AAP demands Modi’s resignation amid new Hindenburg revelations

Tribune News Service

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New Delhi, August 11

The Aam Aadmi Party (AAP) has demanded Prime Minister Narendra Modi’s resignation following new revelations from Hindenburg Research regarding the Adani Group. The AAP has accused the Prime Minister of shielding billionaire Gautam Adani from scrutiny, with Rajya Sabha MP Sanjay Singh highlighting alleged manipulation in the Securities and Exchange Board of India (SEBI) investigation, pointing out that SEBI’s Chairperson Madhabi Puri Buch and her husband reportedly invested in the companies under investigation.

Singh claimed that Buch and her husband had significant financial stakes in the offshore companies they were supposed to investigate, creating a conflict of interest. “Hindenburg’s new report reveals that Buch and her husband invested 10 million US dollars in Adani’s fake offshore companies,” Singh said at a press conference on Sunday.

He further alleged that PM Modi was aware of the impending Hindenburg report and abruptly ended the Parliament session three days early to avoid further exposure.

The AAP leader criticised the government for what he called a deliberate attempt to mislead the nation and the courts. He urged the Supreme Court to intervene and launch a Joint Parliamentary Committee (JPC) probe into the scandal. “This is not Adani’s scam, but PM Modi and BJP’s scam, under which the whole country has been handed over to his ‘friend’,” Singh asserted.

He also recounted his experience in Parliament, where he claims he was punished for exposing the Adani scam. “When I raised my voice against this Adani scam in Parliament, the Modi government sent me to jail,” he said, describing his six-month imprisonment as retaliation for speaking out.

The controversy centres around allegations that Adani inflated the value of his companies through the creation of fake offshore entities. According to Singh, this manipulation led to significant financial losses for ordinary investors, including those with stakes in public sector investments like LIC and the New Pension Scheme.

He criticised SEBI’s investigation into the matter, describing it as “directionless” and influenced by conflicts of interest. “The Supreme Court should take cognisance of this, because the truth has been hidden from it. The BJP government at the centre has lied in the court,” Singh argued.

In a pointed attack on the Prime Minister’s integrity, Singh suggested that Modi’s actions were inconsistent with his public stance on corruption. “PM Modi talks big on corruption, guarantees to end corruption and claims of sending corrupts to jail. But when his oath ceremony takes place after the elections, the highest-ranking officers of the Indian Army sit behind, and Adani sits in front of them,” Singh remarked.