Congress Raises Concerns Over Cypriot Links in Adani Controversy

The Congress party has alleged that a key figure in the Adani controversy holds Cypriot citizenship, suggesting that the SEBI investigation is hindered by limited cooperation from tax-haven countries. This assertion coincides with Prime Minister Modi's visit to Cyprus, drawing attention to geopolitical dynamics and historical ties with the country.

The Indian National Congress has claimed that a central figure in the Adani controversy possesses Cypriot citizenship, potentially complicating current investigations by the Securities and Exchange Board of India (SEBI). The inquiry into Adani's financial dealings is reportedly obstructed by insufficient data sharing from countries known as tax havens.

These claims surfaced as Prime Minister Narendra Modi visited Cyprus en route to Canada. Congress spokesperson Jairam Ramesh suggested that Modi's stopover in the Mediterranean nation is not merely coincidental, pointing to the presence of significant investments from Cyprus-based funds in Adani companies.

The allegations also revisit the historical context of India's support for Cypriot independence in the 1950s, highlighting the intricate geopolitical ties at play. Meanwhile, the Adani Group has categorically denied all accusations, maintaining compliance with legal and regulatory frameworks.

(With inputs from agencies.)