Jairam Ramesh assures JPC inquiry against Adani if Congress is brought to power

General Secretary in-charge Communications, Indian National Congress Jairam Ramesh assured that a Joint Parliamentary Committee inquiry will be launched against Adani Group Companies were the party to come to power in June 2024. 

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A report from Reuters indicating that Adani offshore investors had flouted disclosure rules prompted this reaction. “Reuters news report suggests that SEBI has found that "a dozen offshore funds invested in Adani Group companies were in violation of disclosure rules and in breach of investment limits". PM Modi's strong and personal electoral bond with Adani cannot cover up his close friend's illegality any longer. The needle of suspicion points directly to close Adani associates Nasser Ali Shahban Ahli and Chang Chung-Ling. It was previously reported that SEBI was investigating Ahli's British Virgin Island-incorporated shell company Gulf Asia Trade & Investment fund for violating share ownership rules and for potentially acting in concert with the Adani Group to manipulate share values and to carry out money laundering and round tripping through offshore tax havens. The Organised Crime and Corruption Reporting Project (OCCRP) had previously revealed that Chang and Ahli used benami funds to amass large stakes in the Adani Group between 2013 and 2018. Rs 20,000 crore of benami funds have flowed into Adani Group companies as a result of these transactions. We look forward to the immediate publication of SEBI's long-delayed report on these gross violations of Indian securities laws in the Adani MegaScam,” a statement by Jairam Ramesh mentioned.