India's Adani Group stocks slip on report US probing alleged Iran sanctions evasion
June 3 (Reuters) - Shares of India's Adani Group firms fell between 1% and 2.5% on Tuesday, a day after the Wall Street Journal reported that U.S. prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.
An Adani spokesperson called the report "baseless and mischievous" in a statement, adding: "We are not aware of any investigation by U.S. authorities on this subject."
Shares in the group's flagship firm Adani Enterprises (ADEL.NS), opens new tab opened 2.2% lower, while Adani Ports (APSE.NS), opens new tab fell 2.5%. Adani Total Gas (ADAG.NS), opens new tab, Adani Power (ADAN.NS), opens new tab, Adani Green (ADNA.NS), opens new tab and Adani Energy Solutions (ADAI.NS), opens new tab were down between 1% and 2%.
India's benchmark Nifty 50 index (.NSEI), opens new tab was down 0.4%, with Adani Enterprises and Adani Ports the top percentage losers.
The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani's Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.
Reuters could not independently verify the report and the U.S. Department of Justice and the U.S. Attorney's Office in Brooklyn did not respond to requests for comment.
Adani Ports has been the top gainer among Adani Group stocks so far this year, up 16%, while Adani Total has been the top loser, down 11%.
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BBC News
44 minutes ago
- BBC News
Assam: 'I was pushed across the border into Bangladesh at gunpoint'
Shona Banu still shudders when she thinks of the past few 58-year-old, a resident of Barpeta district in India's north-eastern state of Assam, says that she was called to the local police station on 25 May and later taken to a point at the border with neighbouring Bangladesh. From there, she says, she and around 13 other people were forced to cross over to Bangladesh. She says she was not told why. But it was a scenario she had been dreading - Ms Banu says she has lived in Assam all her life but for the past few years, she has been desperately trying to prove that she is an Indian citizen and not an "illegal immigrant" from Bangladesh."They pushed me over at gunpoint. I spent two days without food or water in the middle of a field in knee-deep water teeming with mosquitoes and leeches," Ms Banu said, wiping away tears. After those two days in no man's land - between India and Bangladesh - she says she was taken to what appeared to be an old prison on the Bangladeshi two days there, she and a few others - she is not sure if all of them were from the same group sent with her - were escorted by Bangladeshi officials across the border, where Indian officials allegedly met them and sent them not clear why Ms Banu was abruptly sent to Bangladesh and then brought back. But her case is among a spate of recent instances where officials in Assam have rounded up people declared foreigners by tribunals in the past - on suspicion of being "illegal Bangladeshis" - and sent them across the border. The BBC found at least six cases where people said their family members had been picked up, taken to border towns and just "pushed across".Officials from India's Border Security Force, the Assam police and the state government did not respond to questions from the on alleged illegal immigrants from Bangladesh are not new in India - the countries are divided by a 4,096km (2,545 miles) long porous border which can make it relatively easy to cross over, even though many of the sensitive areas are heavily it's still rare, lawyers working on these cases say, for people to be picked up from their homes abruptly and forced into another country without due process. These efforts seem to have intensified over the past few weeks. The Indian government has not officially said how many people were sent across in the latest exercise. But top sources in the Bangladesh administration claim that India "illegally pushed in" more than 1,200 people into the country in May alone, not just from Assam but also other states. Out of this, they said on condition of anonymity, Bangladesh identified 100 people as Indian citizens and sent them a statement, the Border Guard Bangladesh said it had increased patrolling along the border to curb these attempts. India has not commented on these media reports indicate that the recent crackdown includes Rohingya Muslims living in other states too, the situation is particularly tense and complex in Assam, where issues of citizenship and ethnic identity have long dominated politics. The state, which shares a nearly 300km-long border with Muslim-majority Bangladesh, has seen waves of migration from the neighbouring country as people moved in search of opportunities or fled religious has sparked the anxieties of Assamese people, many of whom fear this is bringing in demographic change and taking away resources from Bharatiya Janata Party - in power in Assam and nationally - has repeatedly promised to end the problem of illegal immigration, making the state's National Register of Citizens (NRC) a priority in recent register is a list of people who can prove they came to Assam by 24 March 1971, the day before neighbouring Bangladesh declared independence from Pakistan. The list went through several iterations, with people whose names were missing given chances to prove their Indian citizenship by showing official documents to quasi-judicial forums called Foreigners a chaotic process, the final draft published in 2019 excluded nearly two million residents of Assam - many of them were put in detention camps while others have appealed in higher courts against their exclusion. Ms Banu said her case is pending in the Supreme Court but that authorities still forced her to BBC heard similar stories from at least six others in Assam - all Muslims - who say their family members were sent to Bangladesh around the same time as Ms Banu, despite having necessary documents and living in India for generations. 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He also claimed that people with pending court appeals were not being "troubled".But Abdur Razzaque Bhuyan, a lawyer working on many citizenship cases in Assam, alleged that in many of the recent instances, due process - which would, among other things, require India and Bangladesh to cooperate on the action - was not followed."What is happening is a wilful and deliberate misinterpretation of the court order," he Bhuyan recently filed a petition on behalf of a student organisation seeking the Supreme Court's intervention in stopping what they said was a "forceful and illegal pushback policy" but was asked to first approach the Assam high court. In Morigaon, around 167km from Barpeta, Rita Khatun sat near a table which had a pile of papers on husband Khairul Islam, a 51-year-old school teacher, was in the same group as Ms Banu that was allegedly picked up by authorities.A tribunal had declared him a foreigner in 2016, after which he spent two years in a detention centre before being released. Like Ms Banu, his case is also being heard in the Supreme Court."Every document is proof that my husband is Indian," Ms Khatun said, leafing through what she said was Mr Islam's high school graduation certificate and some land records. "But that wasn't enough to prove his nationality to authorities." She says her husband, his father and grandfather were all born in on 23 May, she says that policemen arrived at their home and took Mr Islam away without any was only a few days later - when a viral video surfaced of a Bangladeshi journalist interviewing Mr Islam in no man's land - that the family learnt where he Ms Banu, Mr Islam has now been sent back to India. While his family confirmed his return, the police told the BBC they had "no information" about his Begum says she is sure her father was declared a foreigner due to a case of mistaken identity - he was also taken on the same night as Mr Islam. "My father's name is Abdul Latif, my grandfather was Abdul Subhan. The notice that came [years ago, from the foreigners' tribunal] said Abdul Latif, son of Shukur Ali. That's not my grandfather, I don't even know him," Ms Begum said, adding that she had all the necessary documents to prove her father's family has now heard that Mr Latif is back in Assam, but he hasn't reached home some of these people are back home now, they fear they might be picked up again abruptly."We are not playthings," Ms Begum said. "These are human beings, you can't toss them around as per your whims."Additional reporting by Aamir Peerzada and Pritam Roy
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The Independent
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