Adani-Hindenburg 2.0: Millions of dollars invested in Adani stocks via OPAQUE funds, reports OCCRP
Addressing a press conference after attending the opposition bloc INDIA’s meeting in Mumbai, Rahul said that two prominent global financial newspapers (The Guardian and Financial Times) have raised very important questions on the Adani matter as he brandished copies of the newspapers.
Referring to the allegations Rahul said the mastermind behind this is a gentleman called Vinod Adani, who is the brother of Gautam Adani.
“There are two other people who are involved in this round-tripping of money. One is a gentleman called Nasir Ali Shaban Ahli and another is a Chinese gentleman called Chang Chung Ling,” Rahul said.
The Congress leader asked whose money was used for the alleged stock manipulation and wondered why two foreign nationals were being allowed to play with the valuation of one of the companies that “controls almost all of Indian infrastructure.”
Training his guns on the government, Rahul questioned Prime Minister Narendra Modi’s “silence” on the issue and wondered why he is not getting the matter investigated.
“It is very important that the Prime Minister of India Mr Narendra Modi clears his name and categorically explains what is going on,” Rahul said.
The Congress leader also demanded a joint parliamentary committee (JPC) probe into the matter.
“At the very least, a JPC should be allowed and a thorough investigation should take place. I don’t understand why the PM is not forcing an investigation? Why is he quiet and people who are responsible are put behind bars?” Rahul asked.
The Congress leader added that India’s reputation is at stake ahead of next week’s G20 summit in the national capital and the issue should be dealt with before that.
Citing the Hindenburg report against Adani, Rahul said there was a Sebi probe into the group but a clean chit was given to them. “It’s very clear that something is wrong here,” he added.
Meanwhile, the BJP hit back at the opposition’s attack on the Adani Group, saying that India’s rise as a strong nation has become an eyesore for many people.
Responding to questions on the issue, BJP national spokesperson Sayed Jafar Islam told a press conference that “but this much I would definitely say that there are some forces like George Soros…India, which used to be a soft nation, is today emerging as a strong nation. This is an eyesore for many people.”
“The agencies and institutions that deal with such allegations will do their work. I don’t think any comment should be made on this issue without any knowledge about it,” he said.
Billionaire Gautam Adani’s group was on Thursday hit by fresh allegations that the associates of the promoter family used Mauritius-based “opaque” investment funds to secretly pump money into the group, fuelling its spectacular stock rise in during 2013 to 2018.
The report was released by OCCRP (Organised Crime and Corruption Reporting Project), which is funded by the likes of George Soros and Rockefeller Brothers Fund.
The conglomerate has vehemently denied the charges.
The fresh allegations by OCCRP came months after a report by US short-selling firm Hindenburg Research wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens.
(With inputs from agencies)
Watch Rahul Gandhi demands JPC to probe fresh ’round tripping’ allegations against Adani group
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