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Congress Leader Jairam Ramesh Demands Strict Action Against Adani-Related Entities

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The Congress Wednesday said a “cover-up” is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices.

It asserted the “scam” requires serious punitive action, including arrests and raids by investigative agencies.

Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minister Narendra Modi and “his cronies”.

His remarks come amid reports that several entities connected to Adani Group have approached the Securities and Exchange Board of India (SEBI) seeking settlement in a case that alleges violations of public shareholding norms through unfair practices at four listed companies of the infrastructure conglomerate.

“A cover-up is in the making. Reports that opaque offshore entities and individuals linked to the Adani Group — whose activities have been exposed by successive reports in the public domain — have offered to settle serious allegations of violations of securities laws for token amounts is a clear indicator of this,” Ramesh said in a statement.

These reportedly involve investments in four companies, Adani Enterprises, Adani Power, Adani Energy Solutions and Adani Ports and SEZ, he said.

“While any settlement would be proof of guilt, which vindicates our ‘Hum Adani Ke Hain Kaun’ campaign, it also appears to be heading towards a light slap on the wrist under the direct patronage of the PM,” the Congress general secretary said.

“The Adani Mega Scam requires serious punitive action, including arrests and raids by investigative agencies which has been the norm with all those who are not close friends and financiers of the prime minister. We urge SEBI to take the strictest action against these entities,” Ramesh said.

He further said that another reason for concern is the conflicts of interest of SEBI chairperson Madhabi Puri Buch who invested in the opaque offshore funds that have been accused of facilitating the violations of these very laws via benami investments.

“Far from resigning or being removed, she is now in a position to make a settlement with those whom she has been protecting all along,” Ramesh said.

“The violations are not simply of public shareholding norms; there is plenty of evidence that the money used to pump up Adani Group share prices was laundered by over-invoicing of thousands of crores of coal and power-equipment imports,” he alleged.

Adani-linked middlemen Chang Chung-Ling and Nasser Ali Shaban Ahli built up benami stakes of 8-14 per cent in these firms using shell companies in locations such as Mauritius, the UAE and the British Virgin Islands, he claimed.

The Congress has stepped up its attack on the Adani Group and the government after Gautam Adani, the founder chairman of the ports-to-energy conglomerate, his nephew Sagar and another key executive were charged by the US Department of Justice of being part of an alleged scheme to pay USD 265 million bribes to the Indian officials to win contracts for the supply of solar electricity that would yield USD 2 billion profit over a 20-year period.

The Adani Group has denied all allegations as baseless.

The Congress has been demanding a joint parliamentary committee probe into the Adani issue over allegations in India and abroad.

The opposition party has said that Adani’s indictment in a US court on bribery and fraud charges “vindicates” its demand for a JPC investigation into the various “scams” involving the billionaire industrialist’s conglomerate. Gandhi has sought Adani’s immediate arrest.

Business

India, New Zealand set to sign FTA for improved market access on April 27

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New Delhi, April 24: As India and New Zealand prepare to sign a Free Trade Agreement (FTA) on Monday, both sides are expected to benefit from expanded trade ties and improved market access, New Zealand Prime Minister Christopher Luxon has said.

Taking to the social media platform X, Luxon said, “We will sign a Free Trade Agreement with India on Monday.”

In a video message, Luxon said the agreement would improve market access for New Zealand exporters, particularly manufacturers of marine jet systems used in boats and exported to over 70 countries.

He added that the deal would help reduce trade barriers and strengthen commercial engagement between the two countries.

He also noted that certain exporters currently face tariffs while accessing the Indian market, and said the agreement would gradually ease such duties, improving competitiveness and supporting higher trade flows.

Luxon said the FTA would support increased business activity, employment opportunities and economic growth in New Zealand, while also strengthening bilateral trade linkages with India.

He added that the agreement would bring ‘more jobs, higher wages and more opportunities,’ highlighting the broader economic impact of the deal.

Once signed, the FTA is expected to expand trade and investment ties between the two countries and enhance export opportunities on both sides in a large and growing global market environment.

Earlier this month, legal verification of the New Zealand-India FTA was completed, with both countries agreeing to sign the pact on April 27 in the presence of a large contingent of business representatives, New Zealand Trade and Investment Minister Todd McClay said.

In a statement, McClay described the agreement as a “once-in-a-generation opportunity,” saying it would strengthen bilateral trade relations and provide improved access to each other’s markets.

He said that amid global economic and geopolitical uncertainty, strengthening trade partnerships remains important for long-term economic stability.

McClay added that signing the FTA would allow New Zealand to formally initiate parliamentary treaty examination, enabling public scrutiny of the agreement.

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Crime

Delhi Police bust illegal LPG racket in Palam-Dwarka; 137 cylinders seized

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New Delhi, April 23: In a major breakthrough, the AGS/Crime Branch of Delhi Police, acting on specific and credible intelligence, carried out coordinated raids at multiple locations in the Palam and Dwarka areas, uncovering a large-scale illegal operation involving the unauthorised storage and refilling of LPG cylinders, officials said on Thursday.

The crackdown resulted in the recovery of 137 LPG cylinders along with refilling equipment, exposing serious violations of safety norms and regulatory guidelines. Officials said the operation points to a deliberate misuse of the LPG distribution system.

Keeping in view the prevailing circumstances, and as a preventive step against hoarding and black marketing of LPG cylinders, a dedicated team was constituted to identify and apprehend those involved in such activities.

The team comprised Inspector Krishan Kumar, along with Sub-Inspectors Narender Kumar and Agam Prasad; Assistant Sub-Inspectors Surender, Mintu, and Deepak; Head Constable Shyam Sunder; and Constable Dheeraj. The operation was carried out under the close supervision of ACP Bhagwati Prasad, ACP/AGS, and overall supervision of IPS officer Harsh Indora, DCP/Crime Branch.

Following sustained groundwork, specific and credible secret information was received regarding hoarding and illegal refilling of LPG cylinders in the Dwarka and Palam areas of Delhi.

Acting on the input, a raiding team was formed, and a search operation was conducted at JJ Colony, Sector-7, Dwarka. During the raid, 77 LPG cylinders were found stored at the premises. Some cylinders were also discovered loaded in vehicles present at the spot.

The following persons, all residents of Delhi, were found present along with their vehicles — Arjun (45), a resident of Bagdola; Surajpal Pandey (42), resident of Raj Nagar-II, Palam Colony; Amarjeet Kumar (28), resident of Raj Nagar-II, Palam Colony; Prempal Singh (52), resident of Raj Nagar-II, Palam Colony; Sukh Ram (48), resident of Goyla Dairy, Kutub Vihar Phase-1; and Vikram (42), resident of Dada Dev Road, Dev Kunj, Palam.

When questioned about the possession of such a large number of LPG cylinders, they failed to produce any valid documents or a satisfactory explanation. Subsequent interrogation led to further raids at two additional locations.

In a second recovery, 25 LPG cylinders were seized from a tempo parked near the premises. The owner of the vehicle, Malkhan (59), a resident of Sector-7, Dwarka, was found present at the spot.

A third recovery led to the seizure of 35 LPG cylinders from premises in Gali No. 6, near Bachpan Play School, Dev Kunj, Raj Nagar-II, Palam Colony, where the cylinders were stocked in an open area adjoining a house.

At this location, the following persons were found present: Raju Rai, a resident of Manglapuri Phase-II; Chander Pal, a resident of Palam Dada Dev Road; Bablu, a resident of Goyla Dairy; and Sujeet Kumar, a resident of Shyam Vihar Phase-1.

Considering the scale of the recovery, the Food and Supply Officer (FSO), Palam-Dwarka, was informed and called to the spot. The official stated that such accumulation of LPG cylinders is not authorised without proper permission. In his presence, all the recovered cylinders were seized.

The FSO subsequently informed the Senior Manager (LPGS), New Delhi and South-West District, and the case property was handed over to Shivam Jain, Senior Manager (LPGS).

All the accused persons have been apprehended. Investigations revealed that they were illegally storing domestic LPG cylinders for black market purposes and were involved in unauthorised refilling and tampering of cylinders, officials said.

A case has been registered at the Crime Branch police station under Sections 125/3(5) of the BNS and Section 3/7 of the Essential Commodities Act, 1955.

During interrogation, it emerged that the accused had procured LPG cylinders from a gas agency, but instead of delivering them as per the assigned targets, they diverted and stored them illegally at the identified premises.

They maintained an unauthorised stock and used illegal equipment to transfer gas from filled cylinders into empty ones, which were then sold in the open market for unlawful gains.

Further investigation into the matter is currently underway.

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Mumbai Press Exclusive News

Employee arrested from UP for stealing from Mumbai spice shop, cash recovered

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The police have claimed to have arrested an employee thief who stole Rs 13,86,200 from a spice shop in the Kala Chowki area of ​​Mumbai from UP Ayodhya, Uttar Pradesh. The money collected for 8 days at the spice shop in the Kala Chowki area was kept in the grain and the next day the complainant shop owner searched for the money in the grain but did not find it. After that, he filed a report at the police station and the police conducted an inquiry and found that the employee working at the shop had been absent since morning, which made the police suspicious and the police arrested Ajay Kumar Shyam Sundar from Ayodhya, UP and recovered more than Rs 10 lakh in cash from his possession. This operation was solved by DCP Ragasudha on the instructions of Mumbai Police Commissioner Devin Bharti and the police have succeeded in arresting the accused from UP.

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