Congress Says SEBI Probe of Adani Group Hampered by Tax-Haven Secrecy During Modi’s Cyprus Visit
Opposition leaders warn that the absence of data from jurisdictions such as Cyprus is obstructing key financial investigations as Modi pushes to boost bilateral ties
Overview
- Congress general secretary Jairam Ramesh argues that SEBI’s inquiries into Adani transactions are impeded by tax-haven countries withholding crucial information and insufficient diplomatic pressure
- He highlights that a central figure in the alleged irregularities holds Cypriot citizenship and underscores its relevance to Modi’s visit
- Ramesh states that Cyprus-based fund New Leaina holds about $420 million in Adani companies and that its ultimate owners are linked to Amicorp’s network of offshore entities
- The Adani Group rejects all accusations as false and maintains it complies with all legal and disclosure requirements
- On the first leg of his three-nation tour, Modi described Cyprus as a reliable partner and called for deeper cooperation based on India’s role in its decolonization