Electricity Bill Has A Future!

[POWERZONE]

 

Calls for Northern Australia Infrastructure Facility to rule out loan to Adani after alleged fraud revealed

 

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ADANI once claimed its mega mine in Queensland would lift millions of Indians out of poverty by providing them with cheap electricity but it has now been accused of ripping off citizens through a complex fraud.


The controversial mining giant, which is trying to get a $1 billion taxpayer loan in Australia to help build its giant mine in Queensland’s Galilee Basin, is being investigated in India for allegedly siphoning 15 billion rupee ($298 million).

Details of the alleged fraud are contained in a Directorate of Revenue Intelligence file compiled in 2014 and published in <i>The Guardian</i> today. It sets out how Adani allegedly inflated invoices for an electricity project in India so it could shift huge amounts of money into offshore bank accounts.

If true, this would have reduced taxes Adani paid and would likely have led to higher power prices for Indian consumers.

It’s believed the DRI has passed the allegations on to the Indian agency that investigates financial crimes, the Enforcement Directorate.

But it’s unclear what the status of these investigations are. Adani has said the case is before the Adjudicating Authority.

Last year, six Adani subsidiaries were among 40 other countries being investigated for allegedly inflating the price of coal imports in Indonesia to hide profits in overseas tax havens.

Concern over Adani’s dealings overseas, including illegal dealings, bribery, environmental and social devastation as well as allegations of corruption, fraud and money laundering has already been raised by Environmental Justice Australia in a report released in February.

 

http://www.news.com.au/finance/business/...79b6e7f530

 

Looks like Bill got it right !

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An unnamed director of Adani Mining has reportedly told industry figures the company has secured Chinese funding for the Carmichael mine and rail line.

 

http://www.news.com.au/national/breaking...c658d14738

 

There you go you see ?

 

No need for the Australian taxpayers' money!

 

Let's have an early election