Why Is Modi 'Afraid' To Order JPC Probe: Congress Questions PM Demanding Probe Into Adani Row

Congress spokesperson Gourav Vallabh asked Prime Minister Modi "Who do you want to save" as he asked why he was "afraid" to order a JPC probe into the fraud allegations against the Adani Group

New Delhi: The Congress Party on Friday questioned Prime Minister Narendra Modi over the Adani-Hindenburg row asking is why he "afraid" to order a Joint Parliamentary Committee (JPC) probe into the fraud allegations against the Adani Group and "who he is trying to save".

Small investors lost Rs 10.5 lakh crore due to the Adani Group and government regulators like the Securities and Exchange Board of India and the Reserve Bank of India are "silent", Congress national spokesperson Gourav Vallabh said at a press conference, as quoted by news agency PTI.

Gourav Vallabh was as part of the Congress series "Hum Adani Ke Hai Kaun" (How are we related to Adani).

"The Congress asked questions in Parliament on matters related to the Adani Group. It was removed from the proceedings of the House. Who does the black that the Adani Group received from foreign-based shell companies belong to? Why is Modi ji afraid of ordering a JPC probe? Who do you want to save," he asked.

Opposition parties, including the Congress, have been demanding a JPC probe or a Supreme Court-monitored investigation into the allegations levelled by Hindenburg.

"Small investors lost Rs 10.5 lakh crore due to Adani Group and SEBI, RBI and finance department are silent," he alleged.

The Congress leader stressed that his party is not against any individual or capitalism, but it is against monopolies and crony capitalism.

"We are not against someone becoming the world's second richest man from the 609th, but we are against crony capitalism. Why are other industrial groups in the country not getting this formula? We are not against 'Amrit Kaal', but we are against 'Mitrakaal'," he said, as quoted by PTI.

The Congress leader asked if it is a "coincidence" that the Adani Group lands a big project every time Modi travels abroad.

Parliamentary proceedings during the first week of the recently concluded first part of the Budget Session were virtually washed out amid protests by opposition parties demanding a JPC probe into the allegations against the Adani Group.

Adani Group stocks took a beating after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group in a report released on January 24.

The Adani Group has dismissed the allegations as lies.