Congress Demands Supreme Court Intervention in Adani Investigation Amidst Swiss Revelations

The Congress has urged the Supreme Court to take control of the Adani investigation and for a joint parliamentary committee to look into the alleged 'scam.' This follows Swiss authorities freezing USD 311 million of Adani proxy accounts due to suspected money laundering and securities forgery, claims rejected by the Adani Group.

The Congress on Friday demanded that the Supreme Court take control of the Adani investigation and for a joint parliamentary committee to probe the alleged 'scam.' This follows reports claiming Swiss authorities had frozen USD 311 million (Rs 2,610 crore) of an alleged Adani proxy's funds.

Congress General Secretary Jairam Ramesh stated that recent news revealed the Swiss Public Prosecutors Office has frozen five accounts containing USD 311 million belonging to longtime 'Adani confidant' Chang Chung-Ling. This action was a result of an investigation by Switzerland's Money Laundering Reporting Office (MROS) initiated on December 28, 2021.

US-based short-seller Hindenburg Research, which had previously targeted the Adani group, cited Swiss criminal records indicating that 'Swiss authorities have frozen more than USD 310 million in multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back to 2021.' The Adani Group has dismissed the allegations as baseless.

(With inputs from agencies.)