What Unfolded At The Pawar-Adani Meeting Is Still Mysterious!

Gautami Adani recently met with Nationalist Congress Party president Sharad Pawar at his Mumbai house, only days after Pawar came out in favour of the tycoon following claims of stock manipulation in research by US-based short-seller Hindenburg Research. According to sources, the key meeting at Pawar’s Silver Oak mansion in Mumbai lasted over two hours. It came as the Opposition demanded a Joint Parliamentary Committee (JPC) examination into the matter. 

Sharad Pawar expressed his assistance to the Adani group last month, challenging the narrative around the Hindenburg report on the corporation. Taking a stance contrary to its ally, the Congress, Pawar stated that a Supreme Court committee should investigate the charges against the Adani group because the Bhartiya Janta Party will have a majority in the JPC owing to numerical strength in parliament, casting doubt on such an investigation. The NCP head later stated that, while his party does not agree with the anti-BJP parties’ demands for a JPC inquiry, it will not oppose their stand for opposition unity.

The conference is significant in light of recent developments involving the NCP in Maharashtra, including allegations of Pawar’s nephew, Leader of Opposition in the Assembly, Ajit Pawar, jumping over to or supporting the BJP alongside his group. His comments cast doubt on Opposition unity in the Western state since the NCP is a partner in the Maha Vikas Aghadi, which also includes the Shiv Sena (UBT) and the Congress. 

However, the Pawar uncle-nephew had issued vociferous denials, and both were recently photographed together at an occasion. Pawar, a former four-time Maharashtra Chief Minister and three-time Union minister, and Adani last met at Baramati, Pune, on June 16, 2022, when the founder of the Ahmedabad-based Adani Group launched the Agricultural Development Trust’s scientific park. 

He had also attended the farewell ceremony of the ‘Sharad Pawar Inspire Fellowship in Agriculture boot camp. Pawar Senior, Pawar Junior, who was then Deputy Chief Minister and is now an MLA from Baramati, his daughter, Baramati MP Supriya Sule, and his grand-nephew, Karjat-Jamkhed MLA Rohit Pawar, were all there. However, this visit comes on the heels of Pawar Senior recently splitting with Opposition parties and the Congress to express his worries over a Joint Parliamentary Committee (JPC) investigation into the Adani Group-Hindenburg Report problem.

Is there any feud between Pawar and his party in the Adani case?

Though his party has supported the JPC, Mr Pawar feels that JPC will be dominated by the ruling party. Thus the truth will not come out. Mr Pawar feels that a Supreme Court-monitored panel is a better way to bring out the truth, Pawar stated in a TV interview and later conversation with media personnel. Previously, when Pawar attacked the government of the day, he would mention Tata Birla. They no longer use these names. However, the Tatas have contributed to the country’s progress. People are dealing with more pressing challenges than Adani Ambani, such as unemployment, price increases, and farmer troubles.

Pawar reversed his position, saying, “A friend’s opinion may differ from his, but they must be united in this.” But if his colleagues believe that a JPC investigation is necessary, he will not object. Pawar may disagree with their viewpoint, but he will not allow the Opposition’s power to be weakened.

Last month, the Supreme Court directed the formation of a six-member committee led by a former top court judge to investigate different regulatory elements of stock markets, including the recent drop in Adani Group’s shares caused by the Hindenburg claims.

The short-seller levelled many claims against the Adani Group, including fraudulent transactions and share-price manipulation. The Adani Group has denied the allegations, claiming that it complies with all laws and transparency requirements.

Conclusion.

Adani was celebrating the new year in a magnificent way, and suddenly the Hindenburg research report blew away not only the happiness of his kingdom but also the financial strength of his stocks, and they surged down dramatically. Following this event, there were many activities by regulatory bodies such as RBI & SEBI, which included mainly the surveillance of Adani stocks and their impact on the Indian market. But the major point of the highlight was the tussle between the different political parties of the nation. In such a scenario, the incident of Pawar giving a statement contradictory to his party may unleash new colours in the Adani saga!