London/Dehradun: Chief ministers and officials are working furiously to secure investments as the political landscape in India vibrates with the crescendo of imminent elections. The sacred values of caution and care, the pillars of competent government, have tragically been sacrificed in the frantic quest of foreign capital injection.
The most recent example of this is the formal trip to London that Chief Minister Pushkar Singh Dhami took, which was planned to increase the likelihood of foreign investment. However, this diplomatic effort, which was planned in conjunction with the Indian High Commission in the UK, has brought up important issues.
According to recent press sources, the Uttarakhand chief minister signed MoUs for millions of dollars while he was visiting the United Kingdom. On the third day of his visit, agreements were finalized with Agar Technology, Fira Barcelona, and Ease My Trip.
The Agar Technology deal is one of these agreements that is particularly noteworthy. The state government of Uttarakhand made a massive 2,000 crore commitment to Agar Technology for the construction of lithium battery factories inside its borders. However, a careful examination of the data on the UK Companies House website (https://www.gov.uk/get-information-about-a-company) reveals a puzzling finding.
There appear to be two organizations using the name Agar Technology. The first, known as Agar Tech and having the business number 11554661 registered to it, appears to have struggled continuously with not having enough financial resources to organize an investment of 2,000 crores. The UK Registrar of Companies sent a notice to this firm on August 8th, 2023, alarmingly advising of its impending removal from the company register and dissolution within two months of the issuing of the notice.
The second entity, with the number 11709938, has already started the liquidation process. How can a nation within the purview of India, the fifth-largest economy in the world and a prospective P-5 Member of the United Nations, engage in an endeavor where even the most basic due diligence procedures appear to be disregarded, particularly in a sector as strategically important as Lithium?
While there may be many other theories and hypotheses that might be used to solve this mystery, the public is eager for an official explanation of what is happening. It behooves us to consider whether this tale, too, contains its own unique combination of intrigue and deception, expertly created by the illustrious guardians of Uttarakhand’s future, while the Adani Group’s role in the Mauritius scandal continues to be in the spotlight.