The Adani Group was unnecessarily targeted; Can’t see logic in JPC’s demand, says Pawar

New Delhi: NCP leader and key Congress ally Sharad Pawar on Friday criticized the campaign against the Adani Group, saying the corporate giant is being targeted, which has come as a jolt to others in the opposition, especially Rahul Gandhi. being seen as He also questioned the logic of demanding a Parliamentary (JPC) inquiry given the BJP’s majority.

Sharad Pawar in an interview questioned the credibility and intent of the international short seller (Hindenburg), who claimed that Adani Group’s shares were overvalued due to alleged manipulation by promoters and others, leading to a fall in their share prices. I and his net worth eroded and he was forced to quit.

Their plan to expand as well as raise funds. He said, ‘And who brought these issues which were raised. , , It was necessary to assess what his background was. The country’s economy had to pay for this. This cannot be ignored. It seems they (Adani group) are being targeted.

The Hindenburg Report was seized upon by the Congress and others to attack the Modi government for its alleged patronage of the Adanis. NCP veteran Sharad Pawar, who had earlier asked Rahul Gandhi not to attack Hindutva supporter VD Savarkar, also opposed the demand for a JPC probe, saying it would not serve any purpose. The clamor for this by the Congress and others, he said, may be motivated by a desire to keep the allegations going.

He also disapproved of Rahul’s targeting of Ambani-Adani, saying the corporates had contributed to the petrochemical and energy sectors, respectively, and were being targeted only because people wanted to attack the government.

Stating that the neglect of big business was a reminder of what the Tata-Birlas had to endure earlier, he said: “Today, Ambani has contributed to the petrochemical sector, doesn’t the country need it? Adani’s contribution in the power sector. Does the country not need electricity? These are the people who take such responsibility and work for the name of the country. If they have done wrong, you attack, but they have created this infrastructure, I don’t think it is right to criticize them.

While he acknowledged that others in the opposition had also supported the JPC demand, the interview dealt a blow to the Congress’ plan to use the Hindenburg report to target PM Narendra Modi and the BJP.

Pawar questioned the need for a JPC probe when the Supreme Court had already constituted a committee comprising an expert administrator and an economist under a retired SC judge. “If a parliamentary committee is appointed, the monitoring rests with the governing party. The demand was against the ruling party, and if the committee appointed to probe has a majority of the ruling party, how the truth will come out is a valid concern,” Pawar said.

Pawar echoed the belief in ruling party circles that the pitch could be a tool to stir the Adani pot. “Perhaps the argument (Congress and others in the opposition) could have been that once the JPC starts, its proceedings are reported in the media on a daily basis. Perhaps someone would have wanted this matter to drag on for two-four months, but the truth never comes out.