00:00:00
"...if there was corruption
of billions of rupees,"
00:00:02
"this money came
from your pockets."
00:00:04
"Adani Group and its partners"
00:00:06
"planned to bribe government officials."
00:00:09
"...offered a bribe
of ₹17.50 billion."
00:00:14
"But there was a problem."
00:00:15
"It was written exactly"
00:00:17
"which officer of a state or a
region was offered a bribe,"
00:00:20
"the amount of bribe offered"
00:00:22
"It even mentioned the per
megawatt rate of the bribes."
00:00:25
"US prosecutors are calling Sagar
Adani's notes as 'Bribe Notes.'"
00:00:29
"It wasn't a new allegation or report."
00:00:32
"This time, it was an arrest warrant."
00:00:34
Hello, friends.
00:00:35
20th November, 2024.
00:00:37
It was a big day for businessman
mogul Gautam Adani.
00:00:41
From morning to evening,
he kept receiving good news.
00:00:44
His company had sold
bonds to raise $600 million.
00:00:48
Before this, however, he had to
face one accusation after another.
00:00:51
Alleged coal scam,
00:00:53
alleged land scam,
00:00:54
and the Hindenburg report.
00:00:56
But he somehow
managed to evade all these.
00:01:00
According to a
source close to him,
00:01:01
he played a game of cards with
his wife in the evening to relax,
00:01:05
and then went to sleep.
00:01:09
Then, around 3
AM, he got a news.
00:01:12
The biggest and the most
shocking news of the year for him.
00:01:16
"An arrest warrant has been
issued against Gautam Adani."
00:01:19
"The Adani Energy Group has
been charged in the United States,
00:01:22
over an alleged multi-billion
dollar bribery scam."
00:01:25
This time, it wasn't a new
accusation or new report.
00:01:27
This time, it was
an arrest warrant.
00:01:35
This time, in America,
00:01:36
in a criminal investigation,
00:01:38
the court accused him of corruption and
bribery involving more than ₹20 billion.
00:01:43
He has been
indicted in New York.
00:01:46
An indictment in the US
00:01:47
is equivalent to framing
a chargesheet in India.
00:01:49
You can see the
'chargesheet' against Adani.
00:01:53
What are the accusations here?
00:01:55
What are the new allegations
Adani has to battle now?
00:01:57
And how is it harming you?
00:01:59
How does it affect
an average Indian?
00:02:01
Let's understand this
in depth in this video.
00:02:14
The list of allegations
against Adani is so long,
00:02:17
that there's hardly anyone who
has memorised the entire list.
00:02:20
Look at this news
from 10 years ago.
00:02:22
In Modi's Gujarat, Adani's companies
got land at the cheapest prices.
00:02:26
While companies like the Tata Group
paid more than ₹1,000 per square meter,
00:02:31
Adani got it at merely
₹32 per square meter.
00:02:34
Then, look at this
news from 2015.
00:02:36
CAG report said that due to
wrongful classification of forest land,
00:02:40
Adani's company benefitted
by about ₹580 million.
00:02:44
Then there's this
news from 2021,
00:02:45
the Finance Ministry and
Niti Aayog had raised red flags
00:02:49
before 6 airports
were sold to Adani.
00:02:52
Additionally, there are allegations of
00:02:54
tax evasion by creating
numerous shell companies.
00:02:56
And a major coal scam.
00:02:57
There's also an allegation related
to the port project in Sri Lanka.
00:03:00
All these allegations had been made
way before the Hindenburg report.
00:03:03
What are these
allegations exactly?
00:03:04
How do they translate to losses
to the tune of billions of rupees?
00:03:07
I have talked
about it in this video.
00:03:09
Let's not repeat that.
00:03:11
So let's come straight to
this new case in America,
00:03:13
this began in June 2020.
00:03:16
In June 2020,
00:03:17
Gautam Adani's company
Adani Green Energy
00:03:19
and its partner company
Azure Power Global
00:03:23
got the biggest solar
development contract ever.
00:03:26
Solar Energy Corporation of India
is a PSU, a government company,
00:03:29
run by the Ministry of Renewable
Energy of our government.
00:03:33
It gave this contract
to Adani Green Energy
00:03:35
to supply 8
gigawatts of electricity
00:03:38
and to Azure Power Global to
supply 4 gigawatts of electricity.
00:03:42
Due to this contract,
both companies
00:03:44
were expected to earn billions
of dollars in the coming years.
00:03:47
This was a big deal
for Adani Green Energy
00:03:49
because the total revenue
of this company at that point,
00:03:51
was only around $50 million.
00:03:54
Till then, they hadn't
seen any profits.
00:03:56
This company was led by Gautam
Adani's nephew, Sagar Adani.
00:03:59
But here came a problem.
00:04:02
The problem was
that in the agreement
00:04:03
the energy prices
were very high.
00:04:06
So, no one was willing
to buy power from them.
00:04:07
The thing is, Solar Energy
Corporation of India was an intermediary.
00:04:12
It bought electricity from Adani
and sold it to different states.
00:04:15
State-owned power companies
across India believed that
00:04:17
the solar energy prices
would go down in the future
00:04:20
so they didn't want
to commit to paying
00:04:23
higher prices to Adani
for future transactions.
00:04:26
But if there's no one to buy,
00:04:27
the contract would
have to be cancelled.
00:04:29
Friends, the things
I'm about to tell you,
00:04:32
I am not making it up.
00:04:34
It's written in the indictment
documents of the US prosecutors.
00:04:37
It's written in
this chargesheet.
00:04:39
And I have put a link to this
chargesheet in the description below.
00:04:42
In case you want to verify this.
00:04:45
Apart from that, for
the line-by-line sources,
00:04:47
the link to the resource document
is in the description as always.
00:04:50
According to this indictment,
00:04:52
around 2020, Adani
Group and its partners
00:04:55
planned to bribe
government officials.
00:04:58
It was simple plan.
00:05:00
Bribe the ministers in
charge or their political parties
00:05:03
and in return, get them to sign this
contract of buying electricity from Adani.
00:05:07
So that they buy power
from Adani at higher prices.
00:05:10
There are three major
allegations in this indictment.
00:05:12
First, the alleged bribery.
00:05:13
Second, allegedly
destroying evidence
00:05:15
to obstruct the investigation.
00:05:18
And third, allegedly lying to the
investors and presenting misleading facts
00:05:22
effectively committing
fraud against them.
00:05:25
It mentions that Sagar Adani
and Azure's CEO Ranjit Gupta
00:05:29
discussed the
delays in this project
00:05:31
and talked about it on WhatsApp.
00:05:34
Some exact WhatsApp messages
have been mentioned here.
00:05:36
Like, on 24th November 2020,
00:05:38
Azure's CEO Ranjit
Gupta said that
00:05:40
local power companies
"are being motivated."
00:05:43
To this, Sagar Adani replied,
00:05:45
"Yup... but the optics
are very difficult to cover."
00:05:48
After this, on 25th
February 2021
00:05:50
regarding the J&K
and Chhattisgarh deals,
00:05:53
Sagar Adani
informed Ranjit Gupta
00:05:55
that they had to double the
incentives to get the deals accepted.
00:06:00
The indictment
mentions that in July 2021
00:06:02
in exchange for buying
500 megawatts of power,
00:06:04
Sagar Adani offered bribes to
government officials in Odisha,
00:06:07
a bribe of hundreds
of thousands of dollars.
00:06:09
After this, in August 2021,
00:06:11
Gautam Adani met an official of
the Andhra Pradesh government.
00:06:15
In the meeting, he offered
a bribe of ₹17.50 billion.
00:06:19
In exchange, the official
was told to convince
00:06:21
the Andhra Pradesh government
to to buy power from Adani.
00:06:24
After this, it's mentioned
that by December 2021,
00:06:27
the Andhra Pradesh government
agreed to this contract.
00:06:30
The other states too agreed
to buy power in small quantities.
00:06:35
These states included Odisha,
J&K, Tamil Nadu, and Chhattisgarh.
00:06:38
Odisha had BJD
government back then.
00:06:40
BJP was in power
in Jammu & Kashmir,
00:06:43
Tamil Nadu had DMK government,
00:06:45
and Congress in Chhattisgarh.
00:06:46
The indictment states that in total, bribes
were paid to the tune of ₹20.39 billion.
00:06:52
Another question here is,
00:06:53
were the BJP-ruled
states willing to buy
00:06:56
electricity from Adani
without taking any bribes?
00:07:00
Was a simple phone call
enough to convince them?
00:07:03
On 14th December 2021,
00:07:05
Gautam Adani claimed
that Adani Green Energy
00:07:07
will be one of the biggest renewable
energy companies in the world by 2030.
00:07:11
"We're also aiming to reach
00:07:13
45 gigawatts of renewable energy
00:07:16
by 2030."
00:07:17
Adani Green and Azure's futures
were looking great all of a sudden.
00:07:21
Leading to various speculations
about these contracts in the market.
00:07:26
It was only after this that the US
Securities and Exchange Commission
00:07:29
began investigating it.
00:07:31
In short, it's known as SEC.
00:07:33
On 17th March 2022,
00:07:35
SEC sent a General
Inquiry Letter to Azure,
00:07:38
in it, they asked questions
about the recent contracts
00:07:41
as well as whether
foreign officials had asked
00:07:44
for anything in exchange
for these contracts.
00:07:46
Then, the next month,
00:07:47
as is mentioned in point
#55 of the indictment,
00:07:50
Gautam Adani and Azure
officials have a meeting,
00:07:53
in which they were supposed to discuss
their parts in the 'Bribery Scheme.'
00:07:57
Azure was to pay its share
amounting to ₹6.38 billion.
00:08:00
The simplest way to read and
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00:08:04
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00:08:06
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00:08:11
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00:08:14
You can ask for simplified explanations.
00:08:16
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00:09:35
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00:09:38
And now, let's get
back to the topic.
00:09:40
Specifically, to point
#64 of this indictment.
00:09:42
Azure, instead of paying
their share of the bribes
00:09:45
decided to give Adani a 2.3 gigawatts
contract that was a part of this project.
00:09:50
In internal communications
between Azure officials,
00:09:53
they used codenames
while discussing this.
00:09:56
Gautam Adani was referred to as
SAG, Mr A, Numero Uno or The Big Man.
00:10:03
And Vineet Jaain was known as V,
Snake or Numero Uno Minus One.
00:10:09
Meanwhile, Adani's
companies took billions of dollars
00:10:12
as loans from international
banks and US investors.
00:10:16
Between 2021 and 2024,
00:10:18
in 4 different
fundraising transactions
00:10:20
Adani companies issued
investor documents
00:10:23
in these, they mentioned
that they did not bribe anyone.
00:10:26
Investigation
continued in America.
00:10:28
Then on 17th March, 2023,
00:10:31
Sagar Adani went to America,
00:10:34
and FBI agents seized
his electronic devices.
00:10:38
Sagar Adani was given a copy of the
search warrant and a grand jury subpoena.
00:10:42
You can think of a subpoena
00:10:45
as a summon to present
yourself before the courts.
00:10:48
It mentioned that the US
government was investigating
00:10:51
alleged violations of the US
Foreign Corrupt Practices Act.
00:10:55
18th March, 2023
00:10:56
according to US prosecutors,
00:10:58
Gautam Adani emailed
himself photographs of
00:11:00
every page of this
supeona and search warrant.
00:11:03
It was written exactly
00:11:05
which officer of a state or a
region was offered a bribe,
00:11:08
the amount of bribe offered
00:11:10
and in return, how much
electricity will they buy.
00:11:12
It even mentioned the per
megawatt rate of the bribes.
00:11:16
It mentions how Sagar Adani
kept notes of the bribes paid.
00:11:21
Apart from this, it also
included information
00:11:23
on how the bribe would be distributed among
the government officials of every state.
00:11:27
These notes by Sagar Adani have been
named as 'Bribe Notes' by US prosecutors.
00:11:31
Even after this, on
5th December 2023,
00:11:34
Adani's companies
took loans of $1.36 billion
00:11:38
and lied to investors about
their anti-bribery practices.
00:11:41
Look at point #114
00:11:44
between 2021 and 2024,
00:11:46
the annual reports
of Adani Green
00:11:48
included their
anti-bribery practices.
00:11:52
This was a completely
false and misleading.
00:11:55
This is an article from Bloomberg,
dated 15th March, 2024,
00:11:57
states that the US was
investigating Adani for bribery.
00:12:02
In response, the Adani
Group pretended to not know of
00:12:05
any investigation against
their chairperson Gautam Adani.
00:12:09
Whereas the truth is that they had received
the Grand Jury Subpoena about a year ago.
00:12:13
On 24th October, 2024,
00:12:14
the federal prosecutors
of Brooklyn set up a secret
00:12:18
grand jury against Gautam
Adani and Sagar Adani.
00:12:21
This became public
knowledge about a month later,
00:12:24
on 20th November, 2024.
00:12:26
The entire world
found out about this.
00:12:29
"Indian billionaire Gautam Adani
00:12:31
and 7 other senior executives
00:12:32
are indicted by the Justice Department."
00:12:34
"Accused of large-scale bribery
to secure energy projects."
00:12:39
In total, 8 people have
been charged including
00:12:42
Gautam Adani, Sagar
Adani, and Vineet Jaain.
00:12:45
On 31st October, their arrest warrants
were unsealed by Judge Robert Levy.
00:12:50
Arrest warrants have been issued
00:12:52
against Gautam
Adani and Sagar Adani.
00:12:55
The next step would be for the
US government to send these
00:12:58
arrest warrants to the
Ministry of Home Affairs India.
00:13:01
But this hasn't happened yet.
00:13:03
In response, on 21st November, there
was a media release by the Adani Group
00:13:07
claiming that the allegations
against them are baseless.
00:13:12
They promise to take all legal steps
to prove these allegations wrong.
00:13:16
Now it will be
interesting to see
00:13:18
how the state governments
mentioned in the allegations react to this.
00:13:23
The biggest deal was allegedly
with the Andhra Pradesh government,
00:13:26
whose Chief Minister was
Jagan Mohan Reddy back then.
00:13:30
To these allegations, he says that meeting
Adani wasn't out of the ordinary for him.
00:13:35
And the allegations of
bribery are mere hearsay.
00:13:37
He calls the person
connecting these dots a fool.
00:13:41
In Odisha, Biju Janata
Dal was in power back then,
00:13:43
and they have called these
allegations baseless and incorrect.
00:13:47
While in Chhattisgarh,
Congress was in power
00:13:49
with Bhupesh Bagel as both the
Chief Minister and the Power Minister.
00:13:52
He claims that wasn't
during Congress' tenure.
00:13:56
Coincidently, a few days ago Delhi's former
CM Arvind Kejriwal made this statement.
00:14:01
He said that when he was Delhi's CM, he too
was pressurised to buy power from Adani.
00:14:08
"Today in this House, I
want to make full disclosure,
00:14:13
that when I was the CM,
00:14:16
I was pressured to hand over
Delhi's energy corporations to Adani."
00:14:20
"Had I handed over Delhi's
power companies to Adani,
00:14:24
I want to inform the people of Delhi,
00:14:26
you couldn't even
have affored electricity."
00:14:29
In Tamil Nadu, DMK was in power and
00:14:30
their Electricity Minister,
Senthil Balaji said that
00:14:33
after coming to power in 2021,
00:14:35
and that their government did not
sign any contracts with Adani Group.
00:14:38
These states claim
that they haven't entered
00:14:40
into any direct
agreements with Adani,
00:14:42
rather, their agreements are with
the Central Government's PSU,
00:14:44
Solar Energy Corporation of India.
00:14:47
This doesn't seem like a lie.
00:14:49
Because as you've
seen in the chargesheet,
00:14:50
this PSU was acting as the
intermediary in these deals.
00:14:54
So the question is
00:14:55
what does this PSU have to say?
00:14:57
They say that in this case, they haven't
been accused of taking any bribes.
00:15:01
The state governments
have been accused
00:15:03
and they should take action.
00:15:04
In this matter, Congress leader
Rahul Gandhi has said that
00:15:07
Adani should be
arrested for this,
00:15:09
but it won't happen
00:15:10
because the Prime Minister
of India supports Adani.
00:15:14
In response, BJP said that
00:15:16
the accusations have been made
against the opposition states too.
00:15:20
They also said that opposition governments
have also been accused of taking bribes,
00:15:23
so they should be
the ones at fault.
00:15:25
Here, I'd like to say that instead
of pointing fingers at each other,
00:15:28
why doesn't the government set up a Joint
Parliamentary Committee to investigate?
00:15:33
With some members from the
government and some from the opposition.
00:15:36
But the public needs to know
00:15:39
about what happened
there exactly.
00:15:40
Because, friends the thing is,
00:15:42
if Adani has really paid bribes
to sell power at higher prices,
00:15:47
then every person in these states
would have had to bear the brunt.
00:15:50
All of you living in these states must
have paid a higher price for electricity.
00:15:53
This means that if there was
corruption of billions of rupees,
00:15:56
this money came
from your pockets.
00:15:59
I would like to show you
an interesting comparison.
00:16:02
Which are the states where people
pay the highest price for electricity.
00:16:06
Although this
article is from 2020,
00:16:07
from before this matter began,
00:16:09
but it's interesting to note.
00:16:11
Maharashtra was at #1.
00:16:13
People in Maharashtra
paid the most for electricity.
00:16:16
A tariff of ₹9.76
rupees per unit.
00:16:18
Madhya Pradesh was at #2,
00:16:20
Mumbai's Adani Electricity was the
third most expensive in the country.
00:16:24
Madhya Pradesh's Rural
Consumers were at #4,
00:16:26
followed by West
Bengal, Kolkata, Mumbai,
00:16:28
Bihar, and Tripura.
00:16:30
This was from 4 years ago.
00:16:32
What are the rates you're paying
for electricity in your states now?
00:16:34
Comments below so that
everyone can make a fair comparison
00:16:39
and we can know in which state people
are paying the highest electricity tariffs.
00:16:45
One more question
about this US case is that
00:16:48
the corruption was in India,
00:16:50
bribes were given in India,
00:16:51
Adani is an Indian,
00:16:52
these are Indian
state governments,
00:16:54
so how can the US
government investigate this?
00:16:58
Friends, the simple
reason for this is that
00:17:00
Adani's funding came from foreign investors
for its major infrastructure projects.
00:17:04
When you take funds
from foreign investors,
00:17:06
you need to play by their rules.
00:17:08
Adani's investors
and their partners
00:17:11
were dealing in the New
York Stock Exchange.
00:17:14
And so they fall under
US's legal jurisdiction.
00:17:17
But friends, the truth remains, they
have been accused of such a big scam.
00:17:20
The authority that should have been
at the forefront of this investigation,
00:17:24
should have been
our Indian government.
00:17:26
But unfortunately, they haven't
even reacted to this news.
00:17:30
The Securities and Exchange Board of
India (SEBI) asked the stock exchanges
00:17:34
if Adani Green failed to
properly disclose the investigation
00:17:37
into the bribery allegations
by the US Justice Department.
00:17:41
But apart from this,
there have been no Indian
00:17:44
investigations into
the bribery allegations.
00:17:47
Obviously, the
question arises here
00:17:49
if the government
doesn't investigate this.
00:17:51
Is the government also involved
in this alleged corruption scam?
00:17:55
There were signs
of this last time too.
00:17:57
Last time, when Hindenburg accused Adani
of the biggest fraud in corporate history,
00:18:02
after that, several PILs were
filed in the Supreme Court.
00:18:06
In March 2023, the Supreme Court
set up a 6-member expert committee
00:18:10
they were tasked with
finding out whether there were
00:18:12
any regulatory failures
by SEBI relating to Adani.
00:18:15
The Supreme Court gave
this committee 2 months.
00:18:18
2 months later they were supposed to
handover their report in a sealed cover.
00:18:21
Apart from this, the
Supreme Court directed SEBI
00:18:23
to investigate whether the
Adani group manipulated
00:18:26
their shareholding
or stock prices or not.
00:18:30
SEBI was given
two months for this.
00:18:33
On 19th May, the expert
committee gave its report on SEBI.
00:18:36
It stated that SEBI's
functioning was adequate
00:18:39
but despite its 'best efforts,'
00:18:41
they couldn't find anything
related to the overseas entities
00:18:45
because it couldn't
determine who were the
00:18:48
ultimate owners of the
foreign portfolio investors.
00:18:51
The accusations made by
Hindenburg against Adani
00:18:53
were about its foreign portfolio
investors and shell companies.
00:18:56
When the two months
given to SEBI were over,
00:18:58
they asked for more time.
00:19:00
And that 2 months weren't
enough to investigate this.
00:19:02
"SEBI seeks 15 more days
from the Supreme Court,
00:19:05
to submit its report on the
Adani-Hindenburg matter.
00:19:07
The market regulator said
the probe is now complete."
00:19:09
Months pass by and
the case continues.
00:19:12
SEBI kept getting extensions from
the Supreme Court again and again.
00:19:15
"The Supreme Court
has directed SEBI
00:19:17
to conclude the pending probes
00:19:19
within 3 months."
00:19:20
Finally, on 25th November 2024,
00:19:23
that is, a year
and 9 months later,
00:19:25
there was news that SEBI
has finished its investigation
00:19:28
and will soon
publish its final report.
00:19:31
Look at this report from
the Hindu Business Line.
00:19:33
Related to the minimum shareholding
of Adani Group of companies,
00:19:36
in its investigation, out of
6 Adani listed companies,
00:19:39
in 4 of them, SEBI has found Adani to have
violated the public shareholding norms.
00:19:45
But no action has been
taken in this matter yet.
00:19:48
On 10th August, 2024
00:19:49
Hindenburg made another exposé.
00:19:52
They tweeted
"Something big soon India"
00:19:54
they were planning
something big for India
00:19:57
and a few hours
after this tweet,
00:19:58
they published their report against
SEBI's Chief Madhavi Buch in Adani row.
00:20:03
Madhabi Puri Buch
is SEBI's Chairperson.
00:20:06
This report alleges that
00:20:08
SEBI hasn't taken any
action against Adani
00:20:11
because SEBI's
Chairperson Madhabi Buch
00:20:14
has funds invested
in offshore funds.
00:20:17
And these offshore funds were
used by Gautam Adani's brother
00:20:21
Vinod Adani to manipulate
the share prices of Adani Group.
00:20:26
'Something' isn't wrong here.
00:20:28
It's entirely wrong.
00:20:31
In 2023, the Hinderburg
report mentioned that
00:20:33
Adani Group's promoters were
creating offshore companies abroad
00:20:36
to hold more than
75% of the shares,
00:20:39
which is illegal
according to Indian laws.
00:20:41
According to Hindenburg,
these offshore companies
00:20:44
were run by Gautam
Adani's brother Vinod Adani.
00:20:47
One of these offshore companies was
Global Dynamic Opportunities Fund, GDOF.
00:20:52
Registered in tax haven Bermuda.
00:20:55
A company related to Vinod
Adani had invested in this,
00:20:58
after which, GDOF
invested in IPE-Plus Fund 1.
00:21:02
IPE-Plus Fund 1 is a
company registered in Mauritius,
00:21:05
another tax haven country.
00:21:07
And this money was
invested in IPE-Plus Fund 1,
00:21:09
was routed back into
India's share market.
00:21:12
The Chief Investment Officer of
IPE-Plus Fund 1 was Anil Ahuja.
00:21:15
He had been a director at
Adani Enterprises for 9 years,
00:21:18
Before that, he was a
director at Adani Power.
00:21:21
IPE-Plus Fund 1 is the company
00:21:23
in which Madhabi Buch and her husband
Dhaval Buch had invested their funds.
00:21:26
They opened an account
with the fund on 5th June, 2015.
00:21:30
After that, when Madhabi Buch was
made SEBI's full-time member in April 2017,
00:21:34
only one and a half
months before that,
00:21:37
her husband wrote a letter
to the fund's administrator.
00:21:40
In this letter, he wrote that
00:21:41
moving forward, he would
manage these accounts alone,
00:21:44
and only he should be
considered its operator.
00:21:46
This account statement sent by
GDOF to Madhabi Buch's email
00:21:50
that you can see on the screen,
00:21:52
was shared by Hindenburg.
00:21:54
It mentions that in 2018,
00:21:55
the total value of their
investment in the fund
00:21:57
was around $872,000.
00:22:00
Her husband had informed GDOF
00:22:02
that he would operate
the account alone,
00:22:03
despite this, on
25th February, 2018,
00:22:06
Madhabi Buch used her
personal email to state
00:22:09
that her husband wanted to withdraw
the money they had invested in the fund.
00:22:13
Hindenburg pointed out that there
are thousands of mutual funds in India.
00:22:16
Madhabi Buch could have invested
her money in any mutual fund.
00:22:20
But despite this, coincidently,
00:22:23
she invested her money in an
offshore account linked to Adani.
00:22:28
An offshore fund which
wasn't big but was highly risky.
00:22:32
Which was linked to
numerous scandals.
00:22:35
The expert committee set up by the
Supreme Court to investigate this matter
00:22:38
stated that SEBI
was trying to find out
00:22:42
who were the investors of the
offshore entities related to Adani
00:22:46
but it was reportedly
unsuccessful at doing so.
00:22:48
Hindenburg showed proofs that
00:22:50
SEBI Chief herself was one of the
investors of these offshore entities,
00:22:54
so had she really wanted
to find the investors,
00:22:56
she could have
looked into a mirror.
00:22:58
Hindenburg claimed
that this is why
00:23:00
SEBI did not investigate
the claims against Adani.
00:23:02
Because had there
been a fair investigation,
00:23:05
then SEBI's chairperson herself
would have been implicated in this.
00:23:09
Now you might be wondering about Madhabi
Buch's response to these allegations.
00:23:13
She did not deny
these investments.
00:23:15
She said that she had
invested in the fund in 2015,
00:23:19
when she wasn't
associated with SEBI.
00:23:20
Further, she claimed that
she invested in this fund,
00:23:22
because the Chief
Investment Officer Anil Ahuja
00:23:26
was Dhaval Buch's
childhood friend.
00:23:28
SEBI also stated that
00:23:30
they have sufficient internal mechanisms
to deal with the conflict of interest.
00:23:34
And that Madhabi Buch has
periodically disclosed her holdings,
00:23:38
and has distanced
herself from some matters.
00:23:40
This begs the simple question,
00:23:42
on one hand, SEBI
claims that it cannot find
00:23:45
the investors of
Adani's offshore entities
00:23:48
and on the other hand, Madhabi
Buch is clearly saying that
00:23:51
she had invested in the fund.
00:23:52
So did SEBI know about Madhabi
Buch's investment in this fund?
00:23:56
After I found out about
this matter, I did doubt
00:24:00
that something is
definitely wrong here.
00:24:02
I am surprised at those people
00:24:04
who blindly stand by
and start defending Adani.
00:24:07
Their baseless reasoning
includes that Adani has created jobs,
00:24:10
that because he's an Indian
businessman we should defend him.
00:24:14
And that whoever says
anything against Adani
00:24:16
must be an anti-national.
00:24:17
What kind of nonsensical
arguments are these?
00:24:19
Think about it,
if you're robbed.
00:24:21
And you doubt your neighbour,
00:24:23
so you start gathering evidence.
00:24:25
After working hard, you
collect some evidence
00:24:28
and go straight to
the police to report that
00:24:31
you suspect your
neighbour of robbing you,
00:24:33
so you give the
evidence to the police
00:24:35
and ask them to
investigate this matter.
00:24:38
Now imagine, if the police say
00:24:41
that they will not investigate.
00:24:43
Because your
neighbour is an Indian.
00:24:45
So you shouldn't doubt him
as he can't possibly be the thief.
00:24:48
You try to present your evidence
and ask them to investigate.
00:24:53
But the police
don't listen to you.
00:24:54
There would be no
investigation into this,
00:24:56
but then they turn on you.
00:24:59
How dare you think
of him as a criminal?
00:25:01
They accuse you of being
linked to George Soros.
00:25:03
And call you anti-national.
00:25:05
I mean, how stupid does one
need to be to use this logic?
00:25:08
Despite all the evidence,
00:25:09
if someone says that there shouldn't
be any investigation into Adani,
00:25:13
any sensible person
would reply that
00:25:15
this corruption, if true, is
worth billions of rupees.
00:25:18
Our country and fellow citizens
are suffering because of this.
00:25:21
Regardless of what
happens in America,
00:25:23
the Indian government should
investigate this independently.
00:25:26
And a Joint Parliamentary Committee
should be set up for the investigation.
00:25:30
Because so many people
have a conflict of interest.
00:25:32
Opposition states and
even SEBI Chief are involved.
00:25:35
It has become
difficult to trust any
00:25:37
organisation to conduct
a fair investigation.
00:25:40
It can take several months for
this American case to conclude.
00:25:44
The case might be affected by
American domestic politics too.
00:25:49
US attorney Breon Peace
is prosecuting Adani.
00:25:52
As soon as Donald Trump becomes
the new president in January,
00:25:55
he will be replaced
by Trump's nominee.
00:25:59
Adani knows this too.
00:26:01
Coincidently, when Donald
Trump won the elections,
00:26:04
Gautam Adani congratulated
and praised Trump.
00:26:07
Apart from this, Adani
has committed to invest
00:26:11
$10 billion and create
10,000 jobs in the US.
00:26:15
Look at what
Bloomberg published.
00:26:17
Trump's family members have
visited Adani's home in Ahmedabad.
00:26:20
Regardless of what
happens in America,
00:26:22
other countries have
started taking action.
00:26:25
After Adani's indictment,
00:26:26
the Kenyan government has
cancelled Adani's contract of
00:26:30
constructing power lines and
running Kenya's main airport.
00:26:34
They said that their decision
was based on information
00:26:36
provided by investigative
agencies and partner nations.
00:26:39
Sri Lanka's new government
00:26:41
has also pointed out the
rates at which they are
00:26:43
supposed to buy power
from Adani in the contracts,
00:26:45
are problematic.
00:26:47
And that they will be reviewed.
00:26:50
Bangladesh too has also decided to
hire a reputed legal and investigative firm
00:26:54
to help review Adani's
power generation projects.
00:26:58
Norway's wealth fund
had blacklisted Adani Ports.
00:27:04
The reason was stated to be
00:27:05
"unacceptable risks that
the company is tied to
00:27:08
human rights violations
in war and conflict zones."
00:27:11
It's obvious to see that a fair
investigation is needed here.
00:27:16
I hope this was an
informative video for you.
00:27:18
The link to Master ChatGPT
course is given in the description.
00:27:21
Or you can scan this QR code.
00:27:23
Use the coupon code US45
00:27:25
And you can click here to know about
the other scam allegations against Adani.
00:27:29
Things discussed in this
video might shock you.
00:27:33
Click here to watch it.
00:27:35
Thank you very much!
