Explosive Scandal Unveiled: Rahul Gandhi's Demand Shakes Adani Group Amid Global Media Frenzy!

 OCCRP investigative Report on Adani Group: Rahul Gandhi has taken a strong stance in light of the recent allegations against the Adani Group, as brought to the forefront by the Organised Crime and Corruption Reporting Project (OCCRP). Amid these claims, he has urged Prime Minister Narendra Modi to address the situation transparently.  

Rahul Gandhi statement on OCCRP investigation
Ramesh has questioned why SEBI did not disclose its knowledge of Directorate of Revenue Intelligence investigations against the Adani Group in 2014, which were subsequently closed by the Modi government in 2017. These questions serve to underline the need for a comprehensive and unbiased investigation into the allegations. This follows the release of reports by prominent international newspapers, including the Financial Times and The Guardian, which have extensively covered the OCCRP investigation. The OCCRP alleges that substantial sums of money were funneled into publicly traded Adani Group stocks through complex investment funds located in Mauritius. These funds were purportedly managed by associates linked to the promoter family.

Adani Group's Response and Accusations of Reviving Old Claims

Responding to these allegations, the Adani Group has categorically dismissed them as "recycled allegations." The group has suggested that these claims are aimed at revitalizing the discredited Hindenburg report. Moreover, the Adani Group has implied a connection between these news reports and interests backed by funding from George Soros, asserting that certain sections of the foreign media are involved.

Global Implications and Reputation Concerns Raised

Rahul Gandhi has highlighted the global implications of these allegations, particularly as India prepares to host the upcoming G-20 summit. Waving copies of the aforementioned newspapers, he has expressed concerns about the potential impact on foreign investments in India and the nation's international perception. Gandhi has underscored the fact that these allegations pose a significant threat to India's reputation on the global stage, emphasizing the need for clarification to protect the country's image.

Probing the Allegations and Questions Raised

Delving into the specifics of the allegations, Gandhi has posed pertinent questions about the origin of the substantial funds involved. He has questioned whether these funds belong to Gautam Adani himself or if they originate from an alternative source. Additionally, he has raised concerns about the involvement of foreign nationals Chang Chung-Ling and Nasser Ali Shabhan, who are alleged to be behind the circulation of these funds. Gandhi has further raised doubts about the influence these individuals could have over the valuation of a company that holds a significant stake in India's infrastructure landscape.

Doubts Surrounding SEBI Investigations and Conflict of Interest

Gandhi has cast doubt on the impartiality of the investigations conducted by the Securities and Exchange Board of India (SEBI). He has pointed out that an individual who participated in these investigations now holds a directorship position within an Adani firm. This has led to suspicions about the fairness of the investigation process.

Linking Adani Group to Prime Minister Modi and Call for Transparency

Drawing attention to headlines that associate the Adani group closely with Prime Minister Modi, Gandhi has stressed the importance of the Prime Minister addressing the situation in a transparent manner. He has advocated for the establishment of a Joint Parliamentary Committee to conduct a thorough inquiry into the matter. Gandhi has expressed bewilderment over the Prime Minister's silence and his apparent reluctance to initiate a comprehensive investigation.

OCCRP Allegations and Previous Accusations

The recent allegations presented by OCCRP, which has received financial support from entities such as George Soros and the Rockefeller Brothers Fund, follow prior accusations made by U.S.-based short seller Hindenburg Research. Hindenburg Research previously accused the Adani group of engaging in accounting fraud, manipulating stock prices, and exploiting tax havens.

Congress's Allegations of Money Laundering and Corruption

K.C. Venugopal, a Congress leader, has alleged that an "international money laundering racket" is being run by Prime Minister Modi's close associate. Venugopal has described the Adani Mega Scam as the largest corruption scandal in Indian history. He has criticized the Modi government for allegedly facilitating offshore operations that have negatively impacted regular Indian shareholders.

Call for Joint Parliamentary Committee Probe

Jairam Ramesh, Congress's communication chief, has reiterated the call for a Joint Parliamentary Committee investigation into the allegations. He has also raised questions about the effectiveness of SEBI's inquiries into shell companies linked to the Adani group. Ramesh has emphasized the importance of transparency and accountability in shedding light on the matter.

Contrasting Statements and Alleged Regulatory Breaches

Referencing Prime Minister Modi's past statements about eradicating safe havens for economic offenders, Ramesh has pointed out the apparent contradictions between those statements and the recent allegations. Ramesh has emphasized that the disclosures by OCCRP, the Financial Times, and The Guardian underscore the alleged breaches of Indian securities laws by the Adani Group and its associates. He has highlighted the need for robust regulatory and investigative mechanisms to uphold India's financial integrity.

Fresh Evidence and SEBI's Role

In light of emerging evidence, Ramesh has highlighted connections between Adani associates Nasser Ali Shabhan and Chang Chung-Ling and their alleged attempts to sidestep Indian securities laws related to minimum public shareholding. He has accused certain shell companies, reportedly controlled by these individuals, of accumulating stakes in Adani Group companies through covert and unlawful means.

Questions Over SEBI and Government's Role

 

Ramesh has questioned why SEBI did not disclose its knowledge of Directorate of Revenue Intelligence investigations against the Adani Group in 2014, which were subsequently closed by the Modi government in 2017. These questions serve to underline the need for a comprehensive and unbiased investigation into the allegations.