Congress Accuses Adani Group of ‘Cover-Up’; Demands Strict SEBI Action

NEW DELHI, Dec 4, 2024: The Congress party has raised alarms over a potential “cover-up” after reports emerged that entities connected to the Adani Group are in talks with the Securities and Exchange Board of India (SEBI) to settle accusations of violating public shareholding norms. These violations allegedly involve unfair practices across four major Adani companies, including Adani Enterprises, Adani Power, Adani Energy Solutions, and Adani Ports.

Congress general secretary Jairam Ramesh has strongly criticized the move, arguing that any settlement would undermine the credibility of Indian institutions already tarnished by the Adani Group’s actions. Ramesh demanded that SEBI take strict action, including arrests and raids by investigative agencies, to address the alleged violations. He also accused SEBI chairperson Madhabi Puri Buch of conflicts of interest due to her investments in offshore funds linked to these violations.

This latest development follows a broader controversy surrounding the Adani Group, with accusations of bribery and money laundering. The Congress party continues to call for a thorough parliamentary probe into these allegations, which have intensified following reports of illegal activities linked to Adani entities.

Source: Web Team, C6N