Hum Adani ke Hain Kaun: Congress Targets Prime Minister Modi Over Hindenburg Report, Minister Responds | News from India

NEW DELHI: Both houses of Parliament were adjourned for the third day in a row on Monday with almost no deals due to the situation emerging from the report published by the American research organization and short seller Hindenburg on the shares of Adani Enterprises Ltd (AEL).

The opposition led by Congress created pandemonium in both the Lok Sabha and the Raja Sabha and halted the proceedings. This forced the presidents of both chambers to adjourn the proceedings of Parliament for another day.
Claiming fraud in AEL’s shares, the opposition called for a Joint Parliamentary Committee (JPC) investigation into the whole matter.
Minister for Parliamentary Affairs Pralhad Joshi he took to Twitter to vent the government’s feelings against the opposition, especially Congress, over the continued disruption of Parliament.
In a series of tweets, the minister said: “Classic case of looking more loyal than the king! The facts are: Congress is less interested in letting Parliament run. They are less concerned about pro-people legislation and hate the historic productivity of Parliament under the Modi government.”

He said that for the past nine years, Congress has disrespected all parliamentary traditions. “Their leaders prefer holidays abroad instead of going to Parliament. They even insulted the Honorable President when most of their top leaders preferred to stay away from his speech to both houses.
Joshi accused Congress of avoiding running Parliament. He said Congress feared the government was getting praise for a “development-oriented” budget and that they didn’t want that to happen. It would have been better for Congress to show some concern for taxpayer money and let Parliament run it, he said, adding that the issues raised by Congress were discussed by the finance minister Nirmala Sitharaman repeatedly.
Finally, Joshi said, “Today it is globally recognized that India is a bright spot in the world economy. Congress cannot stomach this and therefore prefers petty politics.

The minister responded to remarks by Jairam Ramesh, Rajya Sabha MP and Congress Communications Officer, on the Parliament update. “Again for the third consecutive day, the opposition (was not allowed) to even mention in Parliament its legitimate JPC claim in Adani MahaMegaScam related to PM. Updated at 14:00. The Modi government is simply running away!”
Ramesh replied to the parliamentary affairs minister. He said, “Surely you can do better, Avar Minister. The fact is that (the opposition) is not even allowed to mention his request at 11:00 AM JPC in Adani MahaMegaScam linked to PM.
Meanwhile, Ramesh has launched a campaign called HAHK (Hum Adani ke Hain Kaun) to target the Modi government. He announced that he would ask Prime Minister Narendra Modi three questions on the matter. The title of the drive was derived from a 1994 Salman Khan-Madhuri Dixit starring Bollywood film Hum Aapke Hain Kaun.
On Sunday, he said, “The Prime Minister’s eloquent silence about the Adani MahaMegaScam forced us to start a series, HAHK – Hum Adani ke Hain Kaun. Starting today, we will be asking the Prime Minister three questions every day. Here are the top three. Chuppi Todiye Pradhan Mantriji (Break the Silence Prime Minister).”

Ramesh released a statement on Sunday and asked the prime minister the first three questions. He said that in response to the Panama Papers complaint of April 4, 2016, the finance ministry announced that the prime minister had personally headed a multi-agency investigative team 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 prime minister said, ‘We must act to eliminate safe havens for economic criminals, unconditionally trace and extradite money launderers and bring down the web of complex international regulations and excessive bank secrecy that hide the corrupt and their actions”.

He said this led to some questions the PM could not hide from. “Vinod Adani, the brother of Gautam Adani, has been named in the Panama Papers and the Pandora Papers as someone who manages offshore entities in the Bahamas and the British Virgin Islands. He is alleged to have engaged in “brazen stock manipulation” and “accounting fraud” through “a vast maze of offshore shell entities”. You have often spoken of your sincerity and ‘niyat’ in fighting corruption and have even subjected the nation to the heavy costs of demonetization. What does it tell us about the quality and sincerity of your investigations that a corporate entity you know well is the subject of serious allegations?” Ramesh’s first question asked.
His second question read: “Over the years, have you abused agencies such as the Enforcement Directorate, the Central Bureau of Investigation and the Directorate of Revenue Intelligence to intimidate your political opponents and to punish business houses that are not in line with the financial interests of your cronies.. What actions, if any, have been taken to investigate the serious allegations leveled against the Adani Group over the years? Is there any hope of a fair and impartial investigation under you?
In the third question, the congressman said, “How is it that one of India’s largest business groups, one that has been allowed to build monopolies at airports and seaports, could have escaped serious scrutiny for so a long time despite the constant accusations? Other business groups have been harassed and looted for far less. Was the Adani Group essential to a dispensation that has taken advantage of the ‘anti-corruption’ rhetoric all these years?
On Monday, the congressional media chief again asked the prime minister three questions, calling it HAHK-2.

Here is today’s set of 3 questions for the Prime Minister, HAHK-2 (Hum Adanike Hai Kaun) so to speak. The silence of him I… https://t.co/To6sucgx5A

— Jairam Ramesh (@Jairam_Ramesh) 1675675650000

His first question read, “Does your government have a track record of bailing out failed divestments like IDBI Bank, New India Assurance and General Insurance Corporation using LIC funds. It is one thing to bail out public sector companies and quite another to use the savings of 30 crores of insured loyalists 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? Isn’t it the government’s duty to ensure that vital public sector financial institutions are more prudent in their investments than their private sector counterparts? Or was it another case of your ‘Mann Ki Banking’ for the benefit of your cronies?
In the second question, the Congress Secretary General said, “The allegations of fraud and money laundering against the Adani Group have been known for some time. There have been many questions about who are the ultimate beneficiaries of the main 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 real estate of its offshore investors. Given this knowledge, has anyone in the Prime Minister’s Office, Ministry of Finance or the LIC itself raised concerns about these questionable investments? Were those concerns quashed, and if so, by whom?

Adani quarrel: Opposition parties hold protest inside Parliament premises, call for JPC investigation

Ramesh’s last question read, “After the first sell-off following Hindenburg’s allegations, the value of Adani Group shares held by LIC decreased by Rs 32,000 crore, bringing the value of those holdings to Rs 56,142 crore on 27 January 2023 by LIC’s own admission. Since then several Adani infrastructure stocks have further tumbled another 50%. Will you share the true extent of LIC’s losses from its investments in Adani after January 24? The list price of the LIC itself is down 14% in the past two weeks compared to a 2% drop in the Nifty50 index. As LIC’s ill-advised 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 yet to respond to these questions, the Congress-led opposition is unlikely to allow the running of the current budget session to push its JPC demands into the AEL dispute.