JPC to investigate allegations against Adani:Cong group

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Congress alleged on Monday that the Supreme Court-appointed panel of experts and SEBI had “knocking the walls” when investigating the Adani Group’s transactions and stressed the need for a joint House committee investigation to find out the truth about the matter.

The Congressional assertion comes after a Supreme Court-appointed expert panel report said it had found no evidence of stock price manipulation at Adani Group companies, while an investigation Separate SEBI over alleged breach of money flows from offshore entities ‘draw a blank’.

Taking to Twitter, Congress Secretary General Jairam Ramesh tagged a news article which claimed that the Registrar of Companies (Gujarat), in a decision issued earlier this month, ruled that Adani Power and its officials had breached the provisions of the Companies Act 2013 by failing to report related party contracts and transactions in the contract register.

”As the Modani Squad desperately tries to portray the Supreme Court’s Expert Panel Report as a ‘good word’ (it’s not), more and more evidence is emerging that Adani is is engaged in multiple related party transactions aimed at duping minority shareholders and unfairly enriching developers,” Ramesh said.

”The Registrar of Companies in Gujarat recently ruled that Adani Power breached the Companies Act 2013 by hiding related party contracts and transactions. He imposed sanctions on Gautam Adani, Rajesh Adani and Vineet Jain,’ he said.

Meanwhile, the Supreme Court Committee and even SEBI have been “hitting the walls” when investigating the Adani Group’s dealings, Ramesh said.

“That’s why we need a JPC to unravel the Modani MegaScam,” he said.

Congress has demanded a Joint Parliamentary Committee (JPC) investigation into the allegations against the Adani Group.

The Adani Group dismissed the allegations as baseless.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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