In a significant move, Congress MP Rahul Gandhi has called for a Joint Parliamentary Committee (JPC) investigation into recent allegations against the Adani Group, a major conglomerate in India. Speaking at a press conference in Mumbai, Gandhi raised concerns about the potential impact of these allegations on India's reputation and global perception, especially ahead of the upcoming G20 leaders' meeting. The allegations pertain to the flow of over a billion dollars of money that reportedly left India, circulated through various channels, and returned.
Foreign newspapers have brought these allegations to light, causing ripple effects on investor sentiment and India's global image. Rahul Gandhi pointedly questioned the origin of the money involved, raising concerns about its connection to the Adani Group or other entities. The alleged mastermind behind this financial maneuvering is said to be Vinod Adani, the brother of Gautam Adani, the head of the Adani Group. The investigation also names two other individuals, Nasir Ali Shaban Ahli and Chang Chung Ling, both foreign nationals, who are implicated in the money's round-tripping.
Gandhi further emphasized the role of these foreign individuals in influencing the valuation of a company that holds a significant stake in India's infrastructure. He highlighted the fact that a former SEBI (Securities and Exchange Board of India) investigator, who had previously cleared the Adani Group of any wrongdoing, now holds a directorial position in a media company owned by the same group. This connection raises questions about potential conflicts of interest and impartiality in the investigation process.
The allegations come in the wake of an article by the Organised Crime and Corruption Reporting Project (OCCRP), which detailed the investment of millions of dollars into publicly traded stocks of the Adani Group through opaque Mauritius-based funds. These funds reportedly obscured the involvement of alleged business partners associated with the Adani family.
Gandhi's concerns are further heightened by the timing of the allegations, as they coincide with the upcoming G20 summit. He pointed out that the G20 leaders are likely to inquire about a company linked to a person closely associated with the Prime Minister and why such a company has seemingly received preferential treatment in India's economy.
Addressing Prime Minister Narendra Modi directly, Gandhi questioned the silence on these allegations and the lack of a forceful investigation. He raised concerns about individuals allegedly responsible for the financial irregularities not being held accountable. These issues, according to Gandhi, cast a shadow over the Prime Minister's leadership and could potentially tarnish India's image on the global stage.
In conclusion, the demand for a JPC investigation by Rahul Gandhi underscores the importance of addressing these allegations transparently and thoroughly. As India gears up to host the G20 summit, the need to address any concerns about financial integrity, accountability, and ethical conduct becomes paramount. The outcome of these investigations could have far-reaching implications, not only for the Adani Group but also for India's standing in the international community.
