TNCC opposes contract awarded to Adani Highway Transport to put 124 km of Nationwide Freeway in State

Tamil Nadu Congress Committee (TNCC) president Ok. Selvaperunthagai on Friday opposed the contract awarded to Adani Highway Transport for laying 124 km of the four-lane Tiruchi–Tuvarankurichi-Madurai Nationwide Freeway in Tamil Nadu at a price of ₹1,692 crore.

In an announcement, Mr. Selvaperunthagai stated that Prime Minister Narendra Modi’s administration awarded contracts in varied sectors, together with the Nationwide Highways, to the Adani Group after Hindenburg Analysis’s allegations of monetary irregularities within the Group triggered its shares to droop.

“In January 2023, the Hindenburg Analysis uncovered important irregularities within the Adani Group, resulting in a steep fall in its inventory values. Following the report, Mr. Adani’s market worth dropped by about ₹12 lakh crore, and his rating on the worldwide billionaires’ record plummeted from fourth to twentieth in a single day. Opposition events, together with the Congress, accused the Adani Group of defrauding Indian buyers,” he identified.

He additional stated that the Modi ‘administration was prioritising industrialists over the poor and underprivileged. “On January 15, 2023, the Adani Group’s inventory worth surged by $7.47 billion in a single day. Regardless of allegations [of financial irregularities] supported by proof, the Modi authorities has shielded Adani from investigations,” he stated.

He additional stated: “The Opposition has repeatedly known as out the BJP authorities for its bias towards Adani. But, Prime Minister Modi has did not sever ties with him. Establishments just like the Hindenburg Analysis have introduced out vital details about the nexus [between the BJP government and the Adani Group]. Nevertheless, no motion has been taken to deal with public considerations….”

Regardless of the Supreme Courtroom ordering the Securities and Change Board of India to analyze allegations pertaining to the Adani Group, an inquiry into them has been delayed. “The Adani Group’s companies expanded considerably in opposition to nationwide curiosity in sectors reminiscent of airports, ports, defence, electrical energy, cement, and highways, allegedly as a consequence of Prime Minister Modi’s assist. As taxpayers and residents, folks need to perceive the advantages that Modi and the BJP derive from their ties with Adani. By permitting Adani to amass humongous earnings, the connection between Modi and Adani has been uncovered.”