Amidst growing concerns, the market regulator, Securities and Exchange Board of India (Sebi), has reportedly failed to come to a definitive conclusion in the ongoing probe into allegations of money laundering and round-tripping against the Adani Group. Congress leader Jairam Ramesh has expressed deep apprehension over this development.

In a pointed statement on Saturday, Jairam Ramesh underscored the disquiet within the Congress party regarding Sebi’s inability to reach a conclusive decision in the case involving the Adani Group. The allegations have revolved around financial improprieties, including round-tripping of funds and money laundering.

Sebi’s update on the matter was conveyed to the Supreme Court on Friday through an affidavit. The regulatory body provided insights into the progress of its investigation related to the Adani-Hindenburg affair. However, the lack of a clear verdict has raised eyebrows and prompted concerns about the integrity of the financial system.

Jairam Ramesh emphasized that the gravity of the situation warranted a thorough examination. He suggested that only a Joint Parliamentary Committee (JPC) could adequately scrutinize the intricacies of the case, particularly focusing on allegations of deviations from established norms and procedures that might have favored the Adani Group.

The Congress leader took to ‘X’ to share his statement, further amplifying the mounting anxieties surrounding this issue. “Sebi’s inability to reach a final conclusion in the matter of round-tripping and money-laundering allegations against the Adani Group is deeply worrying,” Jairam Ramesh stated, reflecting the prevailing sentiment within the Congress camp.

Shares of Adani Group companies fell by up to 5% following allegations that the group’s partners used opaque funds through Mauritius to invest in its own stocks. The Adani Group rejected the claims, calling them ‘recycled’ and an effort to lower stock prices.

According to the Organised Crime and Corruption Reporting Project (OCCRP), millions were invested in Adani Group stocks through unclear Mauritius funds, concealing involvement of alleged partners. The non-profit also found instances of Adani stock trading through offshore structures using documents from tax havens and internal Adani Group emails.

All Adani Group stocks dropped after the report, causing a market cap decrease of over ₹35,500 crore. Companies like Adani Energy Solutions, Adani Power, and Adani Green Energy saw 2-5% declines.

The Adani Group strongly denied the allegations, deeming them recycled and meant to drive down stock prices. They asserted that the news reports are an attempt by Soros-funded interests and foreign media to revive baseless claims. The group also noted ongoing investigations into short sellers by regulatory authorities.

The group clarified that past cases from a decade ago were resolved in their favor, with no over-valuation or wrongdoing. The timing of the news reports was criticized as suspicious and malicious.

This follows prior accusations by Hindenburg Research in January, which accused Adani Group of improper business dealings involving offshore entities.

New Delhi, August 30 : A significant development has unfolded as the Centre issued a notice on August 22, signaling its intent to take over 123 properties currently under the purview of the Waqf Board. Among the notable assets earmarked for transfer is the iconic Jama Masjid located in the heart of Delhi.

This move follows a decisive step taken by the ministry earlier this year in February, when it resolved to assume control of 123 Waqf board properties encompassing various religious sites such as mosques, dargahs, and graveyards. This determination stemmed from recommendations put forth by a committee composed of two members.

A detailed report by PTI highlighted that in a communication dated February 8, the deputy land and development officer informed the board of its impending disassociation from matters related to the 123 Waqf properties.

According to the report, the Land and Development Office (L&DO) under the central ministry cited the findings of a committee led by Justice (retired) S P Garg. The committee’s report indicated that the Delhi Waqf Board had neither presented any representation nor raised objections regarding the contested properties.

The L&DO’s communication unequivocally stated, “It is evident from the above facts that the Delhi Waqf Board does not have any stake in the listed properties, neither have they shown any interest in the properties nor filed any objections or claims. It is, therefore, decided to absolve Delhi Waqf Board from all matters pertaining to ‘123 Waqf Properties’.”

The matter took another legal twist in May when the Delhi High Court granted permission to the Union government to undertake a physical inspection of the 123 properties. The possession of these assets has been a subject of dispute between the Delhi Waqf Board and the Union government.

This verdict elicited a strong reaction from Aam Aadmi Party MLA and board chairman Amanatullah Khan. He conveyed his apprehensions, asserting that the decision had triggered considerable unrest, fear, and discontent within the Muslim community. As the situation continues to unfold, stakeholders closely follow developments surrounding these contentious assets.

Morena, August 30 : In a devastating incident, five laborers, including three brothers, tragically lost their lives due to suspected inhalation of poisonous gas at a factory located in Morena district of Madhya Pradesh. The incident unfolded on Wednesday, sending shockwaves through the community and prompting immediate action from authorities.

The ill-fated incident occurred within the premises of the Sakshi Food Products factory situated in the Dhanela area of the district. The factory, known for producing processed cherries and sugar-free chemicals for food products, turned into a scene of tragedy when poisonous gas reportedly began emitting from a tank within the facility around 11 am.

Sub-divisional magistrate (SDM) Bhupendra Singh Kushwaha revealed that, in an attempt to assess the situation, two laborers entered the tank housing the hazardous gas. Tragically, they fell critically ill upon inhaling the toxic fumes. The severity of the situation escalated as three more laborers subsequently succumbed to the effects of the gas.

Swift medical intervention saw all victims being rushed to the district hospital. Despite efforts, civil surgeon Gajendra Singh Tomar declared them deceased. The bodies were sent for autopsy to ascertain the exact cause of their untimely deaths.

The unfortunate victims were identified as Ramavtar Gurjar (35), Ramnaresh Gurjar (40), and Veersingh Gurjar (30), all siblings hailing from Tiktoli village. Ganesh Gurjar (40) and Girraj Gurjar (28) were the other laborers tragically caught in this harrowing incident.

Prompt action was taken by district officials in response to the incident, leading to the immediate evacuation of the factory. An ongoing investigation aims to shed light on the circumstances leading to this tragedy.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan expressed deep sorrow and condolences over the loss of lives, emphasizing the need for thorough investigation and preventive measures to avert such tragedies in the future.