Was Gautam Adani aware of Narendra Modi’s demonetization scheme?

NEW DELHI: Amid spar between the BJP and the opposition parties over demonetisation, a message stating that Gautam Adani knew about Prime Minister Narendra Modi’s note ban scheme went viral on social media. The message claimed that the industrialist purchased a 'huge chunk of land' worth Rs 15.55 crore a day before Modi announced demonetisation of higher currency notes. "Adani purchased land worth Rs 15.55 crore for a solar plant in Charkhari town of Uttar Pradesh's Mahoba district on November 7. Hence, it's apparent that he had prior information on currency ban," the message alleged. An image, which is said to be a copy of registry of land deals, was also circulated widely on social media with the message. The Fact: The Adani Group did purchase 260 acre land in Charkhari but the process of land deal was initiated in February 2016. Moreover, the Adani group didn't buy the land directly but purchased it from farmers through different companies. "The land was purchased in March and we were paid in full," one of the farmers who sold the land said. The small chunks of land bought by companies were later sold to the Prayatna Developers, a subsidiary of Adani Power. The stamps for this land deals were purchased the afternoon of November 8 and the registry was done on November 16. Conclusion: The farmers were paid well before November and the stamp papers were also purchased before the currency ban announcement. Therefore, in our Virach Sach segment, this viral message proved to be nothing more than a hoax.