"This Is The Biggest Scam of Modern India:" Jairam Ramesh On MODANI Mega Scam (image:twitter/Jairam_Ramesh)

In a statement issued on Friday, Congress MP and General Secretary of Communications, Mr Jairam Ramesh delves into detail how shadowy network of Adani group is engaged in money laundering, SEBI violations, and how PM Modi along with BJP upgrading themselves at the behest of India’s poor and middle class.

The statement talks about the Financial Times (FT) report confirming the Directorate of Revenue Intelligence (DRI)’s over Adani group. Mentioning Adani’s Modi-made magic in carbon trading, Congress MP explains about the FT study. In the thirty Adani coal shipments between 2019 and 2021 amounting to 3.1 million tonnes, total cost declared to Indonesia (Rs. 1037 crore) compared to the value declared to Indian customs (Rs. 1570 crore) rakes a 52% profit margin, FT said.

“Between September 2021 and July 2023, Adani imported 2,000 coal shipments totalling 73 million tonnes of coal. Of this, Adani directly imported 42mn tonnes and three Adani-linked middlemen imported 31 million tonnes. In the last two years, Adani has paid the three companies $4.8 billion (Rs 37,000 crores),” statement said. Congress MP cites that firms Hi Lingos in Taiwan owned by Chang Chung-Ling, Taurus in Dubai owned by Mohamed Ali Shaban Ahli and Pan Asia Tradelink in Singapore owned by a former Adani employee are the middlemen – three known names in Adani MegaScam.

Previously, the DRI found out about the over-invoicing of imported power-generation equipment, and now Adani’s inflation of the price of imported coal has also been confirmed. The statement, then points that these projects come from PM Modi’ help, with his help on many grounds, BJP is kept receiving electoral bond funds from Adani.

The statement further added that the key point is, Adani and the PM are taking this money from the people of India. People of India are paying for inflated coal and power-equipment costs and it is their money that is being draining out for PM’s gain. When Congress initiated welfare programmes in different states to ease people’s pain, the PM mocked it as “revadi”, the same person who inflicted the pain, Congress MP said.

The statement concluded by saying that “This is the biggest scam of modern India.” Also, ends with an asserting claim that,” India will not be captured by Modani. The people of India will answer in 2024.”