According to the article, the government created an exemption after Prime Minister Narendra Modi’s office determined that a specific legislation turning over coal blocks to the private sector was wrong and lacked transparency. It changed the rules to forbid other businesses while allowing Adani Enterprises Limited to mine from a block containing more than 450 million tonnes of coal in one of India’s densest forest sections.
Source: Deccan Herald
The government failed to provide an explanation for why Gautum Adani’s Adani Group, which was the market leader until recent stock market declines triggered by claims of accounting fraud made by a short-seller located in the US,was granted an exception, reveal the records that The Reporters’ Collective accessed. A rule put in place by the Modi administration in response to a Supreme Court decision from 2014 that annulled the allocations of 204 coal blocks granted Adani the exception.
Source: Bloomberg Television
The Reporters Collective conducted an investigation, the second half of which is shown here. The government of India’s top auditor, the Comptroller and Auditor General, had expressed concerns about business groupings using shell companies and collaborating to control India’s coal reserves in the first section, but the Narendra Modi administration chose to ignore them.
The RP-Sanjiv Goenka (RP-SG) group, a $4 billion revenue conglomerate with holdings in media, retail, IT, education, and power, was permitted by the government to rig the West Bengal coal mining auction.
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