Congress leader Jairam Ramesh questions PM Modi's 'eloquent silence' over Adani-Hindenburg row

Carrying forward with the ‘Hum Adanike Hain Kaun’ series amid the ongoing Hindenburg-Adani row, Congress leader Jairam Ramesh came down heavily on the central government, saying that Prime Minister Narendra Modi has been reserving an “eloquent silence” by acting as ‘Mauni Baba’ on the ‘AdaniMahaMegaScam’.

Furthering targeting the Centre, Jairam Ramesh questioned PM Modi on why Adani Group is lying blatantly to investors and to public with regards to Vinod Adani’s association with the group and yet distancing itself from him? 

“Despite the Adani Group's claims distancing itself from Vinod Adani, in repeated public filings the Group has described Vinod Adani as an intrinsic part of the Adani Group. For instance, this memorandum filed with the Bombay Stock Exchange in 2020 for a ₹400 crore debt private placement clearly states: "Adani Group means S.B. Adani Family Trust, Adani Properties Private Limited, Adani Tradeline LLP, Gautam Adani, Rajesh Adani, Vinod S. Adani and all companies and entities controlled directly or indirectly by S.B. Adani Family Trust or Adani Properties Private Limited or Adani Tradeline LLP or Gautam Adani or Rajesh Adani or Vinod S. Adani, separately or collectively." Why is your close friend lying so blatantly to investors and to the public? Are the various investigative agencies that you have freely deployed against political parties, media and non-subservient businesspersons ever going to be used to investigate your cronies even when they are caught red-handed?” questioned Jairam Ramesh.

“On 16 September 2022, the Adani Group announced that "the Adani Family, through Endeavour Trade and Investment Ltd, a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd." The acquisition catapulted Adani to the rank of India's second-largest cement producer. The acquirer's SEBI filing stated in no uncertain terms that "the ultimate beneficial ownership of the Acquirer is held by Mr. Vinod Shantilal Adani and Mrs. Ranjanben Vinod Adani." Is it not a laughable falsehood for the Adani Group to now distance itself from Vinod Adani?” added Jairam Ramesh in his trail of questions.

Jairam Ramesh while furthering his attack on the Central government and PM Modi’s ‘silence’ over the matter posted another question, “An Australian investigation has shown that Vinod Adani's Pinnacle Trade and Investment, based in Singapore, controls a number of Adani Group assets in Australia. In 2020, Pinnacle entered into a $240 million loan agreement with Russia's now sanctioned VTB Bank, and then went on to lend $235 million to a related party, likely connected to the Adani Group according to Forbes magazine. Does this not clearly show that Vinod Adani is at the centre of financial flows that leverage one group of Adani assets to send loans to another, as alleged by Hindenburg? Is this not worthy of investigation by SEBI and the Enforcement Directorate?”

Congress came down heavily on BJP and created pandemonium in both Lok Sabha and the Rajya Sabha and disrupted the proceedings over Hindenburg report on February 6.

Alleging a scam in the shares of Adani Enterprises Limited (AEL), the opposition has been demanding a probe by a joint parliamentary committee (JPC) into the whole matter.

Also read : Congress asks PM Modi ‘Hum Adani ke Hain Kaun’ over fraud allegations by Hindenburg Research