‘Did you transfer Indian taxpayers’ money?’: Jairam Ramesh to Centre over Adani issue
2 min read . Updated: 21 Feb 2023, 08:46 PM IST
Premium- Congress General Secretary Jairam Ramesh said his posers relate to a ‘global kleptocratic network’ involving other firms with deep political connections
In another series of ‘Hum Adani Ke Hain Kaun (HAHK)’ questions, the Congress has raised further questions for the government regarding the Adani issue, inquiring about the current progress of the investigation into the purported use of stock parking by shell companies and other entities affiliated with the conglomerate.
Congress General Secretary Jairam Ramesh said his posers relate to a "global kleptocratic network" involving other firms with deep political connections. “This set of questions relates to the seeming involvement of the Adani Group in a global kleptocratic network involving other firms with deep political connections," he said.
The Congress leader identified some Russian and Indian state-owned companies, claiming that there appears to be a questionable trend in which public sector units pay an excessive amount to a Russian company for an oil asset, and then that same Russian company pays a politically-connected private Indian company an inflated price for a separate energy asset.
He said, “As we pointed out in our 19 February 2023 HAHK questions, the Adani Group has done several related party transactions using Russia's VIB Bank which has faced international sanctions for several years. VTB also makes an appearance in the Rosneft Oil purchase of an Essar-owned port and refinery in Gujarat for US$13 billion on 14 October 2016 which, it was widely reported, Russian President Vladimir Putin and you played a critical role in finalising. However, a Russian analyst report stated that we have estimated that Rosneft has agreed to pay at least twice as much as Essar Oil is worth."
“Curiously enough, between 4 September 2015 and 28 October 2016, public sector firms ONGC, Oil India, Indian Oil and Bharat PetroResources together bought a 49.9% stake in the Rosneft Oil subsidiary Vankorneft for US$4.23 billion, in which VIB may also have been involved. Given continuously falling production at Vankommelt and a lack of management control over the asset, the former Russian deputy minister of energy Vladimir Milov stated that ‘the Indian companies have clearly overpaid for the Vankor stakes’."
Jairam Ramesh said that there is a dubious trend where public sector units pay a Russian firm more than what an oil asset is worth, and that same Russian firm pays a politically-connected private Indian company an excessive amount for a different energy asset.
“This is a suspicious pattern in which public sector units overpay a Russian firm for an oil asset, which in turn overpays a politically-connected private Indian firm for another energy asset. Given your direct involvement in the Essar transaction, did you transfer Indian taxpayer money to the pockets of private Indian companies to help finance your political activities?" he asked.
“Chuppi Todiye Pradhan Mantriji!" Jairam Ramesh said.