The Pickering Post
Wednesday, 12th December 2018

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Paul Zanetti

Paul Zanetti is a Walkley award winning syndicated cartoonist with over 30 years in the media. He blogs at www.zanettisview.com

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How Adani Siphoned Off Rs 14938472484 From India To Tax Havens
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Exclusive: Allegations by Indian customs of huge sums being siphoned off to tax havens from projects are contained in legal documents but denied by company. Details of the alleged 15bn rupee (US$235m) fraud are contained in an Indian customs intelligence notice obtained by the Guardian, excerpts of which are published for the first time here.
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By Michael Safi
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This is a follow up article of the investigations carried out three years ago by Paranjoy Guha Thakurta published by Economic and Political Weekly titled Power Tariff Scam Gets Bigger at Rs 50,000 crore. In July this year after intimidation by Adani’s lawyers for his reporting of Adani’s many scams, Paranjoy resigned from EPW. A detailed report called the #AdaniFiles that summarizes the mining giant Adani’s track record, based on publicly available evidence and research into hundreds of court documents can be read here –
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#AdaniFiles – Short History Of An Allegedly Dangerous & Criminal Organization. Read our follow-up story on the issue here – Inside The Secret Network Trying To Sabotage India’s Coal Industry.
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https://www.theguardian.com/world/2017/aug/16/adani-mining-giant-faces-financial-claims-as-it-bids-for-australian-coal-loan
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This article titled “Adani mining giant faces financial fraud claims as it bids for Australian coal loan” was written by Michael Safi in Delhi, for theguardian.com on Tuesday 15th August 2017 22.57 UTC
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A global mining giant seeking public funds to develop one of the world’s largest coal mines in Australia has been accused of fraudulently siphoning hundreds of millions of dollars of borrowed money into overseas tax havens.
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Indian conglomerate the Adani Group is expecting a legal decision in the “near future” in connection with allegations it inflated invoices for an electricity project in India to shift huge sums of money into offshore bank accounts.
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Related: Why Adani’s planned Carmichael coalmine matters to Australia – and the world
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Read on -
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http://gginews.in/how-adani-scam-siphoned-off-rs-14938472484-from-india-to-tax-havens/
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http://www.abc.net.au/news/2017-10-07/adani-protest-malcolm-turnbull-mask/9026350

#AdaniFiles - How India’s Biggest Corporation Is Silencing Criticism
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One of India’s biggest corporate houses has threatened a journal with an expensive lawsuit for publishing articles critical to their business, following which the editor of the journal has already resigned and the articles taken down.
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As reported by The Wire, “Last month, Adani Power Ltd. sent a letter via its lawyers to Economic & Political Weekly (EPW), the article’s four authors (including editor Paranjoy Guha Thakurta) and Sameeksha Trust, which owns and runs the journal. The lawyer’s letter demanded that immediate steps be taken to “remove/delete and unconditionally retract” two articles – ‘Did the Adani Group Evade Rs 1,000 Crore in Taxes?’ (January 14, 2017) and ‘Modi Government’s Rs 500-Crore Bonanza to the Adani Group’ (June 24, 2017) – that they said were defamatory and harmful to the reputation of their client.”
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Following this the Sameeksha Trust board met in Delhi ordering their editorial department to take down the two articles. Soon after, Thakurta resigned.
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Read full article here –
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http://gginews.in/how-indias-biggest-corporate-houses-are-using-expensive-lawsuits-to-silence-criticism/
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There are massive discrepancies between what Adani says in India and what it says in Australia about the ownership structure of Abbot Point. But one thing is clear — Adani is lying to someone.
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Accounts lodged in India have removed Abbot Point from a publicly listed Adani company and attributed ownership of the coal port to a private Singapore company, ultimately owned by an Adani family entity in the Cayman Islands. However, Australian financial accounts suggest the listed Indian company retains ownership of Abbot Point.
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The absence of correct information about the ownership of Abbot Point may amount to misleading or deceptive conduct.
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Dodgy financial statements
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Adani’s most recent financial report lodged with ASIC did not disclose its immediate parent company and provided no detail about the actual or potential transfer of the ownership or control of Abbot Point from an Indian based Adani entity to one based in Singapore (also a known tax haven).
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http://greatgameindia.com/adanifiles-short-history-corruption-destruction-criminal-activity/
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http://gginews.in/how-indias-biggest-corporate-houses-are-using-expensive-lawsuits-to-silence-criticism/

ADANI COAL
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“Half Australia’s coal reserves will be controlled by whoever owns that railway line. It was not good enough for the ALP and LNP to sell our coal seam gas, now worth $25b a year. This is enough money to restore our outpatients at our hospitals, and give every pensioner and young families 10 grand each and every year.
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“We sold the gas for 6 cents a unit we are now buying it back for $16 a unit – our own Australian gas. And now we are going to do the same thing with coal.
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“Does anyone think a spineless Government in Canberra are going to stand up to the Chinese Government when they take over all of our unexploited coal reserves? The Greenies think they will stand up to that? Do they think the spineless ALP Government will stand up against the Chinese Government? No, they won’t..............."
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22 November 2017: Bob Katter MP, Federal Member for Kennedy, is furious former Deputy Prime Minister Barnaby Joyce took part in selling Adani to China after news the Adani Group is close to securing finance for its coal mine and railway track in coming weeks with Chinese state-owned enterprises, banks, and export credit agencies backing the venture.
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Media reports a director of Adani Mining said just days ago they would no longer need funding from Northern Australia Infrastructure Facility (NAIF) and a formal announcement of a financial close was imminent. It was reported in The Australian on Nov 14th Former Deputy Prime Minister Barnaby Joyce and Trade Minister Steven Ciobo wrote to top Chinese officials to vouch for Indian giant Adani. The report said they sent a letter to the chairman of China’s powerful National Development and Reform Commission saying they welcomed “foreign lending to support the development of major projects in Australia”.
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“If you sell your country out, then you’re a traitor,” Mr Katter said.
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https://cairnsnews.org/2017/11/22/barnaby-joyce-and-steven-ciobo-get-chinese-government-funds-for-indias-adani-coal-mine/
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"Adani's lobbyists resigned recently after a job well done.
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Key points:
•Lobbyists made 33 contacts with Queensland politicians or their staff for Adani
•60 per cent of meetings the Queensland Premier held with lobbyists were for Adani
•Adani lobbyist played key role in Labor's Qld election campaign
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Headed by Cameron Milner, a former Queensland ALP state secretary, the lobbying firm Next Level had helped Adani get pretty much everything it wanted — through an extraordinarily intense campaign."
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http://www.abc.net.au/news/2017-11-23/the-labor-insider-who-lobbied-for-adani/9181648

Love it Paul, nailed it..!! The hypocrisy of Labor exporting coal to fuel foreign power stations while demonising local coal-fired power is beyond astonishing. The big lie and yet the vast majority in the community still don't see the insanity of Labor/Green policy objectives.

And no re-gifting!

Big lips on Palletchook are from sucking up to the CFMEU.

Haha Santa wins again. Lovely thanks Paul.

Does it look like that Coon Mundine through the fight to pay for his 4 Muslim wives ?

Pluckachook's mob are really having a hard time facing reality - Global Warming propaganda threats are being blatantly ignored by China and India as it is bullshit!

Ha ha classic, great work Paul.

Someone said coal consumption was in decline, however last year world coal consumption grew 3 percent. Only in Australia is coal consumption likely to decline( along with our economy) as we head for 200% renewables. Worldwide coal energy is 38% of the total, the same ad it was in 1998!

Palachook's Labor government donates $125 000 for the bush fire appeal and expects us to put our hands in our pockets to fill her coffers; this coming from a government that rakes in $100 million per week in mining royalties ?

Latest on the Adani start up (In Replies).

Epitome of a RED JENNIE .

Good one, Paul.

Hypocrite Palletshed wilth her 2 faces. The one she shows to the Greens that "hates coal" and the one she shows to her Treasurer that "loves the royalties" that allow her stupid Government to waste on useless projects like the alternative energy black pit and her boss Tragic's Cross River Rail.

She's out in the coal.

black gold

All could be so much better if the voting system wasn't gamed each and every time.

And how many years don't Adani pay royalties,was it 10?? sold out again by FEMALE Labor