This Adani 'topi-pehnau-ed' this wonderful nation: Mahua Moitra in Lok Sabha

News Network
February 8, 2023

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New Delhi, Feb 8: TMC MP Mahua Moitra on Tuesday launched a stinging attack on the government over the Adani-Hindenburg issue and said the billionaire businessman had 'topi-pehnau-ed (duped)' the country.

While participating in the debate on the 'Motion of Thanks to the President's Address' in Lok Sabha, Moitra, without naming Adani, said that a famous person whose name starts with 'A' and ends with 'I' and is not Advani, who stinks of crony capitalism, had duped everyone.

Soon after she concluded her speech, there were angry exchanges between Trinamool Congress (TMC) and BJP members. Moitra was heard using certain objectionable words to which the Chair objected and urged members to avoid cuss words.

Parliamentary Affairs Minister Pralhad Joshi asked Moitra to apologise out of morality and said if she does not it would reflect on her culture.

Moitra brought two birthday caps to the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.

She demanded that an enquiry be ordered against the activities of the Adani group.

Beginning her address by quoting from President Droupadi Murmu's address, Moitra said, "Every word I utter is going to be an oblation and offering a truth into my 'maha yagna' of nation building."

"I want to start off by saying as an ex-investment banker, I want companies to thrive. But I want honest, hardworking Indian companies to strive and not trapeze artists. As an MP colleague of mine likes to say the Chair always asked me not to get angry. I will not be angry about what I have to say. I will only say that we've all been fooled," she said.

Moitra also alleged that the businessman gives the impression that doing things for him means that one would be in the prime minister and home minister's good books.

Referring to a statement by the Adani group in which it had said that short-seller Hindenburg's report was a calculated attack on India, she said, "The pride of India is not the wealth of one individual, pride of India lies in the robustness of its institutional structures."

She said a company which is in infrastructure makes five to 15 per cent returns if they are lucky and if they get everything right, but the multiple with which this company 'A' was trading was absolutely outrageous.

Even Google, Amazon and Microsoft don't trade on such multiples, she said.

"Honourable home minister, he has topi-pehnau-ed you...he is getting security clearances from the ministry of home affairs...Madam, finance minister he has topi-pehnau-ed you," the TMC leader said.

"This man has been allowed to use LIC, and SBI to get money as and when he likes. Honourable civil aviation, he has 'topi-pehnau-ed', you shipping minister, he has topi-pehna-ed you petroleum minister, he has 'topi-pehnau-ed' oil PSUs...power minister he has topi-pehnau-ed you," she said.

"India is on its way to becoming the third largest economy in the world. Don't let him smear your time in government, with a stink of crony capitalism. Please immediately order a full complete and thorough investigation into all matters...Our country's reputation is at risk," Moitra said.
She also said the House to has historically seen some of the greatest debates, some friendly, some not-so-friendly sparring matches.

"But it is more and less a sacred place where elected representatives could speak their minds without fear of favour...Today and I say this with a heavy heart, Lok Sabha is a space which stands out more for what cannot be said in this hall, then what can we say. The list of unmentionables is actually far longer than the list of mentionables," she claimed.

"We cannot say China, we cannot say Pegasus, we can not say BBC, we cannot say Morbi, we cannot say Rafael, and sometimes we cannot even say Modi ji...," she said.

The Opposition has been demanding a joint parliamentary committee probe or a Supreme Court-monitored investigation into the allegations of fraud and manipulation made by the US-based short seller Hindenburg Research against billionaire Gautam Adani's companies that triggered an unprecedented stock crash. The group has denied the charges.

The opposition parties have alleged that the meltdown in Adani Group shares is a 'mega scam' that involves common people's money as public sector LIC and SBI have invested in them and have questioned the government on steps taken by it.

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News Network
November 12,2024

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The Taliban regime has appointed Ikramuddin Kamil as the acting consul in the Afghan mission in Mumbai, Afghan media has reported.

It is the first such appointment made by the Taliban set up to any Afghan mission in India.

There was no immediate comment from the Indian side on the appointment that came.

The Ministry of Foreign Affairs of Afghanistan has announced the appointment of Kamil as the acting consul in Mumbai, the Taliban-controlled Bakhtar News Agency reported on Monday, citing unnamed sources.

"He is currently in Mumbai, where he is fulfilling his duties as a diplomat representing the Islamic Emirate," it said.

The appointment is part of Kabul's efforts to strengthen diplomatic ties with India and enhance its presence abroad, the media outlet said

Kamil holds a PhD degree in international law and previously served as the deputy director in the department of security cooperation and border affairs in the foreign ministry, it said.

He is expected to facilitate consular services and represent the interests of Afghanistan in India, the report added.

Kamil's appointment comes days after the external affairs ministry's point-person for Afghanistan held talks with the Taliban's acting defence minister, Mullah Mohammad Yaqoob, in Kabul.

Sher Mohammad Abbas Stanikzai, the Taliban's deputy foreign minister for political affairs, also posted on X about Kamil's appointment.

The appointment of Kamil is seen as part of efforts to facilitate consular services to the Afghan population in Mumbai.

There has been almost negligible presence of diplomatic staff at the Afghan missions in India.

Most of the diplomats appointed by the Ashraf Ghani government have already left India.

In May, Zakia Wardak, the seniormost Afghan diplomat in India, resigned from her position after reports emerged that she was caught at the Mumbai airport for allegedly trying to smuggle 25 kg of gold worth Rs 18.6 crore from Dubai.

Wardak had taken charge as the acting ambassador of Afghanistan to New Delhi late last year, after working as the Afghan consul general in Mumbai for more than two years.

She took charge of the Afghan embassy in New Delhi last November, after the mission helmed by then ambassador Farid Mamundzay announced its closure.

Mamundzay, who was an appointee of the Ghani government, had moved to the United Kingdom.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 14,2024

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Thursday backed Chief Minister Siddaramaiah over his claim that the BJP had offered Rs 50 crore each to 50 Congress MLAs in an attempt to "topple" the state government.

Addressing reporters here, Shivakumar, also the Congress state president, said, “The BJP indeed lured 50 Congress MLAs with Rs 50 crore each.”

He defended Siddaramaiah’s statement and said the Congress MLAs were briefed about the BJP’s alleged 'Operation Lotus', a term used to describe the BJP's attempts to destabilise ruling governments through horse-trading.

“Some of our MLAs informed the Chief Minister about this matter, and he, in turn, shared it with the media,” Shivakumar said.

At an event in Mysuru, Siddaramaiah reiterated the claim that "none of the Congress MLAs had accepted the offer".

He also accused the BJP of filing false cases against him in a bid to "remove him and overthrow his government".

The BJP has yet to respond to the allegations.

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