Probe by SC panel better than JPC on Adani issue: Pawar

The Supreme Court-constituted panel, appointed by the Chief Justice of India, to probe the Gautam Adani-led Adani Group will prove to be more effective than a Joint Parliamentary Committee (JPC) as sought by the Congress, Nationalist Congress Party (NCP) chief Sharad Pawar said on Saturday.

Besides NCP, the Trinamool Congress (TMC) has also supported a court-monitored probe on the Adani issue.

Pawar said a probe by JPC may prove to be futile as the panel may comprise more members from the Bharatiya Janata Party (BJP), which enjoys a majority in Parliament. “In view of the present strength of BJP in Parliament, it would be more rational to accept the SC panel to probe the Adani issue,” Pawar said.

State Congress chief spokesperson Atul Londhe, however, insisted for a JPC probe. “Why is the ruling BJP scared of forming a JPC ?” he said.

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American securities research firm Hindenburg Research has accused the Adani Group of fraud and stock manipulation. The conglomerate has denied the charges.

Last month, the Supreme Court ordered a probe into the matter and set up an experts committee to be headed by its retired judge AM Sapre. It also sought a status report from markets regulator Securities and Exchange Board of India (SEBI) on its ongoing investigation within two months.

Several opposition parties, led by the Congress, have been seeking a JPC probe into the report. Both the first half of the Budget session and the ongoing second half have witnessed bitter exchanges between the government and the Opposition over repeated disruptions on the matter.

The TMC, however, said it supports a court-monitored probe in the matter. “We have nothing to do with the demand of other parties for a JPC probe on the Adani issue. We want a court-monitored probe,” TMC’s parliamentary leader Derek O’Brien said last month.