Delhi News

On SC ruling on Adani row, Congress says any committee other than JPC an exercise in legitimisation, exoneration

THE SUPREME Court’s direction to the SEBI to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures did not enthuse the Congress, which asserted that only an investigation by the Joint Parliamentary Committee can bring out the truth and industrialist Gautam Adani’s relationship with the Prime Minister.

The party said it would continue to raise the demand in Parliament when it reconvenes on March 13. “If the Prime Minister and his government are to be held accountable, any committee other than a JPC will be nothing but an exercise in legitimization and exoneration,” Congress communication head Jairam Ramesh said.

He said the probe by a SEBI committee will be limited to violation of the regulator’s laws and regulations and issues like investor protection but the Adani issue is much more than that. “The Supreme Court committee is only of limited relevance in the context of what this controversy is all about,” he said.

“In the Adani case, the Supreme Court committee is limited only to the investigation of violations of SEBI law and regulation. The truth of what has been the relationship between Prime Minister Modi and (Gautam) Adani will never come to the fore if JPC is not formed,” he said.

“We are demanding the setting up of a JPC which has powers to procure information from any institution….can summon anyone. The questions that we are asking cannot be answered by an expert committee. Those questions can only be answered by a JPC. Will the Supreme Court committee answer how it is that Mr Adani got the contract for running six airports when the recommendation of the Department of Economic Affairs…was that one bidder should not get more than two airports… Will the Supreme Court committee answer this question?,” he asked.

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