The Congress had earlier said that the demand for a JPC probe goes beyond the findings of the Hindenburg report as it is “just the tip of the iceberg.””The demand for a Joint Parliamentary Committee (JPC) investigation into the Adani Mega Scam goes far beyond the revelations made by Hindenburg Research’s reports. Irregularities and wrongdoings relating to the Adani Group span every dimension of the political economy, as documented in our 100-question series HAHK (Hum Adani Ke Hain Kaun),” Jairam Ramesh had said. The party has been pushing for a transparent investigation into the matter since the release of the Hindenburg report in January 2023, which accused the Adani Group of stock manipulation and accounting fraud.In a recently released report, Hindenburg Research alleged that the chairperson of SEBI, the market regulator entrusted with investigation into the matter, held hidden stakes in the ‘obscure’ offshore funds used by Vinod Adani, brother of billionaire Gautam Adani.The report alleged that this is the reason why Sebi was not keen to thoroughly investigate the Adani Group. Both Madhabi Buch and Adani have refuted the allegations with the ruling party terming it as a “conspiracy.” The Congress has however demanded the resignation of the Sebi chief and announced a nationwide protest on August 22.
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