Congress demands JPC probe into Adani’s transactions

The Congress alleged that the Supreme Court-appointed expert committee and the SEBI
have “hit walls” while investigating the Adani group’s transactions and stressed the need for a joint parliamentary committee probe to unravel the truth in the matter. The Congress’ assertion comes after a report by the Supreme Court-appointed expert committee said it has found no evidence of stock price manipulation in Adani group companies, while a separate SEBI probe into alleged violation in money flows from offshore entities has “drawn a blank.” Taking to Twitter, Congress general secretary Jairam Ramesh tagged a media
report which claimed that the Registrar of Companies (Gujarat), in a ruling earlier this month, has held that Adani Power and its officials had violated provisions of the Companies Act, 2013, by not reporting related-party contracts and transactions in the register
of contract. “As the Modani brigade desperately tries to spin the Supreme Court Expert Committee’s report as a ‘clean chit’ (it isn’t), more evidence emerges that Adani has engaged in multiple related-party transactions aimed at duping minority shareholders and unfairly enriching the promoters,” Ramesh said.