Only JPC can unearth source of funds in Adani's Mauritius firms: Congress

Update: 2023-05-30 15:25 GMT

Reiterating that only a JPC can unearth the truth, the Congress on Tuesday (May 30) alleged that two offshore Adani-linked firms appear to have been on the radar of Indian tax authorities since at least 2014 with no action evident other than one or two routine notices.

The Congress cited a media report which claimed that at least two Mauritius companies, which invested in the Adani Group and found mention in the Hindenburg report were on the radar of Indian tax authorities for over a decade.

Read More: Suspicious trading by 6 entities in Adani shares before Hindenburg report: SC panel

Tagging the media report, Congress general secretary Jairam Ramesh said in a tweet, “This is now a familiar pattern: two offshore Adani-linked funds appear to have been on the radar of Indian tax authorities since at least 2014, with no action evident other than one or two routine notices for information.”

Referring to the SEBI report that has drawn no conclusion on its probe on wrongdoings of Adani Group, Ramesh asked in his tweet, “Like SEBI, was the otherwise hyperactive Income Tax department also forced to sleep on the job during Mitr Kaal?” Reiterating the Congress demand for a JPC probe, he further said, “That’s why we have been repeatedly saying that only a JPC can unearth where the more than RS 20,000 crore unaccounted funds that were invested in Adani came from.”

The Congress has been alleging that the Adani group has indulged in “financial malpractices” as reported by US-based short seller Hindenburg Research. Hindenburg had made a litany of allegations, including fraudulent transactions and share-price manipulation, which led to the stock crash of Adani group shares.

The Adani group has, however, denied all the allegations and said there has been no wrongdoing on its part.

The Congress had earlier come out with a set of 100 questions on the Adani issue and sought answers from Prime Minister Narendra Modi, asking him to break his silence on the matter.

(With agency inputs)

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