Joint Parliamentary Committee – Artifex.News https://artifexnews.net Stay Connected. Stay Informed. Tue, 13 Aug 2024 14:45:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://artifexnews.net/wp-content/uploads/2023/08/cropped-Artifex-Round-32x32.png Joint Parliamentary Committee – Artifex.News https://artifexnews.net 32 32 5 Reasons Why Harish Salve Says Parliamentary Panel Into Hindenburg Report Will Set Wrong Precedent https://artifexnews.net/5-reasons-why-harish-salve-says-parliamentary-panel-into-hindenburg-report-will-set-wrong-precedent-6330077rand29/ Tue, 13 Aug 2024 14:45:15 +0000 https://artifexnews.net/5-reasons-why-harish-salve-says-parliamentary-panel-into-hindenburg-report-will-set-wrong-precedent-6330077rand29/ Read More “5 Reasons Why Harish Salve Says Parliamentary Panel Into Hindenburg Report Will Set Wrong Precedent” »

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Mr Salve said it is “shameful” that a section of political leaders are taking Hindenburg seriously.

In the wake of the latest allegations made by US short-seller Hindenburg Research, legal expert and Senior Advocate Harish Salve has warned that giving credence to organisations like that will lead to them questioning India’s judiciary one day.

Here Are Five Points On This Big Story:

  1. Speaking exclusively to NDTV on Tuesday, Mr Salve addressed the opposition’s demand for a joint parliamentary committee to investigate Hindenburg’s latest allegations that Securities Exchange Board of India (SEBI) chairperson Madhabi Puri Buch and her husband, Dhaval, had a stake in offshore entities used in alleged financial wrongdoing by the Adani Group. 

  2. The former solicitor general said a joint parliamentary committee (JPC) is not an appellate body and such panels are set up in rare cases, when there are issues of national importance. Mr Salve stressed that the push for a JPC probe is undermining the authority of the Supreme Court and a regulatory body like the SEBI.

  3. “Tomorrow you will ask for a JPC investigation into the Supreme Court’s decision on reservation or electoral bonds… This is not what the Parliament is meant for,” Mr Salve told NDTV, adding that in cases of alleged breach of law, the Supreme Court’s order is the last word. “Can a Parliamentary committee negate the Supreme Court’s observations?” he asked. 

  4. “In any other country, people would have said the Hindenburg report belongs in a garbage bin. Hindenburg is trying to browbeat SEBI. There should be a tribunal for defamation in India. Tomorrow, such bodies won’t spare even judges,” Mr Salve told NDTV. 

  5. The legal expert also said it is “shameful” that a section of political leaders are taking Hindenburg seriously. “Why do people get away with wild allegations? In India, we don’t respect people’s reputations, it is time we started taking reputations seriously,” Mr Salve said, accusing the short-seller of “mocking India”.



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]]> ‘Adani scam’ exposed role of tax havens in hiding violation of Indian regulations: Jairam Ramesh https://artifexnews.net/article67306287-ece/ Thu, 14 Sep 2023 07:31:44 +0000 https://artifexnews.net/article67306287-ece/ Read More “‘Adani scam’ exposed role of tax havens in hiding violation of Indian regulations: Jairam Ramesh” »

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Senior Congress leader Jairam Ramesh. File
| Photo Credit: The Hindu

The Congress on September 14 alleged that the “Adani scam” has exposed the role tax havens play in hiding large-scale violation of Indian laws and said the issue should have been discussed at the recent G20 Summit.

It also said that if a Joint Parliamentary Committee (JPC) probe is ordered into the allegations against the Adani Group, it will have to make sure that any loopholes for round-tripping and money-laundering are effectively shut.

In a post on X, Congress general secretary Jairam Ramesh said the rise in Indian outward direct investment in the past 25 years has been a sign of deepening globalisation.

“However, it is disturbing that offshore tax havens such as Bermuda, Jersey and Cyprus rank among the top 10 destinations for Indian investment, according to the RBI,” he said.

“This is in addition to Mauritius that has long been suspected as a preferred destination for Indian money-laundering and round-tripping,” the Congress leader noted.

“The Adani MegaScam has exposed the critical role such tax havens play in hiding the large-scale violation of Indian laws and regulations. These violations are hollowing out our economy and affecting the credibility of our stock markets,” Mr. Ramesh said.

“The G20 was the right forum to take up this issue and ensure concrete action against tax havens. But the Prime Minister was busy projecting his own image rather than protecting India’s interests,” he claimed.

“A JPC into the Adani MegaScam will have to make sure that any remaining loopholes for round-tripping and money-laundering are effectively shut,” the Congress leader said.

The Congress and other Opposition parties have been demanding a JPC probe into the Adani issue and will take up the issue during the upcoming special session of Parliament from September 18 to 22.

U.S. short-seller Hindenburg Research, in a report released on January 24, alleged accounting fraud, stock price manipulation and use of tax havens by the Adani Group, triggering a stock market rout. The Adani Group has denied all allegations by Hindenburg.



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