Adani Green Energy Stock Scam : Enter The SBI Capital Trustees

Hindenburg Research proved Right by Adani disclosures, conclusively 

AND

Adani Group pledging shares of Adani Green Energy Limited to SBI.

Third Grade " Economic Times" and their TV channel ET-Now as well as CNBC-TV18 (Ambani Owned) and extremely Sub-standard "Business Standard" has been Tom-tomming a propaganda that Adani Group has been "meeting the investors" in Hong Kong and Singapore and getting huge response . 

But except Fly-by-the-night GQG Partners LLC of US tax haven state of Delaware .. We haven't heard a pip-squeak. 

This Propaganda was so powerful that many Modi critic good journalists who has been ostracized by Modi-fan boy Media Barons(often termed as Godi Media in India, colloquially ) even mentioned that in their YouTube Podcast . Interestingly You are likely to get more credible information from these YouTube Videos rather than watching Godi Media . 

What Economic Times and Business Standard and others failed to report or deliberately suppressed is the Following :

On 3rd March, 2023 .. Adani Group Had to file a disclosure to the stock exchanges Of India (BSE and NSE) and SEBI that The promoters will put a substantial amount of Adani Green Energy Limited (AGEL) shares in open market but only for "Block sale".

 

This is the annexure of the Adani disclosure, but this is particularly revealing because it gives the break up of which entity or individual or family trust sold the shares on 2nd March .

This also proves that Adani Group follows a practice of "Stock Parking" that Hindenburg Research has accused it of .  Surely last 3 in that list are not "Adani Family Members (like Uncles, Aunts, Cousins). Let me zoom it for you:

Infinite Trade and Investment Limited 

Gelt Berry Trade and Investment Limited

Spitze Trade and Investment Limited

Are these Indian Companies? No.. Which means they won't pay a single Rupee in Capital Gains Tax or Corporate Tax or Income Tax in India.  When Hindenburg research comes knocking, even Adani group's Australian passport holder CFO hides behind Indian National Flag and BJP trolls and Godi Media... when it comes to paying tax, "We are promoters but from Mauritius" attitude.

 last one Spitze Trade and Investment is not.. it's in Mauritius. 

We do find Infinite Trade and Investment Limited in Mauritius corporate registry.. 

Hindenburg research did found out that Amicorp and these companies do have a Vinod Adani connection. At least Infinite Trade and Investment does.

2nd Company, Gelt Berry Trade and Investment limited.. is a Nonexistent entity.  How SEBI, NSE, BSE is ok with that being part of promoter of Adani group, is a Mystery. We can't find it in any country's corporate registry, not even in Opencorporate.com

Did Adani open this company on Mars or Moon?

Is Adani Group unaware of the spelling of its Mauritius company? It was a shell company meant for parking stocks, after all:

We find Gelt Bery Trade and Investment Limited, again in Mauritius.. in that case, Adani can't even spell its fully owned subsidiary aka Shell company name.

Still its OK with SEBI, the regulator.. and National Stock Exchange and Bombay Stock Exchange.. who dare not write a clarification to Adani group for the fear of ruling BJP and its Trolling Law Enforcement agencies. "It's their shell company, they can write Gelt Berry, Gelt Bery, Geeeelt Berrry .. what's in it for you?" attitude. 

All three companies share the communication address in Mauritius registry as Vinod Adani's Amicorp. 

Mauritius, Ebene, 6th Floor, Tower 1, Nexteracom Building,

These disclosure proves all Adani brothers are very much in the promoter group. All is well in their family life, they merely create 1000s are companies in Tax havens to cheat the country where they earn profit or take people's money from Banks and Insurance companies... with no intention to pay it back.

On March 8th, Adani Green Energy Limited came up with another disclosure: Enter SBI Capital.

 Any company who had just received "Great Response" from investors in Banking cities like Singapore and Hong Kong ... and just sold a great number of promoter shares of the company.. would they go pledging shares to State Bank of India's (SBI) Investment arm (SBICAP) to get fresh loans? 

Common sense says, they should not go pledging shares now and adding up debt as they are highly leveraged companies already. 

But they did and SBI where Modi Government holds Majority and recruits top executives directly immediately consented. Knowing that they might not be able to pay back and no International bank now accepts "Adani group shares as collateral". This means if Adani defaults this one, taxpayers have to bail out SBI again, its called Bank Recapitalisation by fraud Economists and corrupt Indian Media .

Only kind of Bank Recapitalisation that can be supported is by trading shares of the bank.. and not by Handout. But how can Government sell it's shares to itself. 

When it comes to taking dubious investment decisions in favour of Ruling parties "Oligarchs" ... these banks are independent private entities 

When it comes to Bailing out time, these banks cry .. people's savings are with us, entire system would collapse. 

Did Government of the day consult the poor Indians, the villagers, the students and the pensioners... before appointing these Directors in SBICAP Trustee Company Limited?

 

SBI has many Investment companies is the same office.. some listed and some fully owned by SBI. But whichever units wilfully makes bad investment,the liabilities,  they all come back to SBI.

Adani Green Energy has not been the only beneficiary of SBI's generosity this week.

The promoters of Adani Transmission and Adani Green Energy have pledged equity of 0.76 percent and 0.99 percent in favour of SBICAP Trustee Company.

 

By some amazing magic, these dubious companies are opening about 5% up every trading day  and no retail trade in these Adani stocks actually takes place entire trading day. See last 5 days trading pattern.

Meaning perhaps all shares are either pledged or help by promoter in India or in shell companies. These stocks are not exposed to derivatives where it can be shorted, that the price discovery mechanism of "BULL" shit SEBI.. No wonder, when result declaration time comes .. the home shopping network of shares "CNBC-TV18 and ETnow and Business Today" never really likes it.

Indian Media would have fallen silent, if Copy-paste weren't invented

 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?

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?