Member of Parliament Rahul Gandhi pledged on Wednesday that if the Congress party is elected in the 2024 national elections, they will launch an investigation into the Adani Group. He also called on Prime Minister Narendra Modi to safeguard his reputation by initiating an inquiry.
Gandhi stressed that recent revelations regarding the Adani Group have had a significant impact and have raised questions about the Prime Minister's credibility. He suggested that the only person who could shield the Prime Minister was the founder of the Adani Group, Gautam Adani. Gandhi stated that he was attempting to assist the Prime Minister by urging him to be transparent and preserve his credibility, but it appeared that the Prime Minister was unwilling to do so.
Gandhi referred to a report published this month in The Financial Times (FT) which detailed the Adani Group's alleged over-invoicing of coal imports. He characterized this as a major issue, describing it as a direct form of theft, and accused Modi of repeatedly safeguarding Adani. He pointed out that while state Congress governments were providing power subsidies, the Adani Group was allegedly overcharging for coal, thereby directly impacting the people of India. He argued that this could only happen with the protection of the Prime Minister.
The Adani Group dismissed the FT's allegations as ""renewed"" efforts to revive old and unfounded accusations against the conglomerate. They accused the newspaper of running a sustained campaign against the group, which they believed was driven by vested interests masquerading as public interest.
Gandhi questioned why the government was hesitant to investigate the Adani Group, suggesting that there was something exceptional about them. He noted that the government had opposed calls for a Joint Parliamentary Committee (JPC) investigation into the matter.
Gandhi also criticized the Securities and Exchange Board of India (SEBI) for claiming that they were not receiving necessary documents, while FT had managed to obtain all the documents. He stated that it was abundantly clear that the highest echelons of the government, including the Prime Minister, were protecting Adani. Gandhi alleged that despite having all the necessary documents, no action was being taken. He asserted that when you use electricity in India, Adani benefits, and it is the Indian Prime Minister who is protecting the group. In his view, Adani seemingly had free rein to operate without facing an investigation.
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