Rahul Gandhi, senior Congress leader and Member of Parliament, has once again escalated his criticism of industrialist Gautam Adani, alleging that Adani has violated Indian and U.S. laws. In his latest statement, Gandhi questioned why Adani remains free despite what he described as "established" evidence of wrongdoing.

Speaking about the ongoing controversies surrounding Adani, Gandhi stated, "It’s pretty clear and established that Gautam Adani broke U.S. and Indian laws. I am wondering why he is still running around as a free man in India."

The remarks come amidst a series of allegations and investigations linked to Adani Group’s financial practices, particularly regarding governance concerns raised by international and domestic regulatory bodies.

Accusations Against SEBI Chief Madhabi Puri Buch

Gandhi didn’t stop at targeting Adani. He also turned his focus toward Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI). According to Gandhi, Buch has been "protecting Adani" from legal scrutiny. He remarked that "Madhabi Buch, who is protecting Adani, should be removed."

This is not the first time Rahul Gandhi has raised concerns over SEBI’s handling of cases involving Gautam Adani. He has accused the regulatory body of being biased in its investigations and called for stronger accountability measures.

Allegations Against Gautam Adani

The Adani Group, one of India’s largest conglomerates, has faced allegations of improper financial dealings, stock manipulation, and governance failures in recent years. Rahul Gandhi and the opposition have repeatedly raised the issue in Parliament and public forums.

Key allegations against the group include:

• Stock price manipulation through shell companies.
• Non-disclosure of beneficial ownership in certain overseas entities.
• Violation of foreign exchange laws.

Earlier investigations by the U.S.-based Hindenburg Research had also accused the Adani Group of accounting fraud and extensive use of offshore tax havens. However, the Adani Group has consistently denied all allegations, calling them baseless and politically motivated.

Gandhi’s Call for Arrest and Accountability

Gandhi has demanded immediate legal action against Gautam Adani and questioned the government’s reluctance to act. He expressed frustration over the lack of progress in the investigations, particularly those involving regulatory oversight by SEBI and other agencies.

He stated, "I have been raising the issue related to Madhabi Buch and Adani again and again, yet no action has been taken. This reflects poorly on India’s commitment to transparency and justice."

Adani Group’s Response

The Adani Group, in response to past allegations, has maintained its compliance with Indian laws and denied any wrongdoing. It has called the accusations politically motivated and aimed at tarnishing its reputation.

In a recent media statement, the group reiterated its commitment to governance, transparency, and ethical practices, stating that allegations made by opposition leaders lack substantive evidence.

Broader Political Implications

Rahul Gandhi’s renewed attack on Gautam Adani and Madhabi Puri Buch comes as the Congress party intensifies its campaign against alleged crony capitalism under the current government. Gandhi’s remarks could further fuel political debates in the lead-up to upcoming elections.

The Congress leader has consistently framed the Adani controversy as a symbol of unchecked corporate power and collusion with the government. His criticism of SEBI and other regulatory bodies also highlights concerns about the independence of India’s institutions.

Conclusion

Rahul Gandhi’s sharp remarks underscore the growing political and public scrutiny of Gautam Adani and the regulatory framework overseeing corporate practices in India. As investigations continue, Gandhi’s persistent calls for action may increase pressure on both the government and regulatory bodies to address these allegations comprehensively.

With elections approaching, the Adani controversy is likely to remain a significant talking point in the political discourse. Whether these allegations translate into legal action or policy changes remains to be seen.

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