Arunachal Congress seeks JPC investigation into allegations against Adani group

The opposition Congress in Arunachal Pradesh on Friday demanded investigation by a Joint Parliamentary Committee (JPC) into the allegations against the Adani group.
    
Addressing a press conference here, state Congress vice-president Mina Toko said the allegations levelled by the Securities Exchange Commission (SEC) of the US against the group were serious in nature.
    
"It is evident that institutions tasked with investigating white-collar crimes, such as SEBI, CBI and ED, have not only failed to investigate Adani despite credible allegations but have also seen their few investigations halted by orders from higher authorities," she alleged.
    
"Instead, these agencies have been misused to facilitate Adani's acquisitions of airports, ports, media companies, and cement plants. They have also been used to target opposition politicians, dismantle opposition parties, and imprison opposition chief ministers," she claimed.
    
The entire episode has posed a great risk to 10 crore Indians who have invested in the stock market, she said.

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Toko's remarks came in the wake of serious allegations from US prosecutors, who have accused the Adani Group of bribing Indian officials with more than USD 250 million (Rs 2,100 crore) to secure favourable terms for solar-power contracts.
    
According to the US Department of Justice, these alleged bribes were concealed from American banks and investors who funded the Adani Group's projects.
    
The Adani Group has dismissed the allegations as baseless, emphasising that the business conglomerate upholds the highest standards of governance and legal compliance. It has vowed to explore all possible legal avenues to counter the charges.
   
"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," a spokesperson of the business conglomerate said on Thursday.