an Adani office at Google Maps.. well, hold your horses!
This says only 180 MW Adani Solar plant, not 8024 MW .. that too, it's under construction.. Fine, I may agree on Argument-sake, that Google didn't update the map and this 180 MW has been commissioned.. but that still doesn't prove any of lofty claims of "Adani Green" communique.. where are the rest of power plants?
This is Opposition ruled state, Rajasthan.. Would CM Ashok Gehlot clarify? After all, state Government must have given this land to Adani for free?
Do they know, Entire state of Rajasthan in India produced 32.8 Gigawatt of Electricity in last declared financial year, all operators included.
And Adani group had claimed they have commissioned 8 Gigawatt of capacity, that too from solar plant in desert land, in 9 months? What are these youngsters, who invested in Adani Green reading the fake news, learned in universities and MBA schools, how roll weed and smoke it?
There are other Companies' solar plants in Operation near Jaisalmer, like a huge one in a place called Bhopa.. another huge one, near Jodhpur, where the operator is showing huge loss and high debt ..
Is this not misleading the public? By Adani, By Media, By Entire Political Class?
Do read my follow-up post on Adani Green:
ReplyDeleteHindenburg Research proved right by Adani Green Disclosures to Stock Exchanges
https://shuvankarspeak.blogspot.com/2023/03/adani-green-energy-stock-scam-enter-sbi.html