After signing multi-crore worth deals in Davos, Telangana CM protests against Adani

Months after signing four memorandums of understanding (MoUs) with the Adani Group for an investment of over Rs 12,400 crore in Telangana, state Chief Minister Revanth Reddy has joined the Congress party’s protest against Gautam Adani and his companies, demanding a Joint Parliamentary Committee (JPC) investigation into a “mega scam”.

On January 17, at the World Economic Forum 2024 in Davos, Switzerland, four MoUs were signed between the Adani Group and the Telangana government in the presence of Reddy and Chairman of the Adani Group, Gautam Adani.

Now, seven months later, Reddy has joined the Congress party’s protest against Adani in front of the Enforcement Directorate (ED) office in Hyderabad on Thursday (August 22).

Sharing a video of the protest, Reddy posted on his X (formerly Twitter) handle, “Took part with team @INCTelangana in the protest demanding a JPC investigation into the Adani maha ghotala (mega scam) (sic).”

The Congress has directed all its state units to protest against the BJP-led NDA government demanding an investigation into the allegations raised in a report by US short-seller Hindenburg Research.

Reddy questioned Prime Minister Narendra Modi and Union Home Minister Amit Shah over the alleged irregularities committed by SEBI Chairperson Madhabi Puri Buch.

The Hindenburg report alleged that it suspects SEBI’s unwillingness to act against Adani Group may be because its head Buch had stakes in offshore funds linked to the conglomerate – an allegation slammed by the SEBI head as "baseless" while Adani group said it never had any commercial relations with Buch.

“Gujarat’s Narendra Modi-Amit Shah, Adani-Ambani...have made an evil quartet to rule the country. Even under Modi, SEBI Chairperson Madhabi Puri Buch did not resign over the SEBI scam. Centre did not put JPC on the scam. Crores of workers will support the struggle of Mr. Rahul Gandhi on this and we will take the responsibility of protecting the country’s assets (sic),” Reddy wrote in Telugu on his X account.

He also attacked the BRS party. “Why is BRS not responding to SEBI scam? We have no objection if BRS merges with BJP...dirty... What is the stand of BRS on SEBI scam?”

Reacting to Reddy’s protest against Adani, BRS leader KT Rama Rao termed it “biggest joke of the year”.

“Irony just committed suicide !! Revanth Reddy & Co protesting against Adani has to be the biggest joke of the year. You invite him, embrace him, sign MoUs, offer incentives, let him make money and then have the gall to protest/accuse him of being a fraud !! Either you Congress guys are suffering from a split personality disorder or you’re delusional to think you can fool India with this charade,” Rama Rao wrote on his X account.