From IT raids to majority stake in prized assets: Congress flags 'chronology' in Adani Group's acquisitions

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Sanghi Industries Ltd (SIL) from its existing promoter group - Ravi Sanghi and family. Day after the deal was announced Congress leader Jairam Ramesh alleged that the Prime Minister Narendra Modi led government has been ‘handing over’ prized assets to the beleaguered billionaire, all while unleashing probe agencies on Adani Group's competitors.

According to a report by Economic Times, the Income Tax Department had raided the offices of Shree Cement and revealed that they had Iseized documents indicating tax fraud to the tune of at least ₹23,000 crore. Jairam Ramesh flagged ‘chronology’ of events in where he stated that India's third-largest cement producer Shree Cement was reported to be in talks to acquire Sanghi Industries but exit the race after it was raided by the Income Tax department.

Federal investigative agencies have in recent times earned the reputation of being the PM Narendra Modi government's go to weapon to quash anything is has not been in their favour. From raids on ministers who vehemently spoke against the Bhartiya Janata Party (BJP)-led National Democratic Alliance (NDA) or on leaders and ministers who were in cabinets of non-BJP ruling states.

Taking to microblogging site X, formerly known as Twitter, Jairam Ramesh said, “In our Hum Adani ke Hain Kaun (HAHK) series of 100 questions for PM Modi, the Congress party had pointed out how the Adani Group has repeatedly profited from well-timed, Modi-made raids by investigative agencies on its business competitors.". “The latest episode is the chronology of the takeover of Sanghi Industries by the Adani-owned Ambuja Cements.

Our statement on the rise of the Modi-Made Monopolies(3M)." Ramesh added. Ramesh in his tweet alleged that probe agencies were being