Congress Demands JPC Probe And Calls Out Alleged Modi-Adani Nexus

In the aftermath of the US Securities and Exchange Commission's (SEC) charges against Gautam Adani for bribery and fraud, the Congress party has renewed its demand for a comprehensive parliamentary investigation. Senior Congress leader Jairam Ramesh emphasized that the US indictment validates their long-standing concerns about potential irregularities in Adani's business practices.

Ramesh highlighted the party's "Hum Adani ke Haan" campaign, which raised 100 questions about alleged scams and the purported links between Prime Minister Narendra Modi and Adani. He criticized the lack of satisfactory responses to these queries and stressed the urgent need for accountability.

The US authorities have leveled serious allegations against Adani, charging him with securities fraud and conspiracy. The indictment centers on a solar energy project agreement between Adani Green Energy Ltd. and another organization to supply 12 gigawatts of solar power to the Indian government.

Furthermore, Ramesh strongly criticized the Securities and Exchange Board of India (SEBI), arguing that its investigation into the Adani Group has been inadequate and ineffective. He suggested that the SEC's actions expose SEBI's failure to thoroughly examine the group's investments, potential shell companies, and other financial irregularities.

Legal documents reveal that while promoting the project to Wall Street investors over five years, the accused were simultaneously involved in a $265 million bribery scheme in India, with expected profits of $2 billion over two decades.

The Congress party continues to push for a Joint Parliamentary Committee probe to uncover the full extent of the alleged financial misconduct and potential political connections.