He alleged that extraordinary favouritism had been shown by government banks, particularly the SBI, in providing credit for key projects, including the Adani copper plant at Mundra, the airport in Navi Mumbai, and the UP Expressway Project.The senior Congress leader also alleged “subordination of India’s foreign policy interests to the needs of Adani Enterprises, at the cost of India’s standing in the neighbourhood”.He claimed that India’s strategic relationship with Israel had been handed to a single company, Adani.Ramesh also claimed coal and power equipment over-invoicing, alleging that it has not only facilitated money laundering and abnormal profits but also raised the common citizen’s electricity bills.He cited “unregulated extension” of leases over publicly-owned assets to Adani Group at throwaway prices.”The Hindenburg allegations do not refer to any of the above. Its allegations are limited to those that deal with the capital markets — stock manipulation, accounting fraud, and conflict of interest in regulatory agencies. Hindenburg is only the tip of the iceberg,” Ramesh said.”Only a JPC can investigate and unravel the true and full extent of this Modani mega-scam,” he stressed.Ramesh’s remarks come days after Hindenburg Research launched a fresh broadside against market regulator SEBI chairperson Madhabi Buch, alleging she and her husband had stakes in obscure offshore funds used in the Adani money siphoning scandal.SEBI Chairman Buch and her husband have denied the allegations levelled against them as baseless and asserted that their finances are an open book.Adani Group has also termed Hindenburg Research’s latest allegations as malicious and manipulative of select public information, saying it has no commercial relationship with the SEBI chairperson or her husband.
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