Adani Controversy: Amid a series of allegations, the Congress on Friday claimed that the Indian Oil Corporation (IOC) is importing LPG using the Adani-owned Gangavaram Port instead of the government-run Visakhapatnam Port to award it an “adverse” contract. Could Business Tycoon.
Interestingly, a day earlier IOC had clarified its initial agreement to hire Adani Group’s port for LPG imports in addition to existing agreements with nearby ports, saying there was no take-or-pay agreement. Is.
Taking to the microblogging site, IOC, in response to the stench of scam in hiring of port facility without tender by TMC leader Mahua Moitra, rebutted Adani Ports and Special Economic Zone Ltd’s earnings call presentation which said : “MoU signed with IOCL for take-or-pay contract at Gangavaram port for construction of LPG handling facilities”.
Congress raised questions on the role of PM Modi
Meanwhile, Congress general secretary Jairam Ramesh said he had earlier questioned Prime Minister Narendra Modi’s role in facilitating Adani group’s “monopoly” in the port sector and Friday’s questions were a follow-up and IOC to use LPG facilities related to the agreement. Gangavaram Port.
“It is now widely known that you (PM) have used all means at your disposal to help Adani (group) expand its ports business, whether by giving port concessions in the absence of bids or Conduct Income Tax raids on groups to encourage them to sell their valuable assets to Adani,” Ramesh alleged in his statement.
“PM deliberately undermining PSUs”
He asked the prime minister why he was “deliberately undermining” the public sector, which his government was meant to run on behalf of the citizens of India.
“Your government had earlier blocked the 2021 bid by the Jawaharlal Nehru Port Trust for the Dighi Port in Maharashtra, which ended up in the hands of Adani. The Congress leader alleged that the neighboring Gangavaram port was being used and that too through an unfavorable ‘take-or-pay’ contract.
Ramesh asked Modi, “Do you see India’s public sector only as a tool to enrich your friends.”
He pointed out that IOC has clarified that it has only signed a non-binding MoU with Adani Ports and there is no binding agreement to take or pay “as of now”.
“Did Adani Ports inadvertently reveal the Games before they were finalised? Doesn’t the signing of an MoU clearly indicate the direction in which the IOC is being pushed? instead of one of the primary ports being made for import of LPG, as stated by the IOC,” he asked.
Congress also expressed concern over LIC
Ramesh said state-run Life Insurance Corporation (LIC) is a major shareholder in IOC with an 8.3 per cent stake worth Rs 9,400 crore, and also a major shareholder in Adani Ports and SEZ with a 9.1 per cent stake worth Rs 1,130 crore. ,
He asked, “Where is the due diligence by the government shareholders? Who is looking out for the interests of the shareholders of the IOC?”
The Congress has been demanding a Joint Parliamentary Committee (JPC) probe into allegations against the Adani group by US-based short-seller Hindenburg Research.
A Hindenburg report leveled allegations of financial irregularities and stock manipulation against Adani group companies. Adani Group has termed the allegations as baseless.
(With inputs from PTI)
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