Initiate ED raids on Adani Group, demand Opposition leaders

The TMC and the NCP were not signatories to the letter

Update: 2023-03-15 16:55 GMT
The shares of Adani Transmission were trading at Rs 333.95 apiece on BSE, up 0.6 per cent from previous close.

New Delhi: The leaders of several Opposition parties on Wednesday urged the Enforcement Directorate to initiate an investigation into the Adani Group over allegations of corrupt practices, including money laundering through shell companies. The Opposition also took out a protest march but was stopped by the security personnel as it wanted to march to the ED headquarters.

In the letter, the Opposition leaders alleged that the Adani Group companies are accused of having established a network of offshore shell companies and offshore funds controlled by parties related to the Adani Group for the purposes of "artificially inflating stock valuations and to give a distorted picture with regard to the group companies' financial health".

The Opposition leaders alleged that there is "a clear pattern of corruption, cronyism and habitual law-breaking". They further added: "It is surprising that, despite all of the above, the ED has shown little to no interest in pursuing a basic investigation into the entities' affairs."

The letter further claimed that over the last three months, several crucial pieces of evidence had been made available against the Adani Group in the public domain. "Yet the ED, which claims to pursue such cases with vigour and fairness, has not launched even a preliminary enquiry into these very serious charges," the letter as signed by leaders of the Congress, CPI, CPI(M), JD(U), SS (UBT), RJD, DMK, JMM, AAP, IUML, Viduthalai Chiruthaigal Katchi, Kerala Congress and others alleged.

The TMC and the NCP were not signatories to the letter.

Several Opposition leaders, including Rahul Gandhi, also attacked the government over a media report claiming that a key Adani Group investor is also the co-owner of a defence firm owned by the conglomerate.

In a tweet in Hindi, Congress general secretary Priyanka Gandhi Vadra hit out at the government over the media report. "A leading newspaper of the country has revealed the co-ownership of a dubious Mauritius-based company with a firm of Adani Group. This firm of Adani Group, has important contracts in ISRO-DRDO and the defence sector," Ms Vadra said in a tweet, adding, "But the Prime Minister neither wants a discussion on this in Parliament, nor any investigation. Why?"

The Opposition has been demanding that a JPC be constituted on the Adani issue, which has caused disruptions in Parliament.

For its part, the Adani Group has denied all the allegations.

Similar News