May 22, 2024

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Congress reiterates need for JPC to probe allegations in the direction of Adani group

3 min read

By PTI

NEW DELHI: The Congress on Monday alleged that the Supreme Court-appointed skilled committee and the SEBI have “hit walls” whereas investigating the Adani group’s transactions and burdened the need for a joint parliamentary committee probe to unravel the fact inside the matter.

The Congress’ assertion comes after a report by the Supreme Court-appointed skilled committee talked about it has found no proof of stock price manipulation in Adani group firms, whereas a separate SEBI probe into alleged violation in money flows from offshore entities has “drawn a blank.”

Taking to Twitter, Congress primary secretary Jairam Ramesh tagged a media report which claimed that the Registrar of Companies (Gujarat), in a ruling earlier this month, has held that Adani Power and its officers had violated provisions of the Companies Act, 2013, by not reporting related-party contracts and transactions inside the register of contract.

“As the Modani brigade desperately tries to spin the Supreme Court Expert Committee’s report as a ‘clean chit’ (it isn’t), more evidence emerges that Adani has engaged in multiple related-party transactions aimed at duping minority shareholders and unfairly enriching the promoters,” Ramesh talked about.

“The Registrar of Companies in Gujarat recently ruled that Adani Power had violated the Companies Act, 2013, by hiding related-party contracts and transactions. It imposed penalties on Gautam Adani, Rajesh Adani and Vineet Jain,” he talked about.

Meanwhile, the Supreme Court Committee and even SEBI have “hit walls” when investigating the Adani group’s transactions, Ramesh claimed.

“This is why we need a JPC to unravel the Modani MegaScam,” he talked about.

The Congress has been demanding a Joint Parliamentary Committee (JPC) probe into the allegations in the direction of the Adani Group. The Adani Group has dismissed the allegations as baseless.

NEW DELHI: The Congress on Monday alleged that the Supreme Court-appointed skilled committee and the SEBI have “hit walls” whereas investigating the Adani group’s transactions and burdened the need for a joint parliamentary committee probe to unravel the fact inside the matter.

The Congress’ assertion comes after a report by the Supreme Court-appointed skilled committee talked about it has found no proof of stock price manipulation in Adani group firms, whereas a separate SEBI probe into alleged violation in money flows from offshore entities has “drawn a blank.”

Taking to Twitter, Congress primary secretary Jairam Ramesh tagged a media report which claimed that the Registrar of Companies (Gujarat), in a ruling earlier this month, has held that Adani Power and its officers had violated provisions of the Companies Act, 2013, by not reporting related-party contracts and transactions inside the register of contract.googletag.cmd.push(carry out() googletag.present(‘div-gpt-ad-8052921-2’); );

“As the Modani brigade desperately tries to spin the Supreme Court Expert Committee’s report as a ‘clean chit’ (it isn’t), more evidence emerges that Adani has engaged in multiple related-party transactions aimed at duping minority shareholders and unfairly enriching the promoters,” Ramesh talked about.

“The Registrar of Companies in Gujarat recently ruled that Adani Power had violated the Companies Act, 2013, by hiding related-party contracts and transactions. It imposed penalties on Gautam Adani, Rajesh Adani and Vineet Jain,” he talked about.

Meanwhile, the Supreme Court Committee and even SEBI have “hit walls” when investigating the Adani group’s transactions, Ramesh claimed.

“This is why we need a JPC to unravel the Modani MegaScam,” he talked about.

The Congress has been demanding a Joint Parliamentary Committee (JPC) probe into the allegations in the direction of the Adani Group. The Adani Group has dismissed the allegations as baseless.

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