Himachal This Week, Shimla
No Relief To Adani Group
Himachal This Week, Shimla
Lending money to a company for construction of hydropower project in Himachal has proved costly for Adani. The company has not returned amount to Adani group until now. Adani during the previous BJP government’s tenure was demanding return of his money and the same pressure was maintained on the present government. In between, the government had taken a decision, but the project did not find buyers. As a result the matter got stuck. Now the Cabinet has gone in total denial mode. Notably, about Rs 280 crore amount of India’s renowned company Adani is stuck that it had lend to Brakel company for construction of Jangi-Thopan and Jangi-Powari hydropower project. Brakel company paid this amount as an upfront premium to the state government. But the company failed to establish the project and left its claim on the project. However in such a scenario, Adani group has to ask money from Brakel group, but the company is demanding it from the state government. This claim of Adani company is not correct as per technical aspects and law department has also given its advice to the government in this regard. This matter has been discussed numerous times in the Cabinet in last five years. But the government does not want to enter into any controversy by releasing this amount to Adani group. However neither the previous BJP government released the money nor the present government buckled demand. The matter was discussed in last Cabinet meeting also but no decision was taken.