Adani Power Acquired Rs.50,000 Cr Power Assets 4 Yrs

Researcher views Only :

December23, 2017 (C) Ravinder Singh progressindia2015@gmail.com

It is scandalous when Assets of Adani Power Mar2017 reported are Rs.41,757 Cr which is aboutRs.20,000 Cr less than Financial Debts over 61,184 Cr – [Long Term Rs.36,650 Cr, Short TermRs.12,580 Cr and Trade Payables Rs.7,254 Cr and others Rs.4,700 Cr]

Only recently Adani offered to sell its Kutchh based Projects to State for Rs.1 only.

How is that Adani Power [Rs.14,949 Cr] acquired BSES-Mumbai Distribution assets for Rs.19,000 Cr when Reliance Energy Market Value just Rs.11,774 Cr [Debt 61,184 Cr].

This HIGH-BRED SCAM – Both Loss Making No Dividend Companies Buying and Selling a Part of Assets for more than Market Cap. BSES-Mum the Standalone Reported [P-16] Rs.4,766 Cr Revenue – Rs.64 Cr PAT.

IMPORTED Coal based power projects of Adani & Tata importing about $2b worth of coal every year – could have funded imports of 4000 MW of Rooftop SolarPV producing 150 BU of Clean Electricity over lifetime.

Just 3-4 years Adani has acquired many Power Assets worth about Rs.50,000 Cr when it was not declaring dividend and is in deep loss. AR 2017 on Page 20/212 >>

Ø Standalone T. Rev of Rs.11,753 Cr, Net Loss is Rs.6,052 Cr, Assets Rs.41,757 Cr

Ø Consolidated T. Rev of Rs.23,202 Cr Net Loss is Rs.6,174 Cr,

NTPC 12.17% Net Profit vs Adani Power 51.49% Net Loss Standalone

Ø NTPC reported Net Profit of Rs.9,385 Cr for Rs.77,071 Cr Revenue.

What is the Justification of Letting a Loss Making Company not reporting Profits and Dividend for many years – take over assets of Reliance Power

Piyush Goyal let both RP and AP refinance their Companies at 4% lower interest rates, Public Invested in National Grid enabling Adani to even sell power generated in Kutchh Gujarat to Bangladesh or Even Myanmar.

2G: CBI bungled in focusing on policy, not criminal intent

New Delhi: The criticism that the CBI faltered on many aspects of the 2G case is not completely incorrect as it seems to have concentrated more on the policy formulation rather than seeking to establish criminality of the accused politicians and corporate bigwigs. The agency arrested DMK leader A Raja, other public servants and corporate honchos in 2011 and filed a charge sheet within three months, and followed it up by defending its evidence in court. But as the trial progressed, CBI didn’t focus enough on proving criminal intent for bribes paid to Raja, former telecom secretary Siddharth Behura and Raja’s private secretary R K Chandolia. “The bank documents, cheques related to transfer of Rs.200 crore from DB Realty Group to Kalaignar TV, which was definitely a bribe, were collected but more documentary evidence that the money was meant for those in government could have been collected,” said a former CBI officer.

Adani Power IPO Scam – Trader’s Rs.326 Cr PAT 2009 to 10,440 MW in 2017

 

https://www.sebi.gov.in/sebi_data/attachdocs/1288348266437.pdf

Gautam Adani a trader – July2009 Offered Rs.1 Share for Rs.100, Dec14 2009 allotted One for One Bonus, Apr2010 offered 1 Share for 16 @ Rs.475.   

Record date of 3rd Stock Market Adani Power in FY2009-10 – its record date was March25, 2010.  P-46.

The Company, on December 14, 2009, has allotted 24,80,15,675 Equity Shares to the Shareholders of the Company, pursuant to a bonus

issue of the Equity Shares in the ratio of one Equity Share for every one Equity Share, approved by the Shareholders in the EGM held on

November 27, 2009.

March12, 2010

ISSUE OF 3,11,26,659 EQUITY SHARES OF RE. 1 EACH (“EQUITY SHARES”) FOR CASH AT A PREMIUM OF RS. 474 PER EQUITY SHARE AGGREGATING TO AN AMOUNT AGGREGATING TO RS. 1,478.52 CRORES BY ADANI ENTERPRISES LIMITED (THE “COMPANY” OR THE “ISSUER”) TO THE EXISTING EQUITY SHAREHOLDERS OF THE COMPANY ON RIGHTS BASIS IN THE RATIO OF ONE EQUITY SHARE FOR EVERY 16 EQUITY SHARES HELD ON THE RECORD DATE I.E. MARCH 25, 2010 (“ISSUE”). THE ISSUE PRICE FOR THE EQUITY SHARES IS 475 TIMES OF THE FACE VALUE OF THE EQUITY SHARES.

 

Adani Power which sets out to establish 4×330 MW Power station [1320 MW] at Mundra in 2009 ends up owing 10,440 MW by 2015 today BUT making huge losses.

 

In Spite of Piyush Goyal helping reduce its Interest Burden, Transmission Investment to Sell Adani Power anywhere in India and Export also – Now RP Singh Helping it acquire BSES-Mum Distribution for Rs.19,000 Cr which reported just Rs.64 Cr Net Profit.

 

Public Get 4% Less Interest On Fixed Deposits with Banks than March2014.  

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS

Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770, 9871056471, 9650421857

Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,

Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects

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