Modi Govt Foils Opposition Attempt to Get Modi-Adani Fraud Case Probed
Modi Govt Foils Opposition Attempt to Get Modi-Adani Fraud Case Probed
Joint Parliamentary Committee (JPC) will not be the right route to catch the culprits in the Modani case because the JPC will be dominated by Modi’s colleagues.
By Rakesh Raman
A foot march by leaders of 18 opposition parties led by Congress was stopped today (March 15) by Delhi Police which did not allow them to approach the Enforcement Directorate (ED) office to file a case against the Adani Group.
The opposition parties accuse prime minister (PM) Narendra Modi of complicity in the alleged financial crimes of Indian oligarch Gautam Adani who is in news for a series of alleged corporate frauds.
A recent investigative report of Hindenburg Research accused Adani of commiting one of the biggest corporate frauds in the world. In the report released in January, Hindenburg said that the Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.
Since Modi is not answering opposition questions in parliament on the Adani issue, the opposition leaders decided to file a formal complaint at the ED office in Delhi so that a criminal investigation could be launched against Adani and his nexus with Modi.
When the heavy police force deployed by the Modi government did not allow the opposition leaders to submit their complaint at the ED office, Congress says it has emailed the complaint letter signed by opposition members to the ED.
The 4-page complaint letter dated March 15 alleges that the Adani Group has established a network of offshore shell companies and offshore funds to artificially inflate its stock valuations and commit other frauds including money laundering.
It is also believed that Modi has been helping Adani clandestinely with huge public money raised through dubious government schemes such as the PM-CARES Fund that Modi launched secretly and the corruption money made in the controversial Rafale deal to buy Rafale fighter aircraft.
Like the ongoing Adani case, these cases were not probed properly as the complicit courts refused to order investigation into these cases of malfeasance and the investigating agencies do not take any decision that may displease Modi.
Also, the China connection in the Modani (portmanteau for Modi and Adani) case cannot be ruled out. A March 2, 2023 report reveals that Adani’s business empire is deeply connected with China, as an entity related to the Adani Group financially supported a company that violated sanctions imposed by the United Nations Security Council (UNSC) on trade with North Korea.
According to the report, the sanctioned company was owned by sons of Chang Chung-Ling, an Adani Group associate who appeared in the Hindenburg report for his directorship of Adani entities.
Therefore, Congress and other opposition parties should demand a probe into Modi’s secret relations with China as it is believed that the Chinese occupation of the Indian territory is part of a secret deal to sell the Indian land to China in order to raise money for Adani’s businesses.
It is alleged that in quid pro quo deals, Adani also helps Modi financially to win elections with his money secretly paid through electoral bonds. As the Supreme Court of India mostly colludes with the Modi government, it is not taking a decision to bring transparency to political campaign financing with electoral bonds.
While the Supreme Court often dishonestly rescues the Modi government from such crises, on March 2 the top court formed a perfunctory committee which is expected to exonerate the embattled Adani Group from all the alleged financial frauds reported by credible global agencies and media organizations.
The opposition parties are demanding an investigation into the Adani Group’s dubious business deals by a Joint Parliamentary Committee (JPC). But the JPC will not be the right route to catch the culprits in the Modani case because the JPC will be dominated by Modi’s colleagues.
Leaders and MPs of 16 like-minded Opposition parties were prevented from walking to ED’s office this afternoon to handover their letter of complaint asking for an investigation into the Adani Scam. This is the letter, which has been emailed to ED. pic.twitter.com/9sAbBkFjJH
— Jairam Ramesh (@Jairam_Ramesh) March 15, 2023
The opposition leaders and the workers in opposition parties should hold constant street protests to get their complaints against Adani Group registered with the Indian law-enforcement agencies.
Simultaneously, they should explore the international political and judicial forums to get this case of grand corruption investigated and prosecuted.
By Rakesh Raman, who is a national award-winning journalist and social activist. He is the founder of the humanitarian organization RMN Foundation which is working in diverse areas to help the disadvantaged and distressed people in the society. He has also launched the “Power Play: Lok Sabha Election 2024 in India” editorial section to cover the news, events, and other developments related to the 2024 election.
