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Tag: JPC probe

  • Congress reiterates want for JPC to probe allegations towards Adani workforce

    Through PTI

    NEW DELHI: The Congress on Monday alleged that the Very best Court docket-appointed skilled committee and the SEBI have “hit partitions” whilst investigating the Adani workforce’s transactions and wired the will for a joint parliamentary committee probe to resolve the reality within the topic.

    The Congress’ statement comes after a document via the Very best Court docket-appointed skilled committee stated it has discovered no proof of inventory worth manipulation in Adani workforce corporations, whilst a separate SEBI probe into alleged violation in cash flows from offshore entities has “drawn a clean.”

    Taking to Twitter, Congress normal secretary Jairam Ramesh tagged a media document which claimed that the Registrar of Firms (Gujarat), in a ruling previous this month, has held that Adani Energy and its officers had violated provisions of the Firms Act, 2013, via no longer reporting related-party contracts and transactions within the sign in of contract.

    “Because the Modani brigade desperately tries to spin the Very best Court docket Knowledgeable Committee’s document as a ‘blank chit’ (it’s not), extra proof emerges that Adani has engaged in more than one related-party transactions aimed toward duping minority shareholders and unfairly enriching the promoters,” Ramesh stated.

    “The Registrar of Firms in Gujarat just lately dominated that Adani Energy had violated the Firms Act, 2013, via hiding related-party contracts and transactions. It imposed consequences on Gautam Adani, Rajesh Adani and Vineet Jain,” he stated.

    In the meantime, the Very best Court docket Committee or even SEBI have “hit partitions” when investigating the Adani workforce’s transactions, Ramesh claimed.

    “For this reason we want a JPC to resolve the Modani MegaScam,” he stated.

    The Congress has been difficult a Joint Parliamentary Committee (JPC) probe into the allegations towards the Adani Staff. The Adani Staff has pushed aside the allegations as baseless.

    NEW DELHI: The Congress on Monday alleged that the Very best Court docket-appointed skilled committee and the SEBI have “hit partitions” whilst investigating the Adani workforce’s transactions and wired the will for a joint parliamentary committee probe to resolve the reality within the topic.

    The Congress’ statement comes after a document via the Very best Court docket-appointed skilled committee stated it has discovered no proof of inventory worth manipulation in Adani workforce corporations, whilst a separate SEBI probe into alleged violation in cash flows from offshore entities has “drawn a clean.”

    Taking to Twitter, Congress normal secretary Jairam Ramesh tagged a media document which claimed that the Registrar of Firms (Gujarat), in a ruling previous this month, has held that Adani Energy and its officers had violated provisions of the Firms Act, 2013, via no longer reporting related-party contracts and transactions within the sign in of contract.googletag.cmd.push(serve as() googletag.show(‘div-gpt-ad-8052921-2’); );

    “Because the Modani brigade desperately tries to spin the Very best Court docket Knowledgeable Committee’s document as a ‘blank chit’ (it’s not), extra proof emerges that Adani has engaged in more than one related-party transactions aimed toward duping minority shareholders and unfairly enriching the promoters,” Ramesh stated.

    “The Registrar of Firms in Gujarat just lately dominated that Adani Energy had violated the Firms Act, 2013, via hiding related-party contracts and transactions. It imposed consequences on Gautam Adani, Rajesh Adani and Vineet Jain,” he stated.

    In the meantime, the Very best Court docket Committee or even SEBI have “hit partitions” when investigating the Adani workforce’s transactions, Ramesh claimed.

    “For this reason we want a JPC to resolve the Modani MegaScam,” he stated.

    The Congress has been difficult a Joint Parliamentary Committee (JPC) probe into the allegations towards the Adani Staff. The Adani Staff has pushed aside the allegations as baseless.

  • Congress repeats call for for JPC to probe Adani factor after studies of Vinod Adani’s resignation

    By way of PTI

    NEW DELHI: A Joint Parliamentary Committee at the Adani factor is very important to give the “unvarnished reality” to the folk, the Congress mentioned on Wednesday after billionaire Gautam Adani’s elder brother reportedly resigned as director of 3 corporations.

    Congress basic secretary Jairam Ramesh mentioned that whilst the Congress awaits the record of the Perfect Courtroom-appointed Skilled Committee at the “Adani mega rip-off”, it notes that its mandate is restricted to violations of securities rules and lacks formal judicial authority over more than a few regulatory and investigative companies.

    Information studies counsel that Gautam Adani’s elder brother Vinod has resigned as director of 3 corporations carefully hooked up to the Adani Workforce’s Australia port and mining initiatives, Ramesh mentioned in a observation.

    “Vinod Adani has prior to now been speculated to have engaged in ‘brazen inventory manipulation’ and ‘accounting fraud’ by way of ‘an infinite labyrinth of offshore shell entities’,” he alleged.

    “Likewise in Australia, Abbot Level Port Holdings — managed via him by way of shell corporations within the British Virgin Islands and the Cayman Islands — helped offload billions of bucks of Adani Workforce debt by way of linked birthday celebration transactions geared toward disguising the actual extent of the Adani Workforce’s losses from traders,” the Congress chief alleged.

    ALSO READ | Simplest manner ahead is JPC probe: Congress after guy at centre of Adani-China row says he is Taiwanese

    Two UAE-based shell corporations managed via him additionally lent USD 3.3 billion in opaque price range to the Carmichael venture in Australia, as identical offshore entities managed via him have achieved with different Adani Workforce companies, he mentioned.

    The Opposition led via the Congress has been in search of a Joint Parliamentary Committee probe after the US-based Hindenburg Analysis made a litany of allegations towards the Adani Workforce, together with fraudulent transactions and share-price manipulation.

    The Gautam Adani-led workforce has brushed aside the costs as lies, and mentioned they agree to all rules and disclosure necessities.

    “As we identified in our February 16, 2023 Hum Adani ke Hain Kaun (HAHK) inquiries to High Minister Narendra Modi, Vinod Adani-related entities within the UAE have been additionally discovered via the Directorate of Income Intelligence to be concerned within the energy apparatus under-invoicing rip-off beneath which Rs 5,500 crore used to be allegedly syphoned out of India,” Ramesh alleged.

    “Whilst we look ahead to the record of the Perfect Courtroom-appointed Skilled Committee into the Adani Mega Rip-off, we observe that its mandate is restricted to violations of securities rules and that it lacks formal judicial authority over more than a few regulatory and investigative companies,” he mentioned.

    It’s going to now not, as an example, glance into whether or not High Minister Modi allegedly “compelled” the State Financial institution of India (SBI) to signal an MoU to lend the Adani Workforce USD billion over a lunch assembly with Gautam Adani and SBI chairperson Arundhati Bhattacharya, Ramesh mentioned.

    The committee may also now not examine the actual supply of the Rs 20,000 crore of unaccounted funding within the Adani Workforce, he mentioned.

    “We, subsequently, reiterate the opposition call for for a Joint Parliamentary Committee to inspect all of the related facets of the Adani Mega Rip-off and to give the unvarnished reality to the folk of India,” Ramesh mentioned.

    Posting his observation on twitter, Ramesh prompt the top minister to wreck his “silence” at the factor.

    The Congress has additionally posed a collection of 100 inquiries to High Minister Modi at the Adani factor.

    NEW DELHI: A Joint Parliamentary Committee at the Adani factor is very important to give the “unvarnished reality” to the folk, the Congress mentioned on Wednesday after billionaire Gautam Adani’s elder brother reportedly resigned as director of 3 corporations.

    Congress basic secretary Jairam Ramesh mentioned that whilst the Congress awaits the record of the Perfect Courtroom-appointed Skilled Committee at the “Adani mega rip-off”, it notes that its mandate is restricted to violations of securities rules and lacks formal judicial authority over more than a few regulatory and investigative companies.

    Information studies counsel that Gautam Adani’s elder brother Vinod has resigned as director of 3 corporations carefully hooked up to the Adani Workforce’s Australia port and mining initiatives, Ramesh mentioned in a observation.googletag.cmd.push(serve as() googletag.show(‘div-gpt-ad-8052921-2’); );

    “Vinod Adani has prior to now been speculated to have engaged in ‘brazen inventory manipulation’ and ‘accounting fraud’ by way of ‘an infinite labyrinth of offshore shell entities’,” he alleged.

    “Likewise in Australia, Abbot Level Port Holdings — managed via him by way of shell corporations within the British Virgin Islands and the Cayman Islands — helped offload billions of bucks of Adani Workforce debt by way of linked birthday celebration transactions geared toward disguising the actual extent of the Adani Workforce’s losses from traders,” the Congress chief alleged.

    ALSO READ | Simplest manner ahead is JPC probe: Congress after guy at centre of Adani-China row says he is Taiwanese

    Two UAE-based shell corporations managed via him additionally lent USD 3.3 billion in opaque price range to the Carmichael venture in Australia, as identical offshore entities managed via him have achieved with different Adani Workforce companies, he mentioned.

    The Opposition led via the Congress has been in search of a Joint Parliamentary Committee probe after the US-based Hindenburg Analysis made a litany of allegations towards the Adani Workforce, together with fraudulent transactions and share-price manipulation.

    The Gautam Adani-led workforce has brushed aside the costs as lies, and mentioned they agree to all rules and disclosure necessities.

    “As we identified in our February 16, 2023 Hum Adani ke Hain Kaun (HAHK) inquiries to High Minister Narendra Modi, Vinod Adani-related entities within the UAE have been additionally discovered via the Directorate of Income Intelligence to be concerned within the energy apparatus under-invoicing rip-off beneath which Rs 5,500 crore used to be allegedly syphoned out of India,” Ramesh alleged.

    “Whilst we look ahead to the record of the Perfect Courtroom-appointed Skilled Committee into the Adani Mega Rip-off, we observe that its mandate is restricted to violations of securities rules and that it lacks formal judicial authority over more than a few regulatory and investigative companies,” he mentioned.

    It’s going to now not, as an example, glance into whether or not High Minister Modi allegedly “compelled” the State Financial institution of India (SBI) to signal an MoU to lend the Adani Workforce USD billion over a lunch assembly with Gautam Adani and SBI chairperson Arundhati Bhattacharya, Ramesh mentioned.

    The committee may also now not examine the actual supply of the Rs 20,000 crore of unaccounted funding within the Adani Workforce, he mentioned.

    “We, subsequently, reiterate the opposition call for for a Joint Parliamentary Committee to inspect all of the related facets of the Adani Mega Rip-off and to give the unvarnished reality to the folk of India,” Ramesh mentioned.

    Posting his observation on twitter, Ramesh prompt the top minister to wreck his “silence” at the factor.

    The Congress has additionally posed a collection of 100 inquiries to High Minister Modi at the Adani factor.

  • Opposition cohesion in disarray as events cling separate protests towards Centre

    Categorical Information Provider

    NEW DELHI: CRACKS within the Opposition ranks as soon as once more got here to the fore on Tuesday right through protests not easy a Joint Parliamentary Committee (JPC) probe at the Hindenburg document, which accused the Adani crew of fraud and inventory manipulation. 

    Quickly after the Lok Sabha used to be adjourned within the morning because of protests over Rahul Gandhi’s remarks, the Congress and several other different events, together with the DMK, CPM, JDU, RJD, NCP, SP and others staged a protest outdoor Parliament not easy a JPC probe. On the other hand, the department a few of the opposition used to be obvious because the BRS and AAP selected to face a bit clear of different events, conserving placards not easy a JPC investigation.

    Elevating the similar call for, the TMC selected to move on my own through conserving a protest on the Mahatma Gandhi statue within the Parliament advanced.  The disunity a few of the events used to be additionally obvious on the Opposition birthday party assembly known as through Congress leader Mallikarjun Kharge prior to now two days to fine-tune technique for the Parliament consultation. The AAP used to be provide, however TMC stayed away on each days. 

    ALSO READ | Parliament adjourned for 2nd day over Adani factor, Rahul’s commentary

    The AAP and the Congress are at loggerheads in numerous states. The stress between each events escalated after the arrest of AAP chief and Delhi deputy Leader Minister Manish Sisodia within the Delhi liquor rip-off case. Whilst the entire different Opposition events condemned the arrest, Congress welcomed it. The Congress used to be additionally lacking from the listing of signatories after 10 events wrote to the PM lambasting the misuse of businesses. 

    In a similar fashion, the BRS and TMC percentage rocky ties with the Congress for the reason that events imagine the grand outdated birthday party is making an attempt to play a large brother’s position. All through the new Meghalaya meeting election marketing campaign, Congress chief Rahul Gandhi known as the TMC the B crew of the BJP. 

    Parliament logjam

    Parliament lawsuits have been paralysed on Tuesday with the BJP searching for Rahul Gandhi’s apology and the Congress waving placards with quotes from PM Narendra Modi’s speeches right through his international journeys.

    NEW DELHI: CRACKS within the Opposition ranks as soon as once more got here to the fore on Tuesday right through protests not easy a Joint Parliamentary Committee (JPC) probe at the Hindenburg document, which accused the Adani crew of fraud and inventory manipulation. 

    Quickly after the Lok Sabha used to be adjourned within the morning because of protests over Rahul Gandhi’s remarks, the Congress and several other different events, together with the DMK, CPM, JDU, RJD, NCP, SP and others staged a protest outdoor Parliament not easy a JPC probe. On the other hand, the department a few of the opposition used to be obvious because the BRS and AAP selected to face a bit clear of different events, conserving placards not easy a JPC investigation.

    Elevating the similar call for, the TMC selected to move on my own through conserving a protest on the Mahatma Gandhi statue within the Parliament advanced.  The disunity a few of the events used to be additionally obvious on the Opposition birthday party assembly known as through Congress leader Mallikarjun Kharge prior to now two days to fine-tune technique for the Parliament consultation. The AAP used to be provide, however TMC stayed away on each days. googletag.cmd.push(serve as() googletag.show(‘div-gpt-ad-8052921-2’); );

    ALSO READ | Parliament adjourned for 2nd day over Adani factor, Rahul’s commentary

    The AAP and the Congress are at loggerheads in numerous states. The stress between each events escalated after the arrest of AAP chief and Delhi deputy Leader Minister Manish Sisodia within the Delhi liquor rip-off case. Whilst the entire different Opposition events condemned the arrest, Congress welcomed it. The Congress used to be additionally lacking from the listing of signatories after 10 events wrote to the PM lambasting the misuse of businesses. 

    In a similar fashion, the BRS and TMC percentage rocky ties with the Congress for the reason that events imagine the grand outdated birthday party is making an attempt to play a large brother’s position. All through the new Meghalaya meeting election marketing campaign, Congress chief Rahul Gandhi known as the TMC the B crew of the BJP. 

    Parliament logjam

    Parliament lawsuits have been paralysed on Tuesday with the BJP searching for Rahul Gandhi’s apology and the Congress waving placards with quotes from PM Narendra Modi’s speeches right through his international journeys.

  • If not anything to cover, why is government working clear of JPC probe into Adani factor: Jairam Ramesh

    By way of PTI

    NEW DELHI: The Congress on Tuesday alleged that the Centre used to be “working away” from a JPC probe into the Adani-Hindenburg factor and stated such an investigation be allowed if the federal government has not anything to cover within the subject.

    The Congress’ assault at the govt got here after Union House Minister Amit Shah’s reported remarks that there’s not anything for the Bharatiya Janata Birthday celebration (BJP) to cover or be terrified of within the subject.

    Addressing a press convention on the AICC headquarters right here, Congress normal secretary Jairam Ramesh stated he has written to RBI Governor Shaktikanta Das and SEBI leader Madhabi Puri Buch for an unbiased probe into the Adani factor.

    Reacting to Shah’s reported remarks, Ramesh stated, “If they don’t have anything else to cover, why are they working clear of a Joint Parliamentary Committee (probe).”

    “They don’t even permit us to lift the call for of the JPC in Parliament. When our leaders, together with celebration president Mallikarjun Kharge ji, raised the call for for JPC, their remarks have been expunged,” Ramesh stated.

    If there’s not anything to cover, the federal government will have to permit a JPC, he stressed out.

    His remarks got here an afternoon after the Centre agreed to the Ideal Courtroom’s proposal to arrange a panel of professionals to seem into strengthening the regulatory mechanisms for the inventory marketplace within the wake of the new Adani team stocks crash caused by way of Hindenburg Analysis’s fraud allegations.

    Announcing it has no objection to constituting the panel, the Centre, on the similar time, stressed out that marketplace regulator Securities and Change Board of India (SEBI) and different statutory our bodies are “absolutely supplied”, now not most effective regime smart, however another way additionally to handle the placement.

    Ramesh stated it is very important have a look at the petition that have been filed within the court docket which he claimed used to be principally towards Hindenburg analysis. Investigation will have to be towards Adani and its ties with the federal government, Ramesh stated.

    Ramesh stated he would, then again, additionally make it transparent that the Congress is in favour of personal investments and so they wish to be inspired.

    “Now we have all the time stated we’re in favour of entrepreneurship and that’s the future of financial building. We’re towards blind privatisation and promoting of PSUs,” he stated.

    The Congress is in favour of liberalisation, however this will have to be at the foundation of regulations and establishments which will have to serve as independently in order that the principles will also be implemented in an unbiased and clear approach.

    Our combat is towards crony capitalism, he asserted.

    “We can now not be cowed down, we will be able to stay elevating our voice,” he stated. He additionally claimed that each one Opposition events are at the similar web page in hard a JPC probe into the Adani factor.

    NEW DELHI: The Congress on Tuesday alleged that the Centre used to be “working away” from a JPC probe into the Adani-Hindenburg factor and stated such an investigation be allowed if the federal government has not anything to cover within the subject.

    The Congress’ assault at the govt got here after Union House Minister Amit Shah’s reported remarks that there’s not anything for the Bharatiya Janata Birthday celebration (BJP) to cover or be terrified of within the subject.

    Addressing a press convention on the AICC headquarters right here, Congress normal secretary Jairam Ramesh stated he has written to RBI Governor Shaktikanta Das and SEBI leader Madhabi Puri Buch for an unbiased probe into the Adani factor.

    Reacting to Shah’s reported remarks, Ramesh stated, “If they don’t have anything else to cover, why are they working clear of a Joint Parliamentary Committee (probe).”

    “They don’t even permit us to lift the call for of the JPC in Parliament. When our leaders, together with celebration president Mallikarjun Kharge ji, raised the call for for JPC, their remarks have been expunged,” Ramesh stated.

    If there’s not anything to cover, the federal government will have to permit a JPC, he stressed out.

    His remarks got here an afternoon after the Centre agreed to the Ideal Courtroom’s proposal to arrange a panel of professionals to seem into strengthening the regulatory mechanisms for the inventory marketplace within the wake of the new Adani team stocks crash caused by way of Hindenburg Analysis’s fraud allegations.

    Announcing it has no objection to constituting the panel, the Centre, on the similar time, stressed out that marketplace regulator Securities and Change Board of India (SEBI) and different statutory our bodies are “absolutely supplied”, now not most effective regime smart, however another way additionally to handle the placement.

    Ramesh stated it is very important have a look at the petition that have been filed within the court docket which he claimed used to be principally towards Hindenburg analysis. Investigation will have to be towards Adani and its ties with the federal government, Ramesh stated.

    Ramesh stated he would, then again, additionally make it transparent that the Congress is in favour of personal investments and so they wish to be inspired.

    “Now we have all the time stated we’re in favour of entrepreneurship and that’s the future of financial building. We’re towards blind privatisation and promoting of PSUs,” he stated.

    The Congress is in favour of liberalisation, however this will have to be at the foundation of regulations and establishments which will have to serve as independently in order that the principles will also be implemented in an unbiased and clear approach.

    Our combat is towards crony capitalism, he asserted.

    “We can now not be cowed down, we will be able to stay elevating our voice,” he stated. He additionally claimed that each one Opposition events are at the similar web page in hard a JPC probe into the Adani factor.