Serving the notice under Rule 267, Sanjay Singh mentioned that a case of manipulation of shares, financial irregularities, and fraud on a large scale by the 'Adani Group' has come to the fore.
"The Promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top up under the acquisition financing raised last year," says Adani Group-owned ACC and its promoter entity, Ambuja Cements.
The CPI MP said that money belonging to the people of the country is at risk of "being wiped out" due to the crisis currently unfolding with the Adani group.
"After a fully subscribed FPO, yesterday's decision of its withdrawal would have surprised many. But considering the volatility of the market seen yesterday, the board strongly felt that it would not be morally correct to proceed with the FPO," Adani said in his address to investors after
Reliance Industries Chairman Mukesh Ambani overtook Adani Group chairman Gautam Adani to become the richest Indian in the world with his net worth of USD 84.3 billion, according to Forbes real-time tracker of billionaires for 2023.
On Wednesday morning, shares of Adani Enterprises, the flagship firm of the group, fell 3.02 per cent to Rs 2,880.20 apiece on the BSE. In a span of five days, the shares were down 15 per cent.
Adani Green declined 3.82 per cent to Rs 1,177.15 apiece and the shares had fallen about 38 per ce
Calling the handover of Israel's Haifa Port by Israeli Prime Minister Benjamin Netanyahu to the Adani Group Chairman, Gautam Adani as an "element of a long string of future cooperation in the economic field", Israeli Ambassador to India Naor Gilon added it is a symbol of trust between the pe
Business conglomerate Adani Group's chairman Gautam Adani, after taking over one of the largest international seaports of Israel, the Haifa port, said that he would continue investing in Israel, according to Reuters.
At a press conference today, Pawar hit out at the Centre for not issuing any statement on Hindenburg Research's allegations of stock manipulation, money laundering and improper use of tax havens by the Adani Group.