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The Congress will protest across the country demanding an inquiry against the Adani Group. Congress Party General Secretary KC Venugopal said that agitation will be held in front of LIC and SBI offices in districts across the country. Accusing the government, he said that the central government is using common people’s money to help its close friends, which the Congress party opposes. The Congress has demanded a parliamentary panel (JPC) or a Supreme Court committee to investigate the financial transactions of the Adani Group.
Kharge questioned the silence of the government
Congress MPs will protest near the Gandhi statue in Parliament House today. MPs say that the government is not allowing this issue to be discussed in Parliament. After heavy uproar, the proceedings of both the Houses of Parliament were adjourned till February 6 on Friday.
Congress President Mallikarjun Kharge questioned the silence of the government. He has described the stock crash as a great scam in Amrit Kaal. Kharge has demanded daily reporting of the matter under the supervision of the Joint Parliamentary Committee (JPC) or the Supreme Court.
Congress asked three questions to PM Modi in Adani case
Congress leader Jairam Ramesh has asked 3 questions to Prime Minister Narendra Modi on Sunday after the Hindenburg report on Adani Group surfaced. He wrote – The Modi government has kept silence amid serious allegations against the Adani group. This is a clear indication of collusion. The Prime Minister cannot escape by saying that we belong to Adani. Ramesh said that the Congress party would put three questions to the Prime Minister on this issue every day from today. He also asked three questions on the first day i.e. Sunday. Read Ramesh’s three questions below…
first question: Gautam Adani’s brother Vinod Adani has been accused of fraud in Panama Papers and Pandora Papers, what action has been taken on this?
second question: What action has been taken by ED, CBI and Income Tax on Gautam Adani after the Hindenburg report?
Third question: Only Adani Group was allowed to establish monopoly in airports and seaports, how is it possible?
Now read Jairam Ramesh’s letter to the Prime Minister…
Dear Prime Minister Modi,
In response to the Panama Papers revelations, on 4 April 2016, the Finance Ministry announced that it had directed the investigative agency to monitor money transactions from countries considered to be overseas tax havens. Subsequently, on September 5, 2016, during the G-20 summit in Hangzhou, China, you said: “We must eliminate safe havens for economic offenders, track down money launderers and unconditionally repatriate them to their countries.” There is a need to send and eliminate tough international laws and banking secrecy that hide the corrupt and their activities.”
Such situations lead us to such questions: Where you cannot escape by saying ‘Who are we Adani’.
1. Gautam Adani’s brother Vinod Adani’s name came up in the Panama Papers and Pandora Papers case. He has been accused of involvement in stock manipulation and falsification of accounts through offshore sales. You always exaggerate your intentions in fighting corruption. Due to this tendency of yours, the country had to pay a heavy price due to demonetisation. Today, when it is in front of us that the business house with which you are close is under serious allegations, what investigation did you get done in this regard?
2. Over the years you have misused ED, CBI and intelligence agencies to intimidate other parties and punish business houses that are not in the favor of your capitalist friends. What action have you taken to investigate the serious allegations that have been leveled against the Adani Group over the years? Can any fair investigation be expected under your supervision?
3. How is it possible that one of India’s biggest business houses, which has been allowed to monopolize airports and ports, has escaped serious scrutiny for so long despite being under constant scrutiny Is? Other business groups have been harassed and raided by agencies on flimsy charges. Was it necessary for the Adani group system that has taken advantage of the “anti-corruption” rhetoric all these years?
Congress leader Jairam Naresh has issued a letter asking 3 questions.
What is Hindenburg report
The Hindenburg Research Company released a report on 24 January. In this, major allegations like fraud and money laundering were made on Adani Group. In the report, Hindenburg accused Adani Group of market manipulation, accounting fraud and money laundering for several decades. It was also claimed in this report that all major listed companies of Adani Group have high debt and shares of all group companies are overvalued by more than 85%.
Gautam Adani’s net worth had reduced by 10% after the release of the report. According to Forbes, Adani suffered a loss of Rs 1.32 lakh crore in net worth. Shares of Adani Group also declined in the stock market of India. Meanwhile, the company has also canceled an FPO of Adani Enterprises and has talked about returning the investors’ money.
Ruckus in Parliament too
There was a lot of uproar in Parliament on Thursday regarding Hindenburg’s report on Adani Group. The entire opposition demanded a parliamentary panel (JPC) or a Supreme Court committee to investigate the financial transactions of the Adani Group. Lok Sabha and Rajya Sabha had to adjourn proceedings due to uproar over the issue.
Big things of the last 9 days after Hindenburg’s report…
- January 24: Hindenburg released a 106-page report, making major allegations like stock market fraud and money laundering on the Adani Group.
- January 27: Adani Enterprises brought FPO of 20,000 crores. Got only 1% subscription on the first day. The price band of the offer was kept at Rs 3,112 to Rs 3,276 per share.
- January 29: The FPO of Adani Enterprises is fully subscribed. On the same day, Adani Group called Hindenburg’s report wrong. Said- This is an attack on India under conspiracy. The group replied in 413 pages.
- February 1: Adani Group canceled the fully subscribed FPO worth Rs 20,000 crore and talked about returning the money to the investors.
- February 2: Gautam Adani gave a video message after canceling the FPO. In this he said, ‘For me the interest of the investors is paramount.’ On the same day, the opposition created a ruckus in the Parliament, RBI has asked all the banks of the country to give details of loans and investments given to Adani Group. NSE added three stocks of Adani Group to the Additional Surveillance Measures (ASM) list for short term.
- February 3: On the Hindenburg report, the government said on Friday that the exposure of banks and insurers was within “permissible limits”.
Leaders of 13 opposition parties were present in Mallikarjun Kharge’s chamber in the Parliament complex.
American stock exchange Dow Jones has removed Adani Enterprises from its sustainability index.
Read these news also…
1. RBI asked banks – how much loan was given to Adani Group, Adani himself came forward
There was a lot of uproar in Parliament on Thursday regarding Hindenburg’s report on Adani Group. The entire opposition demanded a parliamentary panel (JPC) or a Supreme Court committee to investigate the financial transactions of the Adani Group. Due to uproar over the issue, Lok Sabha and Rajya Sabha had to be adjourned till 2 pm first and then till the next day as soon as the proceedings started. Read the full news…
2. When Dhirubhai Ambani was trapped in Adani-like situation: 40 years old interesting story of saving and counterattacking Reliance
Adani is in trouble. After the publication of the Hindenburg report, the shares of his companies fell flat. In the list of the world’s rich, he has slipped from number three to number 17. There is only one question in the mind of the people – how will Adani bounce back. Bhaskar will know in the explainer what is the story of 1982 related to Dhirubhai Ambani… Read full…