NEW DELHI: Senior Congress leader and MP Rahul Gandhi launched a new salvo targetting the Narendra Modi government of a new attack when a news article in an English daily alleged that a major investor of Adani Group is a co-owner with the business entity in a defence firm.
"The contract to improve India's missile and radar was awarded to Elara, a questionable foreign organisation, which is owned by Adani. Who is Elara's master? Why does handing over management of vital defence assets to unidentified foreign organisations jeopardize India's national security?" Rahul Gandhi said in tweet.
ELARA India Opportunities Fund is a venture capital fund and one of the top four organisations registered in Mauritius that has shares in Adani Group firms. As per reports, the group has decreased its share over the last three years, but the holdings in the three Adani companies total more than 9,000 crore.
Alpha Design Technologies Private Limited, a defence company situated in Bangalore, with Elara and the Adani Group as promoter entities. This defence corporation was set up in 2003 and works closely with the Indian Space Research Organisation (ISRO) and Defence Research Development Department (DRDO), the reprt said.
In the meantime, the members of the opposition demanded on Tuesday that a Joint Parliamentary Committee (JPC) look into the Adani Group matter and accused the government of remaining mute on a report by a US firm that suspected stock manipulation and accounting fraud by the group.
The opposition has been holding up parliamentary business by calling for a Joint Parliamentary Committee (JPC) investigation into the Adani-Hindenburg issue.
On January 24, a worrying report from the US-based short-seller company Hindenburg Research surfaced, saying that the Adani Group had weak economic fundamentals and was, among other things, engaged in stock manipulation and accounting fraud.
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