Won’t allow a single brick to be laid for bullet train project: Raj Thackeray

Agencies

September 30, 2017

Mumbai, Sept 30: A day after the tragic Elphinstone Road foot-over bridge collapse, Maharashtra Navnirman Sena (MNS) president Raj Thackeray on Saturday slammed the Centre and threatened that it would not allow a single brick to be laid for bullet train project, the big initiative of prime minister Narendra Modi.

"This Piyush Goyal is good for nothing...just for bullet train," Thackeray told a news conference on the occasion of Dassera. "Suresh Prabhu was changed just for bullet train, he was good," he added.

Slamming the Modi government, Raj said: "We would not allow the (Ahmedabad-Mumbai) bullet train to come up here...till the time the present railway infrastructure (of Mumbai Metropolitan Region) improves."

If Modi wants to run the bullet train, he can run it in Gujarat, said Raj, who was one an admirer of the Gujarat model.

The nephew of late Shiv Sena founder Bal Thackeray also gave an ultimatum to the illegal hawkers in the railway premises. "If they do not move out, we would do in our style," he said, adding that till the time "outsiders" keep on time, such incidents would recur.

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Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network

November 21,2024

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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