AAP MP Sanjay Singh attacks Adani, says, ‘Indian investors were looted…’

AAP MP Sanjay Singh attacks Adani, says, 'Indian investors were looted...'

After the Hindenburg report, now the Organized Crime and Corruption Reporting Project (OCCRP), a group of investigative journalists, has made a big allegation against the Adani Group. AAP’s Rajya Sabha member Sanjay Singh on Thursday, citing the OCCRP report, said that by opening fake companies abroad, thousands of crores of rupees were invested in Adani’s companies, the share price was increased and Indian investors were looted. Chinese businessman Chang Chung Ling and UAE’s Nasir Ali had opened these fake companies in tax havens Mauritius and Bermuda and along with Gautam Adani’s brother Vinod Adani, sent India’s money abroad.

Sanjay Singh said that after this Vinod Adani’s Excel company advised his companies to invest money in Gautam Adani’s companies based in India. He said that even before 2014, SEBI was aware of Adani’s corruption worth thousands of crores. Despite this, she is trying to throw dust in the eyes of the Supreme Court. Therefore, the Supreme Court should take strict action by taking cognizance of the OCCRP report.

Senior Aam Aadmi Party leader and Rajya Sabha member Sanjay Singh and AAP spokesperson Reena Gupta made a big revelation in a press conference on Adani’s corruption at the party headquarters on Thursday.

He said that in the January 2023 Hindenburg report, huge economic corruption of Adani’s companies was revealed. Adani had done a big scam by colluding with fake companies made abroad. After that, the opposition demanded an inquiry into Adani’s companies in Parliament. Lakhs of crores of rupees have been invested in Adani’s companies through fake companies made abroad. Shares of Adani companies have been increased through fraudulent means. That means the actual value of Adani’s companies was not that much. Despite this, the share prices of Adani’s companies in India were fraudulently increased by investing money from outside and investors from India bought Adani’s shares at inflated prices.

Sanjay Singh further said that after Hindenburg’s revelations, Adani’s shares fell suddenly and all the money of the investors was lost. After this the Supreme Court constituted an expert committee. SEBI is also investigating.

Rajya Sabha member Sanjay Singh said that SEBI was entrusted with the responsibility of probing economic corruption. It is very surprising that SEBI is well aware that Adani has committed corruption in this matter. Even after this, the work of throwing dust in the eyes of the Supreme Court is going on. SEBI went to the Supreme Court and said that the expert committee is hitting a wall. If SEBI investigates it, there will be no limit to its target. On whose advice did SEBI throw dust in the eyes of the Supreme Court and why did it mislead? Because this is a big matter. The Supreme Court should take this into consideration. This has been disclosed by some people associated with the investigative journalism Organized Crime and Corruption Reporting Project (OCCRP).

Rajya Sabha member Sanjay Singh said that investigative journalists have revealed that these people, along with Gautam Adani’s brother Vinod Adani, were investing money in India by forming fake companies against SEBI rules and this is a direct case of money laundering. Money from India used to go abroad, money from abroad used to come into Adani’s companies and the shares of Adani’s companies were increased and the people of India used to buy the increased shares. When this corruption was exposed in the Hindenburg Report, Adani’s companies suffered a loss of about Rs 5 lakh crore. SEBI itself said that small investors lost about Rs 22 thousand crores. LIC had also bought shares of Adani’s companies by investing Rs 36 thousand crores and after the Hindenburg report, LIC suffered a loss of Rs 16 thousand crores.

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