Adani Group 'fleecing' people's money, claims Rahul Gandhi

NEW DELHI: Rahul Gandhi on Wednesday accused the Adani Group of fleecing the people of India by quoting a media report. Congress leader added that the group is over-invoicing for coal imports, resulting in fleecing Rs 12,000 crore from the "people's pockets" through electricity charges.

Addressing a press conference at the AICC headquarters, Rahul Gandhi also criticised PM Modi for protecting Gautam Adani with his power. He urged the PM to address the Adani issue and defend his credibility.

Congress leader said, "Why is the prime minister silent on the issue...I am only helping the Prime Minister and asking him to come clean by starting an investigation and defend his credibility".

Rahul Gandhi displayed a report from the Financial Times at the press conference which claimed that the Adani Group is importing billions of dollars of coal at prices above the market value. Gandhi claimed that as per the report Adani over-invoiced coal imports and took out Rs 12,000 crore from "people's pockets".

Rahul Gandhi added that Adani bought coal in Indonesia and when it reached India, its price doubled. He claimed this over-invoicing of coal was having an impact on electricity rates in the country, leading to consumers paying higher electricity bills.

He also said that this story would have brought down any government in the world but no action was being taken in India. "The people of India know that Adani is being protected, and we all know who has the power to protect him," alleged Rahul Gandhi.



Other political parties have also been questioning the government about the financial dealings of billionaire Gautam Adani. After the US research firm Hindenburg alleged "irregularities" in the stock of Adani Group and charged them with stock price manipulation.

The Adani Group, however, has denied all the accusations made in the Hindenburg report, asserting that it has not engaged in any wrongdoing.