Sanjay Singh, a member of the Aam Aadmi Party, claimed on Thursday that he had written a letter to Prime Minister Narendra Modi asking for industrialist Gautam Adani’s passport to be seized.
Sanjay Singh is an Indian politician and a member of the Aam Aadmi Party (AAP).
He was elected as a Member of Parliament (MP) from the state of Uttar Pradesh in the Rajya Sabha (upper house of the Indian Parliament) in January 2020.
Leading up to being hired as an MP, Singh was a prominent face of the AAP and had a variety of positions in the party. He is known for his active involvement in social and political activism and has been a strong voice for the AAP’s ideology and policies.
“I have sent a letter to the PM, ED, and CBI insisting on Adani’s passport being seized, or else,” “Cronies of people in this country will be left with nothing if he leaves the country as well, just like other industrialists and businessmen,” Singh said.
The AAP leader continued his tirade against Gautam Adani, chairman of Adani Enterprises Ltd., by declaring that the latter’s “mountain of lies and fraud is crumbling like a pack of cards.”
“Adani’s mountain of falsehood and deceit is falling apart like a house of cards.” Investors pouring into the nation by the millions are alarmed. those who invested in LIC and SBI, both of which have provided borrowers with loans totaling crores of rupees. The issue needs to be addressed by the prime minister.
The actions taken by the CBI, ED, and RBI should be disclosed by the finance minister.
Why does the government not address such widespread corruption? “FPO is only the start; the mountain of lies will eventually crumble,” he added.
Singh also served Rajya Sabha Chairman Jagdeep Dhankar with a notice to cease operations in which he demanded that the allegations of financial wrongdoing and fraud against the Adani group be discussed.
When giving the notice required by Rule 267, Singh noted that the “Adani Group” has been implicated in a case involving share manipulation, financial irregularities, and widespread fraud.
The Life Insurance Corporation of India (LIC), which owns shares of the Adani Group worth more than Rs 81 thousand crores, suffered a loss of about Rs 16,580 crores as a result of these allegations, he claimed.
Citing the Hindenburg Research Report, he claimed in the notice that the Adani Group’s current debt of more than Rs 2.2 lakh crore puts millions of rupees from many public sector banks in the nation, including the State Bank of India (SBI), at risk.
“The report claims that seven Adani Group listed companies have overvalued themselves by more than 85%.”
These businesses have taken out loans by heavily mortgaging their stock. According to the notice, several cases have been filed against members of Adani’s family and group officials.
He added that despite the Adani Group’s involvement in serious crimes like money laundering and the theft of taxpayers’ money, many government institutions, such as LIC and SBI, continued to invest in the company.
According to him, other indications of broader economic irregularity include the approval of a follow-on public offer (FPO) worth Rs 20,000 crore for the Adani enterprises and the demand for investor money before SEBI’s investigation is finished.
“Taking cognizance of such a serious matter, the sooner the investigation is launched, the sooner the interests of investors and the general public can be safeguarded, as failure to do so will destroy the lives of crores of Indians who invest their money for savings in firms like LIC and SBI.”
In light of the aforementioned serious circumstances, you are respectfully asked to table other House business under Rule 267 so that the House can discuss this very important issue involving the public interest.
Also, read these articles.