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Adani Group stocks will be in focus on Monday after Gautam Adani , chairman of the energy-to-infrastructure conglomerate, addressed ongoing challenges, including allegations of bribery and fraud involving Adani Green Energy. Speaking at the 51st Gem & Jewellery Awards in Jaipur on Saturday, Adani described the allegations as opportunities to strengthen the group. "Less than two weeks ago, we faced allegations from the US regarding compliance practices.
Every attack makes us stronger, and every obstacle becomes a stepping stone for resilience," Adani said, referring to charges filed by the US Department of Justice and the SEC. Adani emphasized that no one from the group had been charged with violations of the Foreign Corrupt Practices Act (FCPA) or conspiracy to obstruct justice. "We are fully committed to world-class regulatory compliance," he added.
Adani and seven others have been accused of bribery to secure contracts, which the group has denied. Adani framed such challenges as a recurring aspect of the group's journey, citing past instances of resistance and controversy. “The more bold your dreams, the more the world will scrutinise you.
But it is precisely in that scrutiny that you must find the courage to rise, to challenge the status quo, and to build a path where none exists,” he said. Stock Trading Technical Trading Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Commodity Markets Made Easy: Commodity Trading Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Candlesticks Made Easy: Candlestick Pattern Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Advanced Strategies in Stock Market Mastery By - CA Raj K Agrawal, Chartered Accountant View Program Stock Trading Mastering Options Selling: Advanced Strategies for Success By - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader View Program Stock Trading Cryptocurrency Made Easy: Cryptocurrency Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading A2Z of Stock Trading - Online Stock Trading Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Technical Analysis Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Options Trading Made Easy: Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Options Trading Course For Beginners By - Chetan Panchamia, Options Trader View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Adani also provided two other examples of the resistance and challenges he has faced as a businessman. One involved the Carmichael coal mine in Australia, which faced years of protests and delays from local groups between 2010 and 2019.
Detailing how the group financed the entire $10 billion project with its equity, Adani said the resistance was intense and resulted in the loss of $30 billion in debt financing for its other green energy projects. Also Read: Outflow continues in secondary mkt, IPO rush keeps FPIs busy in Nov “We wanted to replace every two tons of poor-quality Indian coal with one ton of high-quality coal from Australia. But the resistance from NGOs was huge and lasted almost a decade.
While we now have a world-class operating mine in Australia, it could be seen as a great sign of our resilience,” he said. The second instance was the 2023 Hindenburg report on the group’s financials, which came just as the group was preparing to launch its Rs 20,000-crore follow-on public issue. “We faced a short-selling attack initiated from abroad.
This was not a typical financial strike; it was a double hit — targeting our financial stability and pulling us into a political controversy,” Adani said. “After successfully raising Rs 20,000 crore, we took the extraordinary decision to return the proceeds. We then further demonstrated our resilience by raising capital from several international sources and proactively reducing our Debt to EBITDA ratio to below 2.
5 times, an unmatched metric in the global infrastructure space,” he added. Adani also stated that following the group’s financial results in FY23, no foreign credit rating agency downgraded the conglomerate. 'Finally, the Supreme Court of India’s affirmation of our actions validated our approach,' he said.
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