Mumbai: Hours after Organised Crime and Corruption Reporting Project (OCCRP) alleged that Adani family secretly invested in own shares trough Mauritius-based investment funds 'Opaque', Congress leader Rahul Gandhi has demanded a Joint Parliamentary Committee (JPC) probe into these reports. Addressing a press conference in Mumbai, Gandhi referred to news articles by some prominent foreign newspapers on Adani Group.
“These are not random newspapers. These newspapers affect investment in India and the perception of India in the rest of the world. They are stating that over a billion dollars of money went from India, was circulated in different places and then came back to India,” he said.
“The first question arises: whose money is this? Is it Adani's or someone else's? The mastermind behind this is a gentleman called Vinod Adani who is the brother of Gautam Adani. There are two other people who are involved in this round-tripping of money. One is a gentleman called Nasir Ali Shaban Ahli and another is a Chinese gentleman called Chang Chung Ling. So, the second question arises - why are these two foreign nationals being allowed to play with the valuation of one of the companies that controls almost all of Indian infrastructure,” Gandhi asked.
He added that the officials who conducted SEBI investigation and gave a clean chit to Adani Group is now a director on a media company owned by the same group.
Gandhi questioned Prime Minister Narendra Modi as to why the latter had not forced an investigation. Why is PM Modi silent, he added. This is raising very serious questions on the PM just before G20 leaders come here. It is important that this issue is made clear before they (G20 leaders) arrive, Gandhi added. India's reputation is at stake ahead of the G20 meet in the country. PM Modi should take action and get the Adani issue investigated, he said.
Billionaire Gautam Adani's group was on Thursday hit by fresh allegations after an article by the Organised Crime and Corruption Reporting Project (OCCRP) alleged that millions of dollars were invested in some publicly traded stocks of Adani Group through opaque' Mauritius funds that obscured involvement of alleged business partners of the Adani family.
Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
The two men, Nasser Ali Shaban Ahli and Chang Chung-Ling, who OCCRO claimed have longtime business ties to the Adani family and have also served as directors and shareholders in group companies and firms associated with Gautam Adani's elder brother, Vinod Adani, "spent years buying and selling Adani stock through offshore structures that obscured their involvement - and made considerable profits in the process."
The documents "show that the management company in charge of their investments paid a Vinod Adani company to advise them in their investment," it alleged.
(With PTI inputs)