Adani indictment in U.S. vindicates demand for JPC probe, says Congress

U.S. charges Gautam Adani with fraud : The Congress on November 21 reiterated its demand for a JPC probe into the transactions of the Adani Group after the India conglomerate’s billionaire chairman was indicted in New York over allegations of bribery and fraud.

The Congress on Thursday (November 21, 2024) reiterated its demand for a Joint Parliamentary Committee (JPC) probe into the transactions of the Adani Group after the India conglomerate’s billionaire chairman was indicted in New York over allegations of bribery and fraud.

Senior Congress leader Jairam Ramesh said that the U.S. vindicated the demand that the Congress was making for a JPC investigation into the various alleged scams.

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In a post on X, Mr. Jairam said, “The indictment of Gautam Adani and others by the Securities and Exchanges Commission (SEC) of the US vindicates the demand that the Indian National Congress has been making since Jan 2023 for a Joint Parliamentary Committee (JPC) investigation into the various Modani scams.”

“The INC had asked a hundred questions in its Hum Adani ke Hain (HAHK) series bringing out the various dimensions of these scams and of the intimate nexus that has existed between the PM and his favourite businessman. These questions have remained unanswered,” he added.

The Congress leader also mentioned that the actions of the Securities and Exchanges Commission (SEC) of the U.S. cast a poor light on the manner in which its “Indian counterpart, namely SEBI”, has gone about investigating alleged violations of securities and other laws by the Adani Group.

“The INC reiterates its demand for a JPC in the transactions of the Adani Group, which is leading to growing monopolization in key sectors of the Indian economy, fuelling inflation, and posing huge foreign policy challenges as well, especially in our neighbourhood,” Jairam Ramesh said further.