Adani Group is in big trouble. Difficult times are going on for Gautam Adani and his companies after the Hindenburg report on Adani Group. But Hindenburg’s report on Adani has brought relief to around 7,000 truck drivers. This saved him from being unemployed.
Let’s understand how
According to a Reuters report, about 7,000 truck owners and drivers in Himachal Pradesh started demonstrating after Adani’s decision to close two cement plants on December 15. Actually, this fight was about the rent.
What is the whole matter?
Adani Group said that the fare given to the trucks in the plant is not correct and it should be halved. On Monday, the Gautam Adani-led group said it has settled the matter with a 10 to 12 per cent reduction in rates. Due to this there is a wave of happiness among the truck drivers. In the address, the union leader has described it as a victory after late night talks with Adani.
Four weeks before this settlement, US-based Hindenburg Research had accused Adani Group of stock market manipulation and misuse of tax havens.
However, the Adani Group had termed these allegations as baseless. After the report on January 24, there has been a loss of $ 140 billion in the shares of the group. After this, the regulatory investigation also started. Billionaire Gautam Adani has slipped from the third position to number 26 in Forbes’ list of the world’s richest people.
Big win for drivers and truck owners
Where the settlement of truck drivers will only have a minor impact on Adani’s total empire. At the same time, it is a big win for the drivers and truck owners. According to Reuters, their income in Himachal Pradesh is very low and they are able to survive with great difficulty.
According to the report, Ram Krishna Sharma, a representative from the side of the protesting truck drivers, said that the Hindenburg Report played an important role in our fight against India’s largest industrial group and helped the truck drivers to mobilize and gain political support.
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