Cong claims SEBI's Adani probe hampered by lack of information sharing by tax-haven countries
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New Delhi (PTI): The Congress on Monday claimed that a key figure in the Adani "scam" has Cypriot citizenship, and said the ongoing SEBI investigations into transactions involving the conglomerate have been hampered by lack of sharing of financial information by tax-haven countries and "lack of pressure" by India.
The opposition party's assertions come amid the ongoing visit of Prime Minister Narendra Modi to Cyprus.
"The Prime Minister is in Cyprus on his way to Canada. Of course, he would have us believe that it is a pure coincidence that a key figure in the Modani scam has Cypriot citizenship," Congress general secretary in-charge communications Jairam Ramesh said. The Cyprus-based fund New Leaina has reportedly about USD 420 million in Adani companies, he claimed.
"The 'ultimate beneficial owners' of this fund are linked to Amicorp, which is believed to have set up at least seven Adani promoter entities, seventeen offshore shell companies linked to Mr. Vinod Adani, and three Mauritius-based offshore investors in Adani Group stock," Ramesh said in his post on X.
All these transactions are part of the ongoing SEBI investigations which have been hampered by lack of sharing of financial information by these and other tax-haven countries and lack of pressure by India, Ramesh alleged.
There was no immediate reaction from the Adani Group on the claims but it has denied all such allegations made by the Congress and other entities.
The Congress has been persistent in its attack on the government since the Adani Group stocks took a beating on the bourses in the wake of US-based short-selling firm Hindenburg Research making a litany of allegations, including fraudulent transactions and share-price manipulation, on the conglomerate headed by industrialist Gautam Adani.
The Adani Group has dismissed all the charges made by the Congress and others as lies, saying it complies with all laws and disclosure requirements.
Noting that Cyprus gained independence from British rule on August 16, 1960, Ramesh also said that in the 1950s, India spearheaded the international campaign for the full decolonisation of the island.
In the context of today's geopolitics it is worthwhile to recall that India's championing of the independence of Cyprus in the 1950s and thereafter became a sore point in our bilateral relations with Turkey, he said.
Terming Cyprus a "reliable partner" for India, Prime Minister Modi on Sunday called for strengthening bilateral cooperation, which has "immense potential for growth".
Modi, who arrived in Nicosia on the first leg of his three-nation tour, made the remarks while attending a business roundtable along with Cypriot President Nikos Christodoulides.
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Karnataka Cabinet ratifies decisions on internal reservation for SCs
Bengaluru (PTI): The Karnataka Cabinet has ratified its earlier decisions on internal reservation for Scheduled Castes and approved key modifications to streamline recruitment, including withdrawal and reissue of notifications and adoption of a 400-point roster system.
Briefing reporters after the meeting, Karnataka Law and Parliamentary Affairs Minister H K Patil on Thursday said the Cabinet reaffirmed its commitment to implementing internal reservation within the 15 per cent SC quota and expediting long-pending recruitment across departments.
"The Cabinet ratified decisions taken in earlier meetings (April 16 and April 24) and made modifications regarding reservation policies," Patil said.
He said the government will implement internal reservation within the 15 per cent quota for Scheduled Castes in specified proportions and revise recruitment notifications accordingly, with a 400-point roster to be followed.
If fewer than three roster points for SC arise in recruitment, then all 101 Scheduled Caste communities will be allowed to compete under SC general, he said.
Patil added that recruitment notifications issued without incorporating internal reservation will be withdrawn and reissued in line with the revised policy.
"If the Supreme Court approves 24 per cent reservation for SC/ST, six per cent backlog posts will be filled," he said, noting that urgent steps will be taken to fill 56,432 approved posts.
The latest decision follows the Cabinet's April 24 resolution that cleared a revised internal reservation formula within the overall 15 per cent SC quota, paving the way for long-pending government recruitment. The government had approved 5.25 per cent reservation each for the "right-hand" and "left-hand" groups, and about 4.5 per cent for other Scheduled Castes, including nomadic communities.
Chief Minister Siddaramaiah had then said the categorisation was worked out proportionately within the constitutional ceiling. "From tomorrow onwards, the recruitment process will begin with the issuance of notifications," he had said after the April 24 Cabinet meeting.
He also noted that the SC quota was fixed at 15 per cent and ST at three per cent in line with the 50 per cent cap laid down in the Indra Sawhney case, while pointing out that the Supreme Court had permitted internal reservation within constitutional limits.
