Last Update: April 26, 2023, 3:39 pm IST
Congress leader Jairam Ramesh (ANI file photo)
The opposition led by the Congress is demanding a joint parliamentary committee probe following allegations by US-based Hindenburg Research against the Adani group, including fraudulent transactions and share-price manipulation.
After billionaire Gautam Adani’s elder brother reportedly resigned as director of three companies, the Congress on Wednesday said a joint parliamentary committee on the Adani issue is necessary to present the “unvarnished truth” to the people.
Congress General Secretary Jairam Ramesh said that while the Congress awaits the report of the Supreme Court-appointed expert committee on the “Adani Mega Scam”, it noted that its mandate was limited to violations of securities rules and formal orders on various regulatory There is a lack of judicial authority. investigative agencies.
“News reports suggest that Vinod, Gautam Adani’s elder brother, has resigned as director of three companies involved in Adani Group’s Australia port and mining projects,” Ramesh said in a statement.
He alleged, “Vinod Adani has earlier been accused of being involved in ‘shameless stock manipulation’ and ‘accounting fraud’.
Similarly in Australia, Abbott Point Port Holdings controlled by him through shell companies in British Virgin Islands and Cayman Islands helped in offloading billions of dollars of debt of Adani Group through related party transactions aimed at Adani Group. The actual extent of the deficit was to be reduced. from investors,” the Congress leader alleged.
He said two UAE-based shell companies controlled by him also provided opaque funding of USD 3.3 billion to the Carmichael project in Australia, as have similar offshore entities controlled by him with other Adani group firms.
The opposition led by the Congress is demanding a joint parliamentary committee probe following allegations by US-based Hindenburg Research against the Adani group, including fraudulent transactions and share-price manipulation.
The Gautam Adani-led group has dismissed the allegations as false and has said that they comply with all laws and disclosure requirements.
“As we pointed out in our February 16, 2023 Hum Adani Ke Hain Koun (HAHK) questions to Prime Minister Narendra Modi, Vinod Adani related entities in UAE were also found by the Directorate of Revenue Intelligence to be involved in power equipment under- Invoicing scam, under which Rs 5,500 crore was allegedly sent out of India.
“While we await the report of the Supreme Court-appointed expert committee in the Adani mega scam, we note that its mandate is limited to violations of securities regulations and it lacks formal judicial authority over various regulatory and investigative agencies, ” They said.
For example, it will not probe whether Prime Minister Modi allegedly “reprimanded” the State Bank of India (SBI) for lending billions of dollars to the Adani group during a lunch with Gautam Adani and SBI chairperson Arundhati Bhattacharya, Ramesh said. was forced”. Said.
He said the committee would not even probe the exact source of the unaccounted investment of Rs 20,000 crore in the Adani group.
“Therefore, we reiterate the opposition’s demand for a joint parliamentary committee to probe all relevant aspects of the Adani mega scam and present the truth before the people of India,” Ramesh said.
Posting his statement on Twitter, Ramesh urged the Prime Minister to break his ‘silence’ on the issue.
The Congress has also put forward a set of 100 questions to Prime Minister Modi on the Adani issue.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)