Rahul Gandhi seeks JPC probe into fresh report on Adani; says India’s reputation at stake

MUMBAI, Aug 31: Congress leader Rahul Gandhi on Thursday sought a Joint Parliamentary
Committee (JPC) probe into reports that Adani family associates secretly invested “hundreds of
millions” in the company through opaque investment funds based in Mauritius.
Addressing a press conference in Mumbai, Gandhi referred to news articles by some prominent
foreign newspapers on Adani Group.
“These are not random newspapers. These newspapers affect investment in India and the
perception of India in the rest of the world. They are stating that over a billion dollars of money went
from India, was circulated in different places and then came back to India,” he said.
“The first question arises: whose money is this? Is it Adani’s or someone else’s? 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,” he said.
“So, the second question arises – why are these two foreign nationals being allowed to play with the
valuation of one of the companies that controls almost all of Indian infrastructure,” Gandhi said.
“The gentleman who conducted SEBI investigation and gave a clean chit to Adani Group is now a
director on a media company owned by the same group,” Gandhi said.
Billionaire Gautam Adani’s group was on Thursday hit by fresh allegations that it used family
associates to secretly invest hundreds of millions of dollars through “opaque” Mauritius-based
investment funds to fuel the spectacular rise in group stocks from 2013 to 2018. The conglomerate
vehemently denied the charge.
An article by the Organised Crime and Corruption Reporting Project (OCCRP) alleged that millions of
dollars were invested in some publicly traded stocks of Adani Group through ‘opaque’ Mauritius
funds that “obscured” involvement of alleged business partners of the Adani family.
Gandhi questioned Prime Minister Narendra Modi as to why the latter had not forced an
investigation. “Why is PM Modi silent,” he added.
“This is raising very serious questions on the PM just before G20 leaders come here. It is important
that this issue is made clear before they (G20 leaders) arrive,” Gandhi added.
“India’s reputation is at stake ahead of the G20 meet in the country. PM Modi should take action
and get the Adani issue investigated,” he said. (PTI)