'Adani scam' exposed role of tax havens in hiding violation of Indian regulations: Congress
New Delhi (PTI): The Congress on Thursday alleged that the "Adani scam" has exposed the role tax havens play in hiding large-scale violation of Indian laws, and said the issue should have discussed at the recent G20 Summit.
It also said that if a Joint Parliamentary Committee (JPC) probe is ordered into the allegations against the Adani Group, it will have to make sure that any loopholes for round-tripping and money-laundering are effectively shut.
In a post on X, Congress general secretary Jairam Ramesh said the rise in Indian outward direct investment in the past 25 years has been a sign of deepening globalisation.
"However, it is disturbing that offshore tax havens like Bermuda, Jersey and Cyprus rank among the top 10 destinations for Indian investment, according to the RBI," he said.
This is in addition to Mauritius that has long been suspected as a preferred destination for Indian money-laundering and round-tripping, the Congress leader noted.
"The Adani MegaScam has exposed the critical role such tax havens play in hiding the large-scale violation of Indian laws and regulations. These violations are hollowing out our economy and affecting the credibility of our stock markets," Ramesh said.
"The G20 was the right forum to take up this issue and ensure concrete action against tax havens. But the Prime Minister was busy projecting his own image rather than protecting India's interests," he claimed.
"A JPC into the Adani MegaScam will have to make sure that any remaining loopholes for round-tripping and money-laundering are effectively shut," the Congress leader said.
The Congress and other opposition parties have been demanding a JPC probe into the Adani issue and will take up the issue during the upcoming special session of Parliament from September 18 to 22.
US short-seller Hindenburg Research, in a report released on January 24, alleged accounting fraud, stock price manipulation and use of tax havens by the Adani Group, triggering a stock market rout.
The Adani Group has denied all allegations by Hindenburg.
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Jasprit Bumrah set for comeback in Mumbai Indians’ IPL clash against RCB
Mumbai, Apr 6 (PTI): Ace Indian pacer Jasprit Bumrah is set for a comeback here on Monday after he joined the Mumbai Indians’ camp ahead of their IPL clash against Royal Challengers Bengaluru.
Bumrah had been sidelined with a back-related issue since early January during the fifth and final Test of the Australian tour and missed key assignments such as the Champions Trophy last month.
Mumbai Indians’ head coach Mahela Jayawardene confirmed on the eve of their IPL clash against RCB that Bumrah is set for a comeback.
“Yeah, he is available. He is training today, so he should be available tomorrow,” Jayawardene said.
Rohit Sharma, who had missed the last game against Lucknow Super Giants due to a blow to his knee, batted in the nets here at the Wankhede Stadium on Sunday and could be fit for the RCB clash as well.
“Ro (Rohit) looks good. He is going to bat today. It was just an unfortunate impact on his leg while batting so, it was not comfortable. We were travelling yesterday. He will have a hit today and then we will do an assessment on that,” Jayawardene said.
Asked if there were no injury concerns in the MI camp, the head coach replied, “Not that I know of.”
