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Business News/ Companies / News/  ‘Britain had to colonise India because...’: Adani CFO mocks reports of group's involvement in alleged coal scam
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‘Britain had to colonise India because...’: Adani CFO mocks reports of group's involvement in alleged coal scam

The CFO of Adani Group said that Britain had to colonise India in 1757 AD to stop the formation of the Adani Group, mocking an investigative report by the Financial Times.

Adani Group CFO Jugeshinder Robbie Singh has ridiculed an FT report detailing the conglomerate's role in an alleged coal scam. (Bloomberg)Premium
Adani Group CFO Jugeshinder Robbie Singh has ridiculed an FT report detailing the conglomerate's role in an alleged coal scam. (Bloomberg)

Adani Group's Chief Financial Officer (CFO) Jugeshinder Robbie Singh on Wednesday said “Great Britain colonised India in 1757 AD to stop the formation of the Adani Group", mocking a Financial Times (FT) investigative report that found the ports-to-power conglomerate's involvement in an alleged coal scam.

Also Read: ‘Will investigate…’, Rahul Gandhi on report on Adani's suspected fraud in alleged coal scam

Taking to microblogging platform ‘X’, Singh said, "A major investigative report, on why #GreatBritain had to colonize India in 1757 AD, by FT, BBC et al. Finding of Investigative Report: To stop formation of Adani Group. Now you now everything. (sic)"

The FT report alleged that Adani Group passed off low-quality coal as far more expensive cleaner fuel in transactions with an Indian state power utility. Opposition leaders Rahul Gandhi and Jairam Ramesh took note of the report and said the Congress party will take cognizance of the investigation if the INDIA bloc government comes to power after the Lok Sabha election results on June 4.

Jairam Ramesh said in a statement on May 22 that if the INDIA bloc government wins the Lok Sabha elections 2024, the Congress party will order a probe by a Joint Parliamentary Committee (JPC) into what it calls the ‘Modani’ mega scam.

Gandhi alleged that Adani has “looted thousands of crores by selling low-grade coal at three times the price". “A huge coal scam has come to light under the BJP government. Through this scam that has been going on for years, Modiji's favourite friend Adani has looted thousands of crores of rupees by selling low-grade coal at three times the price, the price of which…," the Wayanad MP wrote on X.

 

“All this will change when the INDIA alliance takes power next month. A JPC will be constituted within a month to investigate the Modani mega scam," Congress leader Jairam Ramesh said in a statement on May 22.

The documents, secured by the Organized Crime and Corruption Reporting Project and reviewed by the Financial Times, suggest that Adani may have fraudulently obtained bumper profits at the expense of air quality, since using low-grade coal for power means burning more of the fuel, said the report published on May 22.

 

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Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 22 May 2024, 10:30 PM IST
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