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FinMin stands by 2021 Parl reply that Sebi was investigating Adani Group

Business Standard



As a political row erupted over SEBI telling Supreme Court that it has not been probing the Adani group since 2016, the Finance Ministry on Monday said it stands by its July 2021 written reply in Parliament that had stated that the stock market regulator was investigating some Adani group companies.


After SEBI filed a fresh affidavit with the Supreme Court to strengthen its case for a six-month extension of the deadline to complete the probing allegations of fraud and money laundering against Adani Group, Congress and other opposition parties cited the finance ministry’s July 2021 replies in Parliament to ask who was misleading.


“The government stands by its reply in Lok Sabha on 19th July 2021 to Q. No. 72, which was based on due diligence and inputs from all concerned agencies,” the Finance Ministry tweeted.


This was in response to Congress spokesperson Jairman Ramesh posting a screenshot of the written reply made by Minister of State for Finance Pankaj Chaudhary on July 19, 2021.


In the reply, the Minister stated that “SEBI is investigating some Adani Group companies with regard to compliance with SEBI regulations. Further, the Directorate of Revenue Intelligence (DRI) is investigating certain entities belonging to the Adani Group of companies under laws administered by it.


He had gone on to state that Enforcement Directorate was not carrying out any investigation and that “SEBI had vide order dated January 16, 2016, directed depositories to freeze particular beneficiary accounts of certain foreign portfolio investors including Albula Investment Funds, Cresta Funds Ltd and APMS Investment Ltd.


The damning January 24 report of US short seller Hindenburg had alleged that some of these funds based out of Cyprus and Mauritius were proxies of Adani’s that were used to manipulate stock markets and funnel money.


Adani Group has denied all allegations.


On petitions seeking probe into the allegations, the Supreme Court had asked SEBI to wind up its probe against the Adani Group in two months. That deadline ended earlier this month and SEBI sought six more months to complete the probe.


Petitioners however contested that SEBI had been probing Adani group since 2016 and shouldn’t be given a six-month extension.


In rejoinder to the petitioners, SEBI in a fresh affidavit on Monday said that the allegations that it “is investigating Adani since 2016 is factually baseless”.


SEBI however did not say since when it was probing the Adani group.


“Now SEBI tells the Supreme Court that they have not been investigating any of the serious allegations against Adani! Which is worsemisleading Parliament, or being fast asleep as lakhs of investors are duped by alleged money laundering and round-tripping using offshore shell companies? Or even worse, was there a restraining hand from above?” Ramesh tweeted.


Priyanka Chaturvedi, Rajya Sabha MP from Shiv Sena-UBT, tweeted: “So, SEBI denies any investigation into Adani companies since 2016, denies its own statement to the court? Was the junior finance minister lying to the country regarding the investigation in his answer on 19 July 2021? This smells of a cover-up but at whose behest?

“If what SEBI saying to the court is correct, goes to prove that Adani Group has almost been given a free rein to manipulate markets through offshore companies since 2014 and with the regulatory body turning a blind eye to the illegalities. What a shame, again I repeat, only a JPC can uncover the extent of damage. Also the exposure of banks, LIC, EPFO in the group. Public loss for private gain, at whose behest?” she asked.


She even raised doubts at SEBI using a junior employee to file the affidavit.


“Wow. A 22-year-old has been hired by @SEBI_India to file an affidavit in the Supreme Court on their behalf! Must be either super experienced from kindergarten days to file such replies or naive enough to be part of something as big as this,” she said in another tweet.


The SEBI affidavit was filed by one Satyanshu Maurya, who said he was presently working as an Assistant Manager in the Securities and Exchange Board of India (SEBI).


TMC leader and MP Mahua Moitra, who has been leading the tirade against the Adani group and who had put the July 19, 2021 questions, hasn’t yet commented on the issue.


She had however last week warned of Adani being allowed to raise funds through share sale before a probe is completed.


“Let me tell @Sebi_india loud & clear that we will raise Cain if Adani allowed to raise even a rupee of equity without investigation being completed,” she had tweeted on May 12 with ‘#FraudstersBeware’ hashtag.


On May 12, lawyer Prashant Bhushan opposed the plea for the extension of time, saying SEBI was seized of some kind of investigation in the matter since 2016.


SEBI in the fresh affidavit said that the application for extension of time is meant to ensure “carriage of justice keeping in mind the interest of investors and the securities market” since any incorrect or premature conclusion of the case arrived at without full facts material on record would not serve the ends of justice and hence would be legally untenable.


It said the ‘investigation’ referred to in its earlier reply affidavit has no relation and/or connection to the issues referred to and/or arising out of the Hindenburg report.


“The matter referred to in paragraph 5 pertains to the issuance of Global Depository Receipts (GDRs) by 51 Indian listed companies in respect of which investigation was conducted. However, no listed company of the Adani group was part of the aforesaid 51 companies. Pursuant to the completion of the investigation, appropriate actions were taken in this matter.”

It termed as factually baseless the allegation that the SEBI has been investigating the Adani group since 2016 and said, I, therefore, say and submit that reliance sought to be placed on the investigation pertaining to GDRs is wholly misplaced.


Chaudhary in the July 19, 2021 reply to the Lok Sabha also mentioned of the GDRs.


“In a matter pertaining to issuances of Global Depository Receipts (GDR) by certain Indian companies, SEBI vide order dated June 16, 2016, had directed depositories to freeze particular beneficiary accounts of certain FPIs including Albula Investment Ld, Cresta Funds Ltd and APMS Investment Fund Ltd. However, no order in respect of other beneficiary accounts of these three FPIs has been passed by SEBI,” he had said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)



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Parliament: Adani and UK remarks issues stall Parliament yet again; war of words between BJP, Congress gets ugly: Top developments | India News



NEW DELHI: Several opposition party leaders on Tuesday held a protest in the corridors of Parliament and raised slogans demanding a Joint Parliamentary Committee (JPC) probe into the Adani issue, even as the BJP accused the opposition MPs of repeatedly insulting Rajya Sabha Chairperson Jagdeep Dhankhar and stalling the parliamentary process.
Both houses of Parliament adjourned early amid uproar over the Adani issue and demand by ruling party members that Rahul Gandhi apologise for his ‘democracy in danger’ remarks.

The opposition leaders also hung a banner that read “We want JPC” from the first floor of the Parliament building.
The House will meet again on March 23.
TMC MPs held a separate protest in the Parliament complex and demanded that Prime Minister Narendra Modi break his silence on the Adani issue.

Both Lok Sabha and Rajya Sabha have failed to transact any significant business so far due to the impasse during the second part of the Budget session of Parliament that started on March 13.
Here are the top developments:
Irresponsible Opposition wilfully stalling Parliament: Piyush Goyal
Union minister Piyush Goyal on Tuesday accused the Opposition of willfully stalling Parliament with its “irresponsible” comments and “unfounded” allegations to mislead the country amid global recognition of Prime Minister Narendra Modi’s leadership.

Goyal, joined by Parliamentary Affairs Minister Pralhad Joshi, accused the Opposition of repeatedly insulting Rajya Sabha Chairperson Jagdeep Dhankhar by refusing to even meet him.
Even on Tuesday, some parties including the Congress did not attend the meeting called by him. Though they were present in the meeting called by Speaker Om Birla, he alleged.
Kharge stopped from speaking: Congress
The Congress hit back at Goyal and said that the Leader of the House got “his MPs to prevent the Leader of Opposition in Rajya Sabha Mallikarjun Kharge from speaking twice after the Chairman had permitted him”.

“Piyush Goyal is accusing Oppn of boycotting meeting called by Chairman RS. This is from the Leader of the House who got his MPs to prevent LoP Kharge ji from speaking twice after Chairman had permitted him. Silencing of LoP is also an issue quite apart from the JPC on Adani,” Congress general secretary Jairam Ramesh said on Twitter.
In another tweet, Ramesh said, “How can the Oppn demand for a JPC into the PM-linked Adani scam be linked to the BJP’s demand for an apology from Rahul Gandhi on totally baseless accusations. The JPC is on a real, documented scam. The apology demand is a hoax being raised to divert attention from the Adani scam.”
Ramesh said this morning Leader of the Opposition in Rajya Sabha, Kharge was given permission by the Chairman to speak and got up to do so but was not allowed by sloganeering BJP MPs. “Chairman then adjourned RS. How can the logjam be broken if Modi Government behaves like this,” he said.
Rahul present-day Mir Jafar: BJP
BJP leader Sambit Patra hit out at Congress MP Rahul Gandhi and said that he is the “present-day Mir Jafar” of Indian Polity and said that he has to apologise for his remarks in the UK.
Mir Jafar was a military general who betrayed Siraj ud-Daulah and helped the East India Company in the battle of Plassey in June 1757. Siraj was captured soon thereafter and later executed.
“He always defames the nation. He is the present-day Mir Jafar of Indian Polity,” Patra said, adding: “He insulted the country and ask the foreign power to intervene in the country. This is a consistent ‘conspiracy’ of Congress and Rahul Gandhi. His participation is least in Parliament and he says that no one allows him to speak.”
Patra further said: “Mir Zafar did the same thing, he gave 24 Parganas to get help from East India Company and now Rahul is doing the same kind of politics.”
“He is asking for help from foreign countries to become ‘Sahzada’ in India, Patra added.
Further, attacking Gandhi on his remarks of saying ‘unfortunately I’m an MP,’ Patra said, “Rahul Gandhi doesn’t know what to say. He speaks only with the help of Jairam Ramesh. He himself said that ‘unfortunately I am an MP”.
Criticising government is not criticising the nation: Congress
Congress leader Pawan Khera on Tuesday slammed BJP leader Sambit Patra after the latter compared Rahul Gandhi with Mir Jafar and said that he would soon get a “strong answer”.

While talking to the mediapersons, Khera said, “Criticizing government is not criticizing the nation. Government should understand this. The debate does not make democracy weaken instead it strengthens it. The government is doing this drama because they are trying to escape the opposition’s questions.”
“They are worried that Rahul Gandhi might again ask the PM about his relations with Adani. There is no JPC probe yet, this is the reason they are creating so much drama,” he added.
He added, “He will get a strong answer soon. We are also learning from them (BJP) how to give answers. Soon action will be done on his statement.”
Taking a barb at the BJP, he said the party will be seen as “Jai Chands” in history and claimed its ideological forefathers were known apologisers of the British.
A fictional account of King Jayachandra (aka Jaichand) occurs in a legendary text

Prithviraj Raso

.
The epic poem was likely written centuries after his death. According to this account, he was a rival of King Prithviraj Chauhan.
His daughter Samyukta eloped with Prithviraj against his wishes, and he allied with the foreign non-Hindu Ghurids to ensure Prithviraj’s downfall.
The name “Jaichand” became synonymous with the word “traitor” in folklore of northern India because of this legend.
Rahul writes to Lok Sabha Speaker
Congress leader Rahul Gandhi has asserted that he has the right to respond in Parliament to the “totally baseless” and “unfair charges” hurled at him by senior ministers in the Lok Sabha over his democracy remarks.
In a letter to Lok Sabha Speaker Om Birla, Gandhi invoked Rule 357 which allows for “personal explanations” and also cited the example of BJP MP and then minister Ravi Shankar Prasad, who invoked the Rule to give an explanation regarding comments made by Jyotiraditya Scindia in relation to him in Parliament

“I am making such a request again. I am seeking this permission under the conventions of Parliamentary practice, the constitutionally embedded rules of natural justice and Rule 357 of the Rules of Procedure and Conduct of Business in Lok Sabha,” he said in his letter to the Speaker.
The Congress leader said members of the ruling regime have made “scurrilous and defamatory claims against me” both within and outside Parliament.
“As a result of these allegations, and the rules invoked by these individuals, it is only appropriate that you kindly allow me a right to reply as contained in Rule 357 which allows for ‘personal explanations’,” he said.

Gandhi’s democracy remarks have triggered a massive political row, with the BJP accusing him of maligning India on foreign soil and seeking foreign interventions and the Congress hitting back, citing instances of PM Modi raising internal politics abroad.
During his interactions in the United Kingdom recently, Gandhi had alleged that the structures of Indian democracy are under attack and there is a “full-scale assault” on the country’s institutions.
TMC holds separate protest
TMC MPs held a separate protest in the Parliament complex and demanded that Prime Minister Narendra Modi break his silence on the Adani issue.
Accusing the government of helping businessman Gautam Adani by not ordering a probe into allegations of fraud levelled against his group, the party demanded that Adani be arrested.
“Adani should be arrested. Modi is trying to protect Adani in the Rs 1 lakh crore scam. This is also the reason why they are not allowing any discussion in Parliament. The TMC leadership has already demanded that the 10 non-BJP states should begin their own probe into this and ensure that public money is not misused,” said TMC Rajya Sabha MP Derek O’Brien.
TMC Lok Sabha MP Sudip Bandyopadhyay demanded an explanation from the prime minister on how public money was used by Adani. “PM Modi should explain this in the House. How LIC-SBI money ended up with Adani,” he said.
Next sitting on March 23
Lok Sabha Chair Rajendra Agarwal wished MPs for various festivals, including Chaitra Sukhladi, Gudi Padwa, Ugadi, Cheti Chand, Navre and Sajibu Cheiraoba.
He also said on the request of several members to enable them to participate in the festivities, the House will not have a sitting on Wednesday and instead it would meet on March 23.
(With inputs from agencies)
Watch Opposition parties protest inside Parliament amid Adani row, demand JPC probe





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Derek O’Brien writes on Government vs Opposition in Parliament: On parliamentary privilege and all else in Indian politics, there are two sets of rules


Privilege motions have been in the news recently. The Union Minister of Communications, Railways, and Electronics and Information Technology, opened himself to a breach of privilege motion when he divulged the details of what transpired in the parliamentary standing committee meeting on the Personal Data Protection Bill. Then there was the case where the Congress MP from Wayanad had a privilege motion moved against him in the Lok Sabha.

A privilege motion was also sought against 12 MPs for supposedly disorderly conduct in the first leg of the Budget Session. A Rajya Sabha MP was suspended and a privilege motion was moved against her because she allegedly recorded proceedings on her smartphone inside the House. As per the Rajya Sabha bulletin published in the public domain, the Rajya Sabha chairman has also sought a privilege motion against an MP from Aam Aadmi Party for a bizarre reason — repeatedly submitting identical notices!

What is a privilege motion? The Constitution guarantees for certain privileges (rights/immunities) to both Houses of Parliament and their members, to allow them to discharge their functions efficiently. When any of these rights/immunities are violated, it amounts to what is known as “a breach of privilege”. Parliament has the right to punish any such breaches by moving a privilege motion.

How is a question of breach of privilege raised? In the Rajya Sabha, a question of breach of privilege can either be raised by an MP or in the rarest of cases, by the presiding officer himself. The question can either be considered by the House or can be referred to the committee on privileges for examination.

It is interesting to flag that out of the 70 reports of the committee on privileges available on the Rajya Sabha website, the question of privilege in 66 cases was raised by MPs. In only four cases did the chairperson refer the matter of his own accord. Contrast this with what has happened in the last one month — the chairperson has referred three questions of privilege to the committee of his own accord.

The bigger question here is, what should Opposition MPs do when their voices are stifled in Parliament? When microphones are muted, when Sansad TV is censored, when sentences and even full paragraphs from speeches are expunged? When representatives of the people are not allowed to raise people’s issues in Parliament, should they act like lambs to the slaughter? Or should they find innovative ways to register their protest?

Here is what two BJP stalwarts and legendary parliamentarians had to say on the subject. Sushma Swaraj: “Not allowing Parliament to function is also a form of democracy, like any other form.” Arun Jaitley: “There are occasions when obstruction in Parliament brings greater benefits to the country. Our strategy does not permit us to allow the government to use Parliament without being held accountable.”

In the first leg of the Budget session in February, the entire Opposition was raising a demand to order an inquiry (some preferred a joint parliamentary committee (JPC), a few others a Supreme Court monitored probe) into LIC-SBI funds being at risk because of their exposure to Adani companies. Perfectly legitimate parliamentary tactic. How justified is it to now seek a privilege motion against the protesting MPs?

As per earlier reports (2009 and 2014) of the committee on privileges, such “disruptions” do not fall under the purview of parliamentary privileges. The committee found that the intention of the members disrupting was not to prevent any other member from speaking or to question the authority of the chair. It was, in fact, to express their discontent over a particular issue in which their opinion was not being taken note of by the Union government.

Now let me address the issue of an MP (the Opposition or treasury benches) resubmitting identical notices on consecutive days. Goodness me. Re-submission of identical notices has been a common practice, a precedent, for decades in both Houses. This is done by a member for multiple reasons. Most notices lapse after a specific period of time and it is the right of a member to resubmit her/his notice. Or, an MP may choose to repeatedly emphasise on a certain issue over a sustained period of time. Totally legit.

Members from the Opposition across the country are brazenly targeted every day by the Modi-Shah government through their agencies like CBI and ED. No one from the BJP ever is. In the same manner, members of the BJP are never subjected to inquiries by the committee on privileges. Ministers in the Modi government are teflon coated. If they weren’t, why wasn’t the Union IT minister served a privilege notice for shooting his mouth off when he was addressing a forum and disclosing classified information. The minister claimed that Parliament’s standing committee on communications and information technology had examined the Bill and given it a “big thumbs up”. Every constitutional authority remained mum.

Even kindergarten Parliament knows that the proceedings of a committee shall be treated as confidential. Anyone who has access to its proceedings should not disclose any information regarding its report or any conclusions arrived at, before the report has been presented to the House.

For parliamentary privileges and all else in Indian politics, there are two sets of rules. One set of rules for members of TMC, INC, SP, DMK, AAP, BRS, SS, RJD, JD(U), NCP, CPI(M). And a different set of rules for the party run by the two most famous members of the Gujarat Gymkhana.

The writer is Member of Parliament and Leader, All India Trinamool Congress Parliamentary Party (Rajya Sabha). Additional research by Ankita Dinkar





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Uproar in Parliament continues on Day 3, BJP plans to keep the heat on Rahul Gandhi


BJP members repeated their demand for an apology from Rahul for his comments, accusing him of insulting India on foreign soil.

Union Minister Piyush Goyal, who was present in Lok Sabha on Wednesday morning, even asked Speaker Om Birla to “fix the responsibility” of Rahul’s “insult to Parliament” on other Congress MPs who were protesting, seeking a Joint Parliamentary Committee (JPC) probe into allegations of stock manipulation, among others, raised in the Hindenburg report on the Adani Group, allegations that the Group has dismissed as baseless.

Sources in BJP said the party wants to keep the heat on Rahul and the Congress even at the cost of Parliament proceedings getting adjourned without transacting any legislative business. “The government has the Finance Bill to be passed, which will happen anyway. There are no key Bills on the agenda. Anyway, almost everyone — in the ruling party and the Opposition — is in election mood,” a party leader said, referring to the coming Karnataka Assembly elections.

Besides the Finance Bill, 35 Bills are pending — 26 of them in Rajya Sabha and nine in Lok Sabha. “But none of them is in the urgent category,” the BJP leader said.

As of now, sources said, Personal Data Protection Bill, the most awaited Bill, was unlikely to come up in this Session. But, according to them, the government wants to take up the Bill if Parliament gets back to normalcy. The Bill is at present with the legal department for vetting and has to be cleared by the Cabinet.

On Wednesday, the BJP stepped up its attack on Rahul outside Parliament, too, with Union minister Smriti Irani addressing a press conference and alleging that the Congress MP’s grudge against Prime Minister Narendra Modi had taken the shape of a grudge against India. Referring to Rahul’s remarks in the UK, Irani alleged that he lamented the “lack of foreign intervention” in India’s democracy “at the feet of India’s colonial past”.

Irani said the “lies that became a foundation of the Congress leader’s conversation in England” are many.

Poll mood evident

The poll mood was evident in the House as soon as the Budget Session resumed on Monday after a break. The ruling party’s MPs were on their feet with the slogan “Rahul Gandhi maafi mango (Rahul Gandhi, apologise)” right from the first day, while Opposition MPs protested, seeking a JPC probe into the alleged stock manipulation by the Adani Group. While Congress, DMK, NCP, Left and BRS members were in the Well of the House, their Trinamool Congress (TMC) counterparts protested standing near their seats.

On Wednesday, as soon as the Lok Sabha assembled, Opposition members stormed into the Well, carrying placards that stated “Save SBI, Save LIC” and shouting slogans, asking the Prime Minister to answer. Counter-slogans were raised from the Treasury Benches, demanding an apology from Gandhi for his remarks on Indian democracy.

As Congress MPs entered the Well, Goyal was heard saying, “This is a serious issue. There has to be strict action on these members (protesting with placards). One member goes abroad and insults Indian Parliament. Until he apologises, the responsibility should be fixed on them (protesting Congress MPs). I wonder if they do not feel insulted by the remarks he (Rahul) made.”

He also said, “Whoever brings placards to the House should be suspended from the House.”

Speaker Om Birla warned Congress MPs against bringing placards to the House. “Please try not to make comments on the House outside this House,” he said. Birla also told the protesting Opposition members, “This House is meant for holding discussions and dialogues. Let’s talk about policy and have a good discussion on issues related to public welfare. If we want people’s welfare and consider this House a temple of democracy, I will request that at least don’t comment on this House (outside).”

As members refused to relent, Birla adjourned the House until 2 pm. When the House resumed, sloganeering continued from both sides, even as Bhartruhari Mahtab, who was in the Chair, kept requesting for order.

Amid the din, MoS (Defence) Ajay Bhatt introduced the Inter-Services Organisations (Command, Control and Discipline) Bill, 2023. The Bill is aimed at empowering the Commander-in-Chief or the Officer-in-Command of Inter-services Organisations in respect of service personnel who are subject to the Air Force Act, 1950; the Army Act, 1950; and the Navy Act, 1957, who are serving under or attached to his command, for maintenance of discipline and proper discharge of their duties.

In the afternoon, Parliamentary Affairs Minister Pralhad Joshi kept up the attack on Gandhi, saying, “We are receiving information and calls from the diaspora across the globe that a member of this House is insulting India…he has cast aspersions on the Speaker… Directly, this is an allegation on the Speaker and the institution (Parliament).”

He also said, “Rahul Gandhi has said that MPs who stand outside Parliament have also been arrested. Where have they been arrested? Saying things like this and inviting other countries to intervene in the affairs of a sovereign country is ghor apmaan (gross insult) of India.”

But instead of seeking an apology for this “gross insult”, Opposition members are bringing placards into the House, he said. “Therefore, action should be taken. This is our demand,” Joshi said. Mahtab subsequently adjourned Lok Sabha for the day.





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Opposition leaders try to march to ED HQ on Adani issue, stopped by police


As the government continued its offensive against the Congress in Parliament and sought an apology from senior Congress leader Rahul Gandhi for his remarks in London, top Opposition leaders and MPs on Wednesday tried to march to the Enforcement Directorate headquarters demanding an inquiry into allegations against the Adani Group. However, they were stopped at Vijay Chowk by the Delhi Police as they came out of the Parliament building.

Opposition leaders said MPs belonging to 18 parties were part of the protest.

The Opposition’s move to march to the ED headquarters from Parliament is seen as an attempt to put the spotlight back on the Adani matter. The Opposition has been alleging that the government’s aggressive attack on Rahul Gandhi was to deflect attention from the “Adani scam”.

Interestingly, the Trinamool Congress (TMC) was not part of the Opposition march. The TMC is also not on board with the Opposition demand for setting up a joint parliamentary committee (JPC) investigation into allegations against the Adani Group and charges of government patronage to industrialist Gautam Adani.

Nationalist Congress Party (NCP) too did not participate in the march.

Among those who led the march include Congress president and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge, Congress leader in Lok Sabha Adhir Rajan Chowdhury, CPI’s Binoy Viswam, CPM’s Elamaram Kareem, DMK’s T R Baalu, Samajwadi Party’s Ramgopal Yadav, AAP’s Sanjay Singh, Shiv Sena’s Sanjay Raut and BRS’s K Keshava Rao.

“All of us are going to the Enforcement Directorate but the government has stopped us. The government does not want us to take out a march. One individual has destroyed the LIC, SBI and other banks. People have deposited their hard-earned money in these institutions with trust. But all their money has been handed over to one person,” Kharge said.

He alleged that the Adani Group has the patronage of the government and Prime Minister Narendra Modi in amassing wealth. “How has it happened? Who is responsible? Who is giving money to him? How he is allowed to make so much money… So we want an inquiry. An inquiry should be held… What is the relationship between the Prime Minister and Adani… Where he goes, he takes him,” Kharge said.

On the police stopping him and the other leaders, Kharge said while the government waxes eloquent about democracy, it has stopped a peaceful protest by Opposition leaders. “We are not jostling around. It is a peaceful protest,” he said.





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‘Couldn’t wake up on time..’: PM Modi quips at Opposition in Parliament


Prime Minister Narendra Modi launched a veiled attack on the Congress while participating in the ‘Motion of Thanks to the President’s Address’ in Lok Sabha on Wednesday. 

New Delhi,UPDATED: Feb 8, 2023 18:01 IST

Prime Minister Narendra Modi was participating in the ‘Motion of Thanks to the President’s Address’ in Lok Sabha on Wednesday. (File photo)

By India Today Web Desk: Prime Minister Narendra Modi launched a veiled attack on the Congress, especially senior leader Rahul Gandhi, stating that people’s mindset is reflected in their speech.

PM Modi was participating in the ‘Motion of Thanks to the President’s Address’ in Lok Sabha on Wednesday.

Beginning his speech at the Lok Sabha, PM Modi first thanked the President of India and said that she guided us and the people of the country in her visionary speech.

Responding to the allegations raised by the Opposition in the Parliament over the past few days, Prime Minister Narendra Modi, without taking names, said “People’s intellect is revealed by their speech. After a speech made yesterday, an entire ecosystem was activated. They were so happy, maybe they slept well and couldn’t wake up (on time).”

Also Read | Joint parliamentary committee should investigate Adani row: BRS MLC K Kavitha

Incidentally, Congress leader Rahul Gandhi, who led a belligerent Opposition attack on the government in Parliament on Tuesday, was absent at the time PM Modi made this comment. Rahul Gandhi later arrived in Lok Sabha as PM Narendra Modi’s speech was underway.

“For them it has been said, ‘Ye keh keh ke hum dil ko behla rahe hain,wo ab chal chuke hain, wo ab aa rahe hain’,” the PM added.

Prime Minister Narendra Modi’s response comes a day after Rahul Gandhi questioned the meteoric rise in industrialist Gautam Adani’s fortunes post 2014, linking it with the formation of the NDA government the same year.

PM Modi’s response was an indirect jibe at the Opposition, led by Rahul Gandhi, who cornered the government, largely over the Adani Group stock rout and allegations of financial irregularities and market manipulation against the energy-to-port conglomerate.

The Opposition has been demanding an inquiry into the allegations levelled by US-based firm Hindenburg on the Adani Group. The opposition parties have alleged that the meltdown in Adani Group shares is a ‘mega scam’ that involves common people’s money as public sector LIC and SBI have invested in them and have questioned the government on steps taken by it.

Edited By:

Raajnandini Mukherjee

Published On:

Feb 8, 2023



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Hum Adani ke Hain Kaun: Congress targets PM Modi over Hindenburg report, minister hits back | India News


NEW DELHI: Both the houses of Parliament were adjourned for the third consecutive day on Monday without transacting hardly any business over the situation having arisen out of the report published by American research organisation and short-seller Hindenburg about the shares of Adani Enterprises Ltd (AEL).

The opposition led by the Congress created pandemonium in both the Lok Sabha and the Rajya Sabha and disrupted the proceedings. This forced the presiding officers of both the houses to adjourn Parliament’s business for another day.
Alleging a scam in the shares of AEL, the opposition has been demanding a probe by a joint parliamentary committee (JPC) into the whole matter.
Parliamentary affairs minister Pralhad Joshi took to Twitter to vent out the government’s sentimets against the opposition, particularly the Congress, over the continued disruption of Parliament.
In a series of tweets, the minister said, “Classic case of sounding more loyal than the king! The facts are – Congress is least interested in letting Parliament run. They are least bothered about pro-people legislation being brought and they detest the historic productivity of Parliament under the Modi government.”

He alleged that In the last nine years, the Congress had disrespected all parliamentary traditions. “Their leaders prefer holidays abroad instead of attending Parliament. They have even insulted the Hon’ble President when most of their top leadership preferred to stay away from her address to both houses.”
Joshi charged the Congress with shying away from letting Parliament run. He said the Congress feared that the government would get praise for a “development-oriented” Budget and which they did not want that to happen. It was better the Congress showed some concern for tax payers’ money and let Parliament function, he said, adding that the issues being raised by the Congress have been spoken about by finance minister Nirmala Sitharaman repeatedly.
Finally, Joshi said, “Today, it is being globally acknowledged that India is a bright spot in the world economy. Congress isn’t able to digest this and thus prefers petty politics.”

The minister was responding to Rajya Sabha MP and Congress’s in-charge of communications Jairam Ramesh’s remarks about the adjournment of Parliament. “Yet again for the third day in a row, the Opposition (was) not allowed to even mention in Parliament its legitimate demand for JPC into PM-linked Adani MahaMegaScam. Adjourned till 2pm. Modi government is simply running away!”
Ramesh retorted to the parliamentary affairs minister. He said, “Surely you can do better than this, Minister avare. Fact is (the) opposition is not being allowed to even mention at 11 am its demand – a JPC into PM-linked Adani MahaMegaScam.”
Meanwhile, Ramesh has launched a campaign called HAHK (Hum Adani ke Hain Kaun) to target the Modi government. He announced that he would be asking three questions to Prime Minister Narendra Modi over the matter. The title of the drive has been derived from a 1994 Salman Khan-Madhuri Dixit starring Bollywood movie Hum Aapke Hain Kaun.
On Sunday, he said, “The eloquent silence of the PM on the Adani MahaMegaScam has forced us to start a series, HAHK – Hum Adani ke Hain Kaun. We will be posing three questions to the PM daily beginning today. Here are the first three. Chuppi Todiye Pradhan Mantriji (Break your silence prime minister).”

Ramesh issued a statement on Sunday and asked the first three questions to the PM. He said in response to the Panama Papers expose on April 4, 2016, the ministry of finance announced that the PM had personally directed a multi-agency investigative group to monitor financial flows to and from offshore tax havens.
Subsequently, Ramesh said, at the G20 summit in Hangzhou, China on September 5, 2016, the PM stated: “We need to act to eliminate safe havens for economic offenders, track down and unconditionally extradite money launderers and break down the web of complex international regulations and excessive banking secrecy that hide the corrupt and their deeds.”

“Investigation should be done” says Congress MP Jairam Ramesh on Adani group stocks

He said this led to some questions that the PM could not hide from. “Vinod Adani, the brother of Gautam Adani, was named in the Panama Papers and the Pandora Papers as someone who operates offshore entities in the Bahamas and the British Virgin Islands. He is alleged to have engaged in ‘brazen stock manipulation’ and ‘accounting fraud’ via ‘a vast labyrinth of offshore shell entities’. You have spoken often about your sincerity and ‘niyat’ in fighting corruption and even subjected the nation to the heavy costs of demonetisation. What does the fact that a business entity you are well acquainted with faces serious allegations tell us about the quality and sincerity of your investigations?” Ramesh’s first question said.
His second question said: “Over the years you have misused agencies like the Enforcement Directorate, Central Bureau of Investigation and the Directorate of Revenue Intelligence to intimidate your political opponents and to punish business houses that do not fall in line with your cronies’ financial interests. What action has been taken, if ever, to investigate the serious allegations made over the years against the Adani Group? Is there any hope of a fair and impartial investigation under you?”
In the third question, the Congress MP said, “How is it possible that one of India’s largest business groups, one that has been allowed to build monopolies in airports and seaports, could have escaped serious scrutiny for so long despite persistent allegations? Other business groups have been harassed and raided for much less. Was the Adani Group essential to a dispensation that has profited from ‘anti- corruption’ rhetoric all of these years?”
On Monday, the head of Congress’s media again asked three questions to the PM, calling it HAHK-2.

His first question said, “Your government has a track record of bailing out failing disinvestments such as IDBI Bank, New India Assurance and General Insurance Corporation using LIC funds. It’s one thing to bail out public sector companies and quite another to use the savings of 30 crore loyal policy- holders to enrich your friends. How did LIC make such a heavy allocation to the risky Adani Group that even private fund managers had steered clear of? Is it not the duty of the government to ensure that vital public sector financial institutions are more conservative in their investments than their private sector counterparts? Or was this another case of your ‘Mann Ki Banking’ to benefit your cronies?”
In the second question, the Congress general secretary said, “The allegations of fraud and money-laundering against the Adani Group have been known for some time. There have been many questions over who are the ultimate beneficial owners of major funds investing in the Adani Group. There have been as many as four major fraud investigations including one by the Securities and Exchange Board of India (SEBI) into the true ownership of its offshore investors. Given this knowledge, did anyone in the Prime Minister’s Office, ministry of finance or the LIC itself raise any concerns about these questionable investments? Were such concerns overruled and, if so, by whom?”

Adani row: Opposition parties hold protest inside Parliament premises, demand JPC probe

Ramesh’s final question said, “After the first selloff following the Hindenburg allegations, the value of Adani Group stocks held by LIC fell by Rs 32,000 crore, bringing the value of those holdings to Rs 56,142 crore on January 27, 2023 by LIC’s own admission. Since then several Adani infrastructure stocks have further crashed by another 50%. Will you share the true extent of LIC’s losses from its Adani investments after January 24? The listed price of LIC itself has fallen by 14% in the last two weeks compared with a dip of 2% in the Nifty50 index. As LIC’s misguided Adani investments are eroding the confidence of its 34 lakh retail shareholders, What steps will you take to ease their concerns?”
While the government has not responded to these questions yet, the opposition led by the Congress is unlikely to allow the ongoing budget session to function to press for its demands for a JPC into the AEL controversy.





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Minister Bhupender Yadav: Opposition behaving irresponsibly in House


Union Minister for Environment, Forest & Climate Change Bhupender Yadav Sunday said the Opposition was working in an “irresponsible manner” in Parliament.

Yadav said the Opposition first gets time allotted for the discussion in the House and later runs away from debate.

Speaking to reporters at the Bharatiya Janata Party’s (BJP) headquarters in Lucknow, Yadav said the government wants the House to function but the Opposition does not want to let it operate smoothly.

The Union minister made the remarks while answering a question on Opposition parties’ demand for a debate on the high exposure of public financial institutions like Life Insurance Corporation (LIC) to the Adani group, and the impact following the Hindenburg report alleging round-tripping of money by the group.

“They (Opposition) themselves have stalled the House. Why does the Opposition not let Parliament function? The government has always said that Parliament should function. And, the time allotment for the Business Advisory Committee of Rajya Sabha was done in the presence of the Opposition. When they get allotted time in the Business Advisory Committee for a debate in the House, they run away from debate which shows how irresponsibly the Opposition works,” Yadav said.





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Parliament Budget session February 3, 2023


Talking about the Opposition parties’ meeting at LOP Mallikarjun Kharge’s office, senior Congress leader and party’s media in-charge, Jairam Ramesh, said, “Floor leaders of Opposition parties will be meeting at 10 am in chamber of LoP Kharge ji in Parliament House to coordinate strategy. The demand remains the same. Only an independent investigation will save LIC, SBI and other institutions forced by PM to invest in the Adani Group.”



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Both Houses of Parliament stalled over Adani controversy, joint opposition demands probe | India News



NEW DELHI: Both Houses of Parliament were adjourned without transacting any business on Thursday over the Adani controversy with a combined Opposition seeking a probe by a Joint Parliamentary Committee (JPC) or an SC-monitored panel into the massive slide in the company’s stocks in the wake of allegations of fraud.
The parties accused the government of forcing LIC, SBI and other public institutions to invest in the Adani group “which has endangered the savings of crores of Indians”.
Lok Sabha and Rajya Sabha were adjourned without proceedings after the opposition’s demand for suspension of business to discuss the issue was rejected in the two Houses.
Leading a group of like-minded parties at a press conference later, Congress president Mallikarjun Kharge said, “Keeping public interest in mind, we want a thorough probe… There should also be day-to-day reporting of the investigation on the issue.”
The plan to put the Adani row at the centre of House proceedings was devised at a meeting held in Kharge’s chamber in the morning as also in the strategy group meeting of Congress. The parties agreed to jointly raise the issue in Parliament. Coordination among opposition parties started on Wednesday night, soon after a message from Kharge to floor leaders for Thursday’s meeting.
Sources said the strategy on how to take forward the protest is proving to be tricky as the Houses cannot be disrupted for long in view of the important business of ‘Motion of Thanks’ to the President’s address and discussion on the Union budget.
The parties decided that the issue will be picked up during the debate on the ‘Motion of Thanks’. “It was also decided that no other issue will be brought up lest it provides the treasury benches to run away from the discussion,” said TMC floor leaders Sudip Bandopadhya (LS) and Derek O’Brien (RS).
“We have only decided the strategy for this week, and will meet again on Monday,” an opposition leader said.
Besides the Adani issue, the Opposition has a consensus on raising three other issues — the BBC documentary controversy, Chinese aggression and attacks on the judiciary. Among the parties that attended the discussions were DMK, TMC, SP, RJD, JDU, Shiv Sena, CPM, CPI, NCP, IUML, National Conference, AAP, Kerala Congress and Bharat Rashtra Samithi.
“Opposition leaders are being harassed for no reason by ED, CBI. Why is the government (Centre) not taking action against the perpetrators of such a monumental scam so that they do not flee this country?” O’Brien said.
SP’s Ram Gopal Yadav said there was panic among people because of bad investments of their savings. “People thought their money was safe in public sector banks and institutions,” he said.





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