‘Why Are CBI and SEBI Silent on Gautam Adani?’ Rahul Gandhi Raises Question on Latest Fraud Revelation

By Cross Talk India Team Last updated Nov 21, 2024

Rahul Gandhi on Gautam Adani: Gautam Adani, the chairman of the Adani Group, has found himself embroiled in controversy yet again as Eastern District of New York has accused him of a $265 million bribery and fraud scheme. The US authorities have issued an arrest warrant for Gautam Adani, alleging violations of both US and Indian laws. In light of these developments, Congress leader Rahul Gandhi addressed a press conference on Thursday, November 21, targeting Gautam Adani, Indian agencies like CBI and SEBI, and Prime Minister Narendra Modi for their silence on these allegations. Rahul Gandhi reiterated his call for a Joint Parliamentary Committee (JPC) probe into what he termed the “scams” involving the Adani Group.

Rahul Gandhi Targets PM Modi Over Bribery and Fraud Allegations Against Gautam Adani

I want to say that wherever there is corruption, there should be investigation.

But investigation should start from Adani. Arrest Adani, interrogate him and then catch whoever is involved in this corruption.

I am telling you that at the end of this investigation, Narendra Modi’s name will come up and Narendra Modi’s… pic.twitter.com/Q7iKbf601j

— Congress (@INCIndia) November 21, 2024

During the press conference, Rahul Gandhi accused Prime Minister Narendra Modi of shielding Gautam Adani despite the gravity of the allegations. He stated, “There will be no investigation against Gautam Adani in India because he receives protection from the government. If Prime Minister Narendra Modi and Gautam Adani are together, they are safe in India.” Rahul Gandhi further stressed that Mr. Adani should be arrested immediately, given the US authorities’ actions against him.

Rahul Gandhi Demands JPC Probe Into Adani Group Transactions

Being the leader of the opposition, it is my responsibility to raise this issue.

Adani has acquired wealth in India through corruption. Therefore, we will keep repeating the demand of JPC.

We want Adani to be arrested. But we know that they will not be arrested because… pic.twitter.com/GF22jwizf6

— Congress (@INCIndia) November 21, 2024

Rahul Gandhi highlighted the importance of a JPC probe into the Adani Group’s dealings, particularly in light of growing monopolization in critical sectors of the Indian economy. He asserted that the monopolies fuel inflation and create challenges for India’s foreign policy, especially in its neighboring regions. Gandhi further confirmed his intent to bring up this issue in the upcoming Winter Session of Parliament, saying, “Our duty is to inform the public about crime, corruption, and monopolies.”

‘Why Are CBI and SEBI Silent?’ Rahul Gandhi Questions Indian Agencies

Rahul Gandhi targeted Indian agencies like CBI and SEBI for their silence on the allegations against Gautam Adani. He pointed out that US authorities, including the FBI, have stated that Gautam Adani has violated both US and Indian laws. He questioned why Indian agencies such as CBI and SEBI are not investigating these serious allegations. He further criticized these institutions, including ED and sections of the media, for failing in their legal responsibilities, stating that Congress is left to carry out the work these instruments should be doing.

Rahul Gandhi on Stock Market Concerns

Addressing concerns about the stock market, Rahul Gandhi accused the Adani Group of artificially inflating stock prices, creating an unstable environment for retail investors. He criticized SEBI Chief Madhabi Buch, alleging that her oversight allowed stock price manipulations, which ultimately harms small investors. Rahul Gandhi warned that the burden of such schemes would eventually fall on the retail investor, causing widespread financial distress.

Rahul Gandhi’s remarks come at a time when the Adani Group is under intense scrutiny from global authorities and short-selling firm Hindenburg Research. The allegations have not only impacted the reputation of Gautam Adani but have also led to a significant drop in Adani Group shares, causing concern among investors.

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