New Delhi, Jan 16 (UNI) The Congress on Thursday said that the closure of Hindenburg Research does not, in any way, mean “a clean chit for Modani”.
The US-based short-seller Hindenburg Research, which targeted Adani Group chief Gautam Adani and made explosive allegations against the conglomerate, has decided to wind up the firm.
In a statement, Congress spokesperson Jairam Ramesh said, “The Hindenburg report of January 2023 proved serious enough to compel the Supreme Court of India to set up an Expert Committee to probe the allegation made in it against the Adani Group whose prime patron is none other than the present Prime Minister of India”.
He claimed that the Hindenburg report covered only one part – securities laws violations.
Ramesh said that out of the 100 questions that the Congress asked on the “Adani MegaScam”, during January-March 2023, only 21 questions related to revelations made in the Hindenburg report.
He said, “The matter goes far deeper. It involves the abuse of Indian foreign policy to enrich the PM’s close friends at the expense of the national interest. It involves the misuse of investigative agencies to force Indian businesspersons to divest critical infrastructure assets and help Adani build monopolies in airports, ports, defence and cement”.
“It involves the capture of once-respected institutions such as SEBI whose discredited chairperson continues in her position despite clear evidence of conflicts of interest and financial links to Adani. It is worth noting that a SEBI investigation that the Supreme Court gave two months to present its report has conveniently dragged on for almost two years with no end in sight, the Senior Congress leader added.
Ramesh said that the US Department of Justice has accused Adani of bribing Indian officials to secure lucrative solar power contracts.
The Congress Spokesperson said, “The Swiss Public Prosecutors Office has frozen several Adani-linked bank accounts operated by Chang Chung-Ling and Nasser Ali Shaban Ahli that are “suspected of engaging in illicit activities, including money laundering and embezzlement’’ , according to a Swiss Federal Criminal Court order. As evidence of criminality has emerged, many countries have cancelled their Adani projects”.
Reiterating his party’s demand for a full investigation by the Joint Parliamentary Committee (JPC), Ramesh in the statement said, “These are all serious acts of blatant favouritism and brazen criminality that can only be fully investigated by the Joint Parliamentary Committee (JPC). Without a JPC, the already-compromised institutions of the Indian state will continue to act only to protect the powerful and the PM’s friends, while India’s poor and middle classes are left to fend for themselves in a deteriorating economic environment”.
Hindenburg Research made big headlines in India when it levelled serious allegations of stock manipulation and fraud against the mighty Adani group. The short-seller also took SEBI Chief Madhabi Puri Buch in the firing line and accused her of holding stake in obscure offshore entities used in alleged Adani money laundering case.
