'Adani Group over-invoiced coal imports, fleecing public,' alleges Rahul Gandhi
What's the story
Congress leader Rahul Gandhi on Wednesday accused Adani Group of overcharging for coal imports, alleging this practice cost the public Rs. 12,000 crore.
Referring to a report in The Financial Times, Gandhi claimed that the group purchased coal in Indonesia and sold it at double rates in India.
He further asserted that this practice is causing electricity prices to rise, with Adani taking money from the poorest citizens.
Gandhi also questioned Prime Minister Narendra Modi's silence on the issue.
Context
Why does this story matter?
In January, the United States-based short-seller Hindenburg Research published a report alleging that the conglomerate was involved in accounting fraud, stock manipulation, and other wrongdoing.
While the report triggered a severe setback to the group's future objectives, it also caused the company's shares to plummet sharply. The group's Chairman, Gautam Adani, refuted all the charges.
However, it led to a political slugfest in the country, with the opposition accusing the Bharatiya Janata Party (BJP)-led Centre of shielding Adani.
Details
Congress leader alleges direct theft of public money
Addressing a press conference, Gandhi claimed that the group founder and chairman was directly stealing public funds.
He stated that when people turn on a switch of a bulb, Adani gets the profits.
Gandhi alleged that investigations were taking place in many countries over this issue and people were raising questions, but no action was being taken in India.
He reportedly emphasized that this story would topple any government and labeled it "direct theft."
What Next?
Gandhi questions PM Modi's silence on issue
The Wayanad MP also questioned PM Modi's silence on the matter, suggesting that this could not occur without protection from the prime minister.
He criticized the media for not showing interest in the story and not questioning the Adani Group.
Gandhi stated that the Congress was already providing subsidies in Karnataka and is prepared to offer subsidies in Madhya Pradesh as well.
Twitter Post
Watch: Excerpts of Gandhi's press conference in Delhi
#WATCH | Delhi: Congress MP Rahul Gandhi says, "...Adani buys coal in Indonesia and by the time the coal arrives in India, its price doubles...Our electricity prices are going up...He (Adani) takes money from the poorest people...This story would bring down any government. This… https://t.co/8cvBLWNdNc pic.twitter.com/ROuI1UvOk2
— ANI (@ANI) October 18, 2023
Insights
Gandhi seeks to quash defamation complaint against him
Separately, Gandhi is facing defamation charges concerning his remarks that allegedly connected the Rashtriya Swayamsevak Sangh (RSS) to the 2017 murder of journalist Gauri Lankesh.
He has approached the Bombay High Court to dismiss the defamation complaint.
Gandhi argued that his case should not be combined with that filed against Communist Party of India (Marxist) leader Sitaram Yechury, as they made their statements on separate occasions and belong to different parties with unique ideologies.
Facts
Hearing scheduled for December 5
Reportedly, Justice SV Kotwal has scheduled the hearing for December 5.
Lankesh, a Bengaluru-based journalist and activist, was murdered outside her home on September 5, 2017, allegedly by right-wing extremists.
Dhrutiman Joshi, a lawyer, filed a private complaint before a magistrate in 2017 against Gandhi, his mother and fellow Congress leader Sonia Gandhi, and Yechury, seeking action against them for alleged defamation under sections 499 and 500 of the Indian Penal Code.