'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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Bengaluru: Woman dies after being hit by luxury car driven by 'drunk' youth
Bengaluru (PTI): A 30-year-old woman died after she was hit by a luxury car being driven by a youth, who was allegedly under the influence of alcohol, police said on Tuesday.
Dhanush (20) was arrested, they said, adding that he has been sent to judicial custody.
According to police, Sandhya A S was crossing the road near the Kengeri TTMC (Traffic and Transit Management Centre) on the busy Mysuru Road on Saturday when she was hit by the Mercedes Benz car which then crashed into a bike.
After the accident, the accused tried to flee from the spot but was caught by bystanders who allegedly thrashed him.
The injured woman and the biker identified as Syed Arbaz (23), were immediately rushed to a hospital where Sandhya was declared brought dead on arrival. Arbaz was treated for minor inuries, a senior traffic police official said.
"An alcometer test of the accused driver showed that he had 177 mg/100 ml of blood alcohol content, which was way higher than the legally permissible limit of 30 mg/100 ml," he said, citing preliminary inquiry.
Dhanush's father owns a private bus travels company.
"We have registered a case under sections 281 (rash driving or riding on a public road), 125 A (Act endangering life or personal safety of others) and 105 (culpable homicide not amounting to murder) of the Bharatiya Nyaya Sanhita against the accused car driver at Kengeri traffic police station and arrested him," a traffic official said.
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