Tag: Hum Adani ke Hain Kaun

  • JPC only way to comprehensively probe Adani issue: Congress

    By PTI

    NEW DELHI: The Congress Wednesday asserted that the only way to comprehensively investigate the Adani issue is through a Joint Parliamentary Committee (JPC) and claimed that the Supreme Court-appointed expert committee would be a “clean chit” panel for the government.

    Congress general secretary Jairam Ramesh claimed the government wants the demand for JPC to be taken back and in return, it would take back the demand for an apology over Rahul Gandhi’s remarks in the UK.

    He said there was no question of an apology and the demand for JPC is non-negotiable.

    Addressing a press conference as the party’s total questions asked under its ‘Hum Adani Ke Hain Kaun’ initiative reached the 100-mark, Ramesh said the party has previously posed 99 questions to Prime Minister Narendra Modi since February 5 in connection with the Adani issue.

    “We conclude the series with a final question asking whether you will act in national interest using the vast army of investigative agencies at your disposal,” Ramesh said.

    The Supreme Court-appointed Expert Committee appointed on March 2, unfortunately, lacks formal jurisdiction over these agencies, he claimed.

    “You have never hesitated to deploy them against the opposition, civil society and independent businesses. We now appeal to you, with some irony, to use them as they are intended, to investigate the most brazen case of corruption and cronyism the country has witnessed since 1947,” Ramesh alleged.

    “While we pray that the Supreme Court’s Expert Committee produces a fair and thorough investigation of the ‘Adani Scam’, we note that it lacks jurisdiction over the investigative agencies mentioned above and that its scope does not include examining cronyism and your political interference in governance aimed at ‘enriching’ your friends,” he said.

    The answer is clearly a JPC to examine all relevant aspects of this scam, as both Indian National Congress and the Bharatiya Janata Party-led governments have in the past agreed to investigate major cases of stock market manipulation, he asserted.

    READ MORE:

    ‘We want JPC’: Opposition leaders protest in Parliament complex over Adani issue

    Govt not letting Parliament run to avoid Adani issue: Congress chief Kharge

    NEW DELHI: The Congress Wednesday asserted that the only way to comprehensively investigate the Adani issue is through a Joint Parliamentary Committee (JPC) and claimed that the Supreme Court-appointed expert committee would be a “clean chit” panel for the government.

    Congress general secretary Jairam Ramesh claimed the government wants the demand for JPC to be taken back and in return, it would take back the demand for an apology over Rahul Gandhi’s remarks in the UK.

    He said there was no question of an apology and the demand for JPC is non-negotiable.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });

    Addressing a press conference as the party’s total questions asked under its ‘Hum Adani Ke Hain Kaun’ initiative reached the 100-mark, Ramesh said the party has previously posed 99 questions to Prime Minister Narendra Modi since February 5 in connection with the Adani issue.

    “We conclude the series with a final question asking whether you will act in national interest using the vast army of investigative agencies at your disposal,” Ramesh said.

    The Supreme Court-appointed Expert Committee appointed on March 2, unfortunately, lacks formal jurisdiction over these agencies, he claimed.

    “You have never hesitated to deploy them against the opposition, civil society and independent businesses. We now appeal to you, with some irony, to use them as they are intended, to investigate the most brazen case of corruption and cronyism the country has witnessed since 1947,” Ramesh alleged.

    “While we pray that the Supreme Court’s Expert Committee produces a fair and thorough investigation of the ‘Adani Scam’, we note that it lacks jurisdiction over the investigative agencies mentioned above and that its scope does not include examining cronyism and your political interference in governance aimed at ‘enriching’ your friends,” he said.

    The answer is clearly a JPC to examine all relevant aspects of this scam, as both Indian National Congress and the Bharatiya Janata Party-led governments have in the past agreed to investigate major cases of stock market manipulation, he asserted.

    READ MORE:

    ‘We want JPC’: Opposition leaders protest in Parliament complex over Adani issue

    Govt not letting Parliament run to avoid Adani issue: Congress chief Kharge

  • Will agencies probe ‘money laundering’ by Vinod Adani’s offshore shell firms, asks Congress

    By PTI

    NEW DELHI: The Congress on Tuesday alleged that Gautam Adani’s elder brother Vinod Adani has a “central role” in the Adani Group and asked whether India’s “all-powerful agencies” will investigate allegations of “round-tripping and money-laundering” by offshore shell companies connected to their family.

    Posing a set of three questions to Prime Minister Narendra Modi as part of the party’s “Hum Adani ke Hain Kaun” series, Congress general secretary Jairam Ramesh said in its January 29 response to “serious allegations” against Gautam Adani’s elder brother Vinod Adani, the Adani Group had tried to distance itself stating that he does not hold any managerial position in any Adani listed entities or their subsidiaries and has no role in their day-to-day affairs.

    “Yet more and more revelations are coming out about Vinod Adani’s central role in the Adani Group,” Ramesh said, adding that this has led the Congress to also start a sub-series on the allegations against Adani — “Dikh Raha Hai Vinod”.

    प्रधानमंत्री ने कांग्रेस के ख़िलाफ़ जो अपमानजनक बातें कही हैं, उन्हें वह भले ही दोहराते रह सकते हैं, लेकिन अडानी महाघोटाले में अपनी भूमिका पर हमारे सवालों से नहीं बच सकते हैं। ये हैं “HAHK – हम अडानी के हैं कौन श्रृंखला” के 18वें दिन के 3 सवालचुप्पी तोड़िए प्रधानमंत्री जी। pic.twitter.com/WQdyhhOrNm
    — Jairam Ramesh (@Jairam_Ramesh) February 28, 2023
    “The PM (prime minister) can keep recycling all his old abuses against the Congress but he cannot escape getting three pointed questions daily on his role in the Adani Maha Mega Scam,” Ramesh tweeted and posted his questions to the prime minister.

    Recently, Adani Group stocks had taken a beating on the bourses after US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate whose chairman is Gautam Adani.

    The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

    In a statement, Ramesh said the Adani Group had filed various memoranda with stock exchanges stating that the group means “S B Adani Family Trust, Adani Properties Private Limited, Adani Tradeline LLP, Gautam Adani, Rajesh Adani, Vinod S Adani. Now we learn that a March 18, 2020 letter from the Adani Group to the Registrar of Companies in Ahmedabad said that: ‘Mr Vinod S. Adani, Promoter of the Company, has informed change (sic) in significant beneficial interest,” Ramesh alleged in the statement posted on Twitter.

    OPINION | Hindenburg effect on the future of Adani stocks: Part I

    OPINION | Hindenburg effect on future of Adani Businesses: Part II

    This letter was signed by the Adani Enterprises Company secretary and joint president (legal) Jatin Jalundhwala and clearly shows Vinod Adani to be a key player in Adani Group affairs, he claimed.

    “Will this hard evidence finally lead India’s all-powerful agencies to investigative allegations of round-tripping and money laundering by Vinod Adani’s offshore shell companies? Or will you continue to protect your close friend and accept his laughable fig leaf of a defence,” Ramesh asked the prime minister.

    Five investment funds linked to Vinod Adani’s close associate Jayechand Jingree accounted for 11.3 per cent of anchor investor subscriptions in the Rs 20,000-crore Adani Follow-On Public Offer (FPO) that ultimately failed, Ramesh alleged.

    ALSO READ | Will continue to ask questions about Adani till truth is out: Rahul at Congress plenary

    “Like Vinod Adani, Jingree is a former director at the Mauritius-based Adani Global, a subsidiary of Adani Exports that was renamed Adani Enterprises in 2006. He is also reported to have connections with fugitive stockbrokers Ketan Parekh and Dharmesh Doshi,” the Congress leader claimed.

    Like some selected FPO investors, were these funds also illegally forewarned that the FPO would be cancelled and that their investments were being made only to save the Adani Group’s face, Ramesh asked.

    Are these seeming manipulations by related parties not worthy of serious investigation, he asked.

    “A sixth Mauritius-based fund, The Great International Tusker Fund, that invested in the anchor investor round, has directors who are co-directors in other firms with Vinod Adani and Subir Mittra who heads the Adani Family Office.

    There are news reports that SEBI is investigating some of these funds, but we are concerned that they will go the same way as previous investigations into Adani Group wrongdoing have gone i.e.’ nowhere,” Ramesh said.

    Can the prime minister assure Indian investors and citizens that the Securities and Exchange Board of India (SEBI) “will take concrete steps this time rather than engage in a token investigation to cover up for your friends”, he asked.

    Ramesh called on Prime Minister Modi to break his “silence” on the issue.

    NEW DELHI: The Congress on Tuesday alleged that Gautam Adani’s elder brother Vinod Adani has a “central role” in the Adani Group and asked whether India’s “all-powerful agencies” will investigate allegations of “round-tripping and money-laundering” by offshore shell companies connected to their family.

    Posing a set of three questions to Prime Minister Narendra Modi as part of the party’s “Hum Adani ke Hain Kaun” series, Congress general secretary Jairam Ramesh said in its January 29 response to “serious allegations” against Gautam Adani’s elder brother Vinod Adani, the Adani Group had tried to distance itself stating that he does not hold any managerial position in any Adani listed entities or their subsidiaries and has no role in their day-to-day affairs.

    “Yet more and more revelations are coming out about Vinod Adani’s central role in the Adani Group,” Ramesh said, adding that this has led the Congress to also start a sub-series on the allegations against Adani — “Dikh Raha Hai Vinod”.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });

    प्रधानमंत्री ने कांग्रेस के ख़िलाफ़ जो अपमानजनक बातें कही हैं, उन्हें वह भले ही दोहराते रह सकते हैं, लेकिन अडानी महाघोटाले में अपनी भूमिका पर हमारे सवालों से नहीं बच सकते हैं। ये हैं “HAHK – हम अडानी के हैं कौन श्रृंखला” के 18वें दिन के 3 सवाल
    चुप्पी तोड़िए प्रधानमंत्री जी। pic.twitter.com/WQdyhhOrNm
    — Jairam Ramesh (@Jairam_Ramesh) February 28, 2023
    “The PM (prime minister) can keep recycling all his old abuses against the Congress but he cannot escape getting three pointed questions daily on his role in the Adani Maha Mega Scam,” Ramesh tweeted and posted his questions to the prime minister.

    Recently, Adani Group stocks had taken a beating on the bourses after US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate whose chairman is Gautam Adani.

    The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

    In a statement, Ramesh said the Adani Group had filed various memoranda with stock exchanges stating that the group means “S B Adani Family Trust, Adani Properties Private Limited, Adani Tradeline LLP, Gautam Adani, Rajesh Adani, Vinod S Adani. Now we learn that a March 18, 2020 letter from the Adani Group to the Registrar of Companies in Ahmedabad said that: ‘Mr Vinod S. Adani, Promoter of the Company, has informed change (sic) in significant beneficial interest,” Ramesh alleged in the statement posted on Twitter.

    OPINION | Hindenburg effect on the future of Adani stocks: Part I

    OPINION | Hindenburg effect on future of Adani Businesses: Part II

    This letter was signed by the Adani Enterprises Company secretary and joint president (legal) Jatin Jalundhwala and clearly shows Vinod Adani to be a key player in Adani Group affairs, he claimed.

    “Will this hard evidence finally lead India’s all-powerful agencies to investigative allegations of round-tripping and money laundering by Vinod Adani’s offshore shell companies? Or will you continue to protect your close friend and accept his laughable fig leaf of a defence,” Ramesh asked the prime minister.

    Five investment funds linked to Vinod Adani’s close associate Jayechand Jingree accounted for 11.3 per cent of anchor investor subscriptions in the Rs 20,000-crore Adani Follow-On Public Offer (FPO) that ultimately failed, Ramesh alleged.

    ALSO READ | Will continue to ask questions about Adani till truth is out: Rahul at Congress plenary

    “Like Vinod Adani, Jingree is a former director at the Mauritius-based Adani Global, a subsidiary of Adani Exports that was renamed Adani Enterprises in 2006. He is also reported to have connections with fugitive stockbrokers Ketan Parekh and Dharmesh Doshi,” the Congress leader claimed.

    Like some selected FPO investors, were these funds also illegally forewarned that the FPO would be cancelled and that their investments were being made only to save the Adani Group’s face, Ramesh asked.

    Are these seeming manipulations by related parties not worthy of serious investigation, he asked.

    “A sixth Mauritius-based fund, The Great International Tusker Fund, that invested in the anchor investor round, has directors who are co-directors in other firms with Vinod Adani and Subir Mittra who heads the Adani Family Office.

    There are news reports that SEBI is investigating some of these funds, but we are concerned that they will go the same way as previous investigations into Adani Group wrongdoing have gone i.e.’ nowhere,” Ramesh said.

    Can the prime minister assure Indian investors and citizens that the Securities and Exchange Board of India (SEBI) “will take concrete steps this time rather than engage in a token investigation to cover up for your friends”, he asked.

    Ramesh called on Prime Minister Modi to break his “silence” on the issue.