Vindicates demand for JPC probe: Congress on charges against Adani in US

With indictment of billionaire Gautam Adani and others by the Securities and Exchanges Commission (SEC) of the US, the Congress on Thursday said it “vindicates” its demand for a Joint Parliamentary Committee investigation into the various “scams” involving his conglomerate.

The opposition party also called for “a new and credible” SEBI head to be appointed to complete the securities law investigations into the “Adani Mega Scam”.

Congress general secretary in-charge communications Jairam Ramesh said the US Securities and Exchange Commission's actions also cast poor light on the manner in which its Indian counterpart, namely SEBI, has gone about investigating violations of securities and other laws by the Adani Group and its abject failure to hold the Group to account for the source of its investments, shell companies, etc.

“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 said in a post on X.

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

In another post, he said the five-count indictment of Gautam Adani, Sagar R Adani and others unsealed by the US Attorney's Office, Eastern District of New York has revealed more shocking details about Adani's criminal activities.