According to documents made available via RTI, it has been found that Gautam Adani’s Mundra Power was paid 3,900 Crores extra over a period 15.10.2018 till 31.03.2023.
According to a power purchase agreement between Government of Gujarat and Mundra Power, the government was to purchase power calculated after taking the price of imported coal into consideration or the publicly available international price, which ever was lower.
Mundra Power was to provide bills for import of coal to Gujarat Government. Over this period it did not provide any coal bills.
The Power department has now found out that they have paid Mundra Power 13,802 Crores instead of the payable of 9,902, thus paid 3900 Crore extra to Adani.
The power department has now written to Adani to return this excess of 3900 Crores prompted by fear of exposure due to Supreme Court intervention into the sudden fall of Adani Shares and its setting up a SEBI committee to investigate the fall.
This is how blatantly Modi Sarkar has been providing public money to Gautam Adani.
If one was to consider an interest rate of even 6% on this extra money and spread the 3900 Crores over five years, the interest cost / lost on the money would work out to at least 50 Crores every year, leading to a total of 250 Crores in interest cost alone.
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