Congress leader Rahul Gandhi on Thursday took upon the Adani Group stock manipulation case and asked for a Joint Parliamentary Committee (JPC) to investigate the matter.
Gandhi cited media reports and questioned the investigation by the Securities and Exchange Board of India (Sebi).
“The person from the Sebi who undertook the investigation is now the director of NDTV,” the Congress leader said.
He said that since India is hosting the G20 meeting next week, such allegations affect the “image of India”.
“It is important for a country like India that there is a level playing field and transparency in our economic environment and businesses. Such allegations affect investment in India and the perception of India in the rest of the world…”
Speaking further on the Adani case, he said that there are some prominent questions.
“Over a billion dollars of money went from India, circulated across the globe, and then came back to India. So the first question that arises is, whose money is this? Is this Adani’s or someone else’s? The mastermind behind this is Vinod Adani, the brother of Gautam Adani. Two other people are involved in this round-tripping of money — Nasir Ali Shaban Ahli and a Chinese investor, Chang Chung Ling.”
“The second question that arises is, why are these two foreign nationals being allowed to play with the valuation of one of the companies that controls almost all of the Indian infrastructure…,” he added.
Regarding the market regulator’s investigation into the Adani case, Gandhi said, “There was an investigation, which was followed by evidence given to the Sebi, but it gave a clean chit to Gautam Adani. So, it is clear that there is something very wrong here.”
He added that investigation agencies such as the Enforcement Directorate (ED), and the Central Bureau of Investigation (CBI) are not investigating this matter.
“India’s reputation is on the line,” he added.