The Congress slammed at Adani Group chairman Gautam Adani after the billionaire shared an emotional message for investors on Thursday. The Congress party said Adani speaking of being "morally correct" is like his "Prime Mentor" preaching humility, sobriety, and large-heartedness.
Jairam Ramesh, the general secretary in charge of communications for the Congress, wrote on Twitter that Adani's moral correctness claims were similar to those made by his prime mentor, who emphasised the values of humility, sobriety, and big-heartedness.
He said, seemingly making fun of Prime Minister Narendra Modi, "This is entire political science."
The Adani group has allegedly been given preferential treatment by Prime Minister Narendra Modi and his administration in a number of sectors.
A day after deciding not to proceed with the fully subscribed Adani Enterprises Follow-on Public Offer (FPO), the conglomerate chairman stated on Thursday that it would not be "morally correct" to proceed with the Rs. 20,000 crore share in the current market environment.
"Many people would have been astonished by yesterday's decision to remove the FPO after it had been completely subscribed. However, the board firmly believed that moving further with the FPO would not be morally correct in light of the market volatility experienced yesterday "In his speech to investors, Adani added.
The millionaire stated throughout his humble career as an entrepreneur spanning more than four decades, "I count it a blessing to have had resounding support from all parties, especially the investor community. It is crucial for me to acknowledge that whatever I have accomplished in life, however little, has been made possible by their faith and trust in me. All of my achievement is due to them."
"Everything is secondary to my investors' interests, which are my first priority. Therefore, we withdrew the FPO to protect investors from potential losses "he said.
This decision, he said "will not have any impact on our existing operations and future plans. We will continue to focus on timely execution and delivery of projects."
"Our business has solid foundations. Our assets and balance sheet are both strong. Our EBITDA levels and cash flows have been excellent, and we have a perfect history of repaying our debts. Our continued attention will be on creating long-term value, and internal accruals will control expansion "said Adani.
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