Hindenburg's closure gives no clean chit to 'Modani': Congress fires
text_fields
New Delhi: The Congress said on Friday that Hindenburg Research shutting itself does not by any way mean a clean chit for “Modani”- Modi or Adani. “Modani” is a portmanteau word that Congress has coined to describe the alleged nexus between the Narendra Modi government in the Centre and the Adani Group, The Telegraph reported.
It was on Wednesday that founder Nate Anderson announced the shutting down of the short seller, which is renowned for incriminating revelations against business tycoon Adani Group. His revelations had resulted in significant losses for the company.
Congress Party, in a statement, said that the Hindenburg report of January 2023 proved serious enough to compel the Supreme Court of India to set up an Expert Committee to probe the allegation made in it against the Adani Group, whose prime patron Is none other than the present Prime Minister of India.
However, the Hindenburg report covered only one part — securities laws violations — of the hydra-headed Modani MegaScam. Out of the 100 questions on the Adani MegaScam that the Congress party had asked of the PM in the Hum Adani ke Hain Kaun (HAHK) series during January-March 2023, only 21 questions related to revelations made in the Hindenburg report.
The statement said that the report involved abuse of India's foreign policy to enrich the PM's close friends at the expense of the national interest. It involves the misuse of investigative agencies to force Indian businesspersons to divest critical infrastructure assets and help Adani build monopolies in airports, ports, defence and cement. It involves the capture of once-respected institutions such as SEBI, whose discredited chairperson continues in her position despite clear evidence of conflicts of interest and financial links to Adani.
The statement furthered that Modani may have — and it has— captured India's institutions, but criminality exposed outside the country cannot be covered up in this way.
The statement referenced the US allegations against the Adani Group, The Telegraph writes.