Rahul Gandhi targets Adani over coal pricing issue, says 'this is direct theft, would bring down any govt’

Congress leader Rahul Gandhi on Wednesday cited a recent report by UK's Financial Times to accuse the Adani Group of over-invoicing in coal imports and fleecing people to the tune of Rs 12,000 crore in electricity rates.

Addressing a press conference at the AICC headquarters here, Gandhi attacked Prime Minister Narendra Modi, asking him to come clean on the Adani issue by initiating a probe into the matter and defend his credibility.

''Why is the prime minister silent on the issue…I am only helping the prime minister and asking him to come clean by starting an investigation and defend his credibility,'' Gandhi said.

The former Congress chief displayed a recent Financial Times report at the press conference which claimed that the Adani Group appears to have imported billions of dollars of coal at prices well above market value.

Gandhi claimed that as per the report Adani over-invoiced coal imports and took out Rs 12,000 crore from ''people's pockets''.

Adani bought coal in Indonesia and when it reached India, its price doubled, Gandhi alleged, citing the report.

Gandhi claimed this over-invoicing of coal was having an impact on electricity rates in the country and leading to consumers paying higher electricity bills. He also said that this story would have brought down any government in the world but no action was being taken in India.

"Adani buys coal in Indonesia and by the time the coal arrives in India, its price doubles. Our electricity prices are going up. He (Adani) takes money from the poorest people. This story would bring down any government. This is direct theft," said the Congress leader. 

''Adani has full protection of the government, everyone know which power is behind him,'' he said.

"This time the theft is happening from the pockets of the public.When you push the button for a switch, Adani gets money in his pocket.Enquiry is happening in different countries, and people are asking questions, but nothing is happening in India," he said.

The opposition party has also been questioning the financial dealings of billionaire Gautam Adani's Group after US short seller Hindenburg Research alleged ''irregularities'' and charged it with stock price manipulation.

The Adani Group has denied all the allegations made in the Hindenburg report and claimed there had been no wrongdoing on its part. There was no immediate response from the conglomerate on the fresh allegations.

Earlier this month, the Adani Group had said there is a renewed attempt by the Financial Times to rehash old and baseless allegations to tarnish its name and standing. In a media statement, Adani Group said on October 9 that these articles were part of an extended campaign to advance vested interests under the guise of public interest.

With inputs from PTI