In a news conference on Wednesday (18 October), Congress leader Rahul Gandhi slammed the Adani Group, referencing the Financial Times of London story titled "Mysterious coal price rise." Gandhi reiterated his prior claims of a fraud of 20,000 crore rupees, adding, "Rs 12,000 crore more is added to this. The total figure is Rs 32,000 crore. Gautam Adani buys coal in Indonesia and by the time it reaches India, its price doubles." By over-invoicing coal price, he (Gautam Adani) raised electricity price in India. Indian citizens should understand that Adani took Rs 12,000 from their pockets through electricity bills,"
Gandhi said. He addressed the Indian media and questioned why there were no inquiries after this information arose. He asserted that this story about "direct theft by a man who is protected by the Prime Minister of India" might topple the administration. Gandhi emphasized the fact that electricity subsidies were supplied by Congress-led administrations and he urged the PM to weigh in on the situation and take action against Gautam Adani. Gandhi responded to the claim that SEBI lacked relevant records by saying, "This is a matter of protection from the highest level of governance." The Congress leader's allegations came a week after the Adani Group claimed that the Financial Times (FT), a media outlet based in the UK, was engaged in a "malicious campaign" and had been recycling old, unfounded claims in an effort to damage the conglomerate's reputation internationally.
The Adani Group criticized the FT's "extended campaign" to promote hidden interests under the cover of public concern in a lengthy statement. Everyone is aware of the power behind Adani, and the government has his complete protection, the man claimed. The opposition party has also questioned the billionaire Gautam Adani's Group's financial affairs after US research company Hindenburg identified "irregularities" and accused it of manipulating stock prices. The Adani Group asserted there had been no wrongdoing on its behalf and refuted every accusation made in the Hindenburg report. The gang didn't respond right away to the recent accusations.
