NEW DELHI: The Congress celebration on Tuesday handed a decision to organise a nationwide protest on August 22, urgent the federal government to determine a Joint Parliamentary Committee (JPC) to research allegations made by US-based agency Hindenburg Analysis in opposition to the Sebi chief and the Adani Group.
“In the present day, we held a gathering with AICC normal secretaries, incharges, and PCC presidents beneath the management of Congress president Mallikarjun Kharge.We mentioned one of many greatest scandals at present affecting the nation—the Hindenburg revelations, and the rip-off involving Adani and Sebi. We have now demanded the formation of a JPC,” Congress MP KC Venugopal acknowledged.
Hindenburg Analysis, which has beforehand raised critical considerations in regards to the Adani Group, launched a brand new weblog submit on Saturday concentrating on Sebi chairperson Buch. The submit alleged that Buch and her husband maintain undisclosed stakes in offshore funds supposedly used within the Adani cash laundering scheme.
The analysis agency additionally criticized Sebi for its alleged lack of enthusiasm in investigating Adani’s purported community of shell corporations based mostly in Mauritius and different offshore places. “Sebi has proven a stunning lack of curiosity in Adani’s alleged undisclosed community of Mauritius and offshore shell entities,” the Hindenburg report stated.
In response, the Adani Group firmly rejected the most recent claims from Hindenburg Analysis, dismissing them as “distractions from a determined group that exhibits full disregard for Indian legal guidelines.”
What’s a JPC?
A Joint Parliamentary Committee is an advert hoc physique shaped to assessment a selected invoice introduced earlier than Parliament or to research circumstances of nationwide significance. The JPC is established for a specific interval to handle a specific subject.
The panel is shaped both by a joint consensus of each homes when a movement is adopted in a single and concurred within the different or by session between the presiding officers of each homes. The variety of members appointed on a committee just isn’t mounted, however typically the members are appointed in such a manner as to incorporate the utmost variety of events or teams in the home.
The JPC has the authority to collect proof from consultants, public our bodies, associations, people, or events, both by itself initiative or in response to their requests. The proceedings and findings of the committee are confidential, besides when within the public curiosity. The federal government could select to withhold paperwork if they’re deemed prejudicial to nationwide safety or pursuits.
An investigation by the JPC requires session with consultants, public our bodies and even events. In technical issues, the JPC can even appoint consultants. Other than this, the committee can even invite ideas/views from most people on its phrases of references.
The committee’s suggestions are advisory and never binding on the federal government.
The Congress has additionally demanded a JPC to research the Adani Group in Could 2023 after a Supreme Court docket-appointed professional committee’s discovered that there was no proof of inventory value manipulation in Adani Group corporations.
Until now the nation has witnessed seven investigative JPCs
Bofors rip-off, 1987
The primary investigative JPC was established in 1987 following allegations that the Swedish armaments firm Bofors had paid kickbacks to Indian politicians. The committee was shaped after the opposition, with help from then Finance Minister VP Singh, disrupted Parliament for a number of days. Regardless of the JPC’s findings, the report was rejected by the Opposition, which boycotted the committee, claiming it was biased because it was dominated by Congress MPs.
Harshad Mehta rip-off, 1992
In 1992, the second JPC was set as much as examine the Harshad Mehta rip-off. Mehta and different brokers had been accused of illegally utilizing funds from the banking system and public sector organizations to govern the inventory market. Even after the JPC submitted its report, it took 5 years to determine a particular courtroom and provoke prosecution, and most of the committee’s suggestions weren’t applied.
Ketan Parekh share rip-off, 2001
The third JPC was constituted in 2001 to look at the Ketan Parekh share rip-off and the connections between Parekh, banks, and varied company entities. Though the committee made suggestions for modifications within the inventory market, these had been later diluted.
Comfortable drink pesticide subject, 2003
The fourth JPC, shaped in 2003, investigated allegations of pesticide residues in smooth drinks and proposed security requirements for drinks. Headed by Nationalist Congress Celebration chief Sharad Pawar, the committee performed 17 sittings and submitted its report on February 4, 2004. The report confirmed the presence of pesticide residues in smooth drinks and really helpful stricter norms for ingesting water.
2G spectrum case, 2011
The fifth JPC was constituted in February 2011 to probe the 2G spectrum case, chaired by PC Chacko. The 30-member panel included 15 opposition members from varied events, who accused Chacko of partisanship and demanded his removing.
AgustaWestland VVIP helicopters case, 2013
In February 2013, A JPC was shaped on February 27, 2013 to inquire into the allegations of fee of bribes within the acquisition of VVIP helicopters by the ministry of defence from M/s Agusta Westland and the function of alleged middlemen within the transaction.
Land acquisition 2015
The fitting to truthful compensation and transparency in land acquisition, rehabilitation and resettlement (Second Modification) Invoice, 2015 has been referred to a Joint Parliamentary Committee comprising members from each Homes, chaired by Shri SS Ahluwalia.
The Congress has additionally demanded a JPC to research the Adani Group in Could 2023 after a Supreme Court docket-appointed professional committee’s discovered that there was no proof of inventory value manipulation in Adani Group corporations.
Private knowledge safety invoice 2019
The Private Information Safety Invoice 2019 (PDP Invoice 2019) was launched within the Indian Parliament by the Ministry of Electronics and Info Expertise (MeitY) on December 11, 2019. The Invoice is beneath assessment by a JPC, which has been consulting with consultants and stakeholders. Fashioned in December 2019 and chaired by BJP Member of Parliament Meenakshi Lekhi, the JPC was initially given a brief deadline to finalize the draft legislation earlier than the Price range Session of 2020. Nonetheless, the committee has requested further time to completely examine the Invoice and have interaction with stakeholders.
“In the present day, we held a gathering with AICC normal secretaries, incharges, and PCC presidents beneath the management of Congress president Mallikarjun Kharge.We mentioned one of many greatest scandals at present affecting the nation—the Hindenburg revelations, and the rip-off involving Adani and Sebi. We have now demanded the formation of a JPC,” Congress MP KC Venugopal acknowledged.
Hindenburg Analysis, which has beforehand raised critical considerations in regards to the Adani Group, launched a brand new weblog submit on Saturday concentrating on Sebi chairperson Buch. The submit alleged that Buch and her husband maintain undisclosed stakes in offshore funds supposedly used within the Adani cash laundering scheme.
The analysis agency additionally criticized Sebi for its alleged lack of enthusiasm in investigating Adani’s purported community of shell corporations based mostly in Mauritius and different offshore places. “Sebi has proven a stunning lack of curiosity in Adani’s alleged undisclosed community of Mauritius and offshore shell entities,” the Hindenburg report stated.
In response, the Adani Group firmly rejected the most recent claims from Hindenburg Analysis, dismissing them as “distractions from a determined group that exhibits full disregard for Indian legal guidelines.”
What’s a JPC?
A Joint Parliamentary Committee is an advert hoc physique shaped to assessment a selected invoice introduced earlier than Parliament or to research circumstances of nationwide significance. The JPC is established for a specific interval to handle a specific subject.
The panel is shaped both by a joint consensus of each homes when a movement is adopted in a single and concurred within the different or by session between the presiding officers of each homes. The variety of members appointed on a committee just isn’t mounted, however typically the members are appointed in such a manner as to incorporate the utmost variety of events or teams in the home.
The JPC has the authority to collect proof from consultants, public our bodies, associations, people, or events, both by itself initiative or in response to their requests. The proceedings and findings of the committee are confidential, besides when within the public curiosity. The federal government could select to withhold paperwork if they’re deemed prejudicial to nationwide safety or pursuits.
An investigation by the JPC requires session with consultants, public our bodies and even events. In technical issues, the JPC can even appoint consultants. Other than this, the committee can even invite ideas/views from most people on its phrases of references.
The committee’s suggestions are advisory and never binding on the federal government.
The Congress has additionally demanded a JPC to research the Adani Group in Could 2023 after a Supreme Court docket-appointed professional committee’s discovered that there was no proof of inventory value manipulation in Adani Group corporations.
Until now the nation has witnessed seven investigative JPCs
Bofors rip-off, 1987
The primary investigative JPC was established in 1987 following allegations that the Swedish armaments firm Bofors had paid kickbacks to Indian politicians. The committee was shaped after the opposition, with help from then Finance Minister VP Singh, disrupted Parliament for a number of days. Regardless of the JPC’s findings, the report was rejected by the Opposition, which boycotted the committee, claiming it was biased because it was dominated by Congress MPs.
Harshad Mehta rip-off, 1992
In 1992, the second JPC was set as much as examine the Harshad Mehta rip-off. Mehta and different brokers had been accused of illegally utilizing funds from the banking system and public sector organizations to govern the inventory market. Even after the JPC submitted its report, it took 5 years to determine a particular courtroom and provoke prosecution, and most of the committee’s suggestions weren’t applied.
Ketan Parekh share rip-off, 2001
The third JPC was constituted in 2001 to look at the Ketan Parekh share rip-off and the connections between Parekh, banks, and varied company entities. Though the committee made suggestions for modifications within the inventory market, these had been later diluted.
Comfortable drink pesticide subject, 2003
The fourth JPC, shaped in 2003, investigated allegations of pesticide residues in smooth drinks and proposed security requirements for drinks. Headed by Nationalist Congress Celebration chief Sharad Pawar, the committee performed 17 sittings and submitted its report on February 4, 2004. The report confirmed the presence of pesticide residues in smooth drinks and really helpful stricter norms for ingesting water.
2G spectrum case, 2011
The fifth JPC was constituted in February 2011 to probe the 2G spectrum case, chaired by PC Chacko. The 30-member panel included 15 opposition members from varied events, who accused Chacko of partisanship and demanded his removing.
AgustaWestland VVIP helicopters case, 2013
In February 2013, A JPC was shaped on February 27, 2013 to inquire into the allegations of fee of bribes within the acquisition of VVIP helicopters by the ministry of defence from M/s Agusta Westland and the function of alleged middlemen within the transaction.
Land acquisition 2015
The fitting to truthful compensation and transparency in land acquisition, rehabilitation and resettlement (Second Modification) Invoice, 2015 has been referred to a Joint Parliamentary Committee comprising members from each Homes, chaired by Shri SS Ahluwalia.
The Congress has additionally demanded a JPC to research the Adani Group in Could 2023 after a Supreme Court docket-appointed professional committee’s discovered that there was no proof of inventory value manipulation in Adani Group corporations.
Private knowledge safety invoice 2019
The Private Information Safety Invoice 2019 (PDP Invoice 2019) was launched within the Indian Parliament by the Ministry of Electronics and Info Expertise (MeitY) on December 11, 2019. The Invoice is beneath assessment by a JPC, which has been consulting with consultants and stakeholders. Fashioned in December 2019 and chaired by BJP Member of Parliament Meenakshi Lekhi, the JPC was initially given a brief deadline to finalize the draft legislation earlier than the Price range Session of 2020. Nonetheless, the committee has requested further time to completely examine the Invoice and have interaction with stakeholders.
