Gautam Adani Group

Gujarat Chief Minister Narendra Modi and Chairman Of Adani Group Gautam Adani at 5th Vibrant Gujarat. Indian tycoon Gautam Adani's business fortune has risen in ...

Adani Enterprises recommended to the Rajasthan power supply firm that it apply for the allocation of the block. Without a new auction — contrary to what the PMO itself had said — it appointed its Adani Group-led joint venture as the MDO for the block. This was despite the ongoing internal review of MDO deals in the country. The officials pointed out that at the time there was just one such case in which the coal-scam-era MDO contract had continued — the Adani Group agreement with Rajasthan’s power generation company to mine the Parsa East & Kente Basan coal block. It did not need to because the Vasundhara Raje-led BJP government in Rajasthan had used yet another technical excuse to give the block to the group. Under the clause in the new coal law that allowed old MDO contracts to be reinstated, the Rajasthan state-owned firm continued its coal-scam-era agreement with its Adani Group-led joint venture. The government had left open a window of discretion in the regulations. Yet again, no one would come to know the price at which the state government gave a mine to a private company. In both these latter cases, one of the joint-venture partners was a firm owned by a BJP-ruled state government. Instead of auctioning them to earn the highest possible revenue, the UPA government allocated coal mines to industries through an opaque and discretionary method, charging a minimal royalty. To date, the company has mined more than 80 million tonnes of coal from the block. Many of the blocks had been illegally allocated to companies owned by state governments, the court found.