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New Delhi: Key opposition leaders, together with former Congress chief Rahul Gandhi, launched a contemporary assault on the federal government on Wednesday following a information report claiming {that a} key investor in Adani Group can also be co-owner with the conglomerate of a protection firm. Congressman Wayanad requested why India’s nationwide safety was being “compromised” by giving management of strategic protection tools to unknown international entities.

An article in a serious newspaper claimed that ELARA India Opportunities Fund (Elara IOF), a enterprise capital fund managed by Elara Capital, is among the 4 fundamental entities registered in Mauritius which primarily owns shares within the firms of the Adani group.

According to the report, data present that together with the Adani Group, it’s a promoter entity of a protection firm, Alpha Design Technologies Private Limited, based mostly in Bengaluru.

This protection firm, integrated in 2003, works intently with ISRO and DRDO and has a Rs 590 crore contract with the Union Ministry of Defense in 2020 to improve and digitize growing old programs of Pechora missiles and radar, based on the report.

Sharing the screenshot from the media report on Twitter, Rahul Gandhi mentioned, “India’s missile and radar upgrade contract is awarded to a company owned by Adani and a dubious foreign entity called Elara “Who controls Elara? Why is India’s nationwide safety compromised by giving management of strategic protection tools to unknown international entities?”

Trinamool Congressman Mahua Moitra additionally shared screenshots of the report on Twitter and lashed out on the authorities. “‘Chhupa Rustom’ category award at Oscars goes to @DRDO_India and @PIBHomeAffairs. Glad to have unknown foreign funds controlling sensitive defense contracts! Only for their best friend Mr. Adani,” he mentioned. she tweeted.

Citing the identical media report, Shiv Sena (Uddhav Thackeray) MP Priyanka Chaturvedi mentioned on Twitter: “It’s in India’s defense space, a key investor in Mauritius-based Adani Group Elara IOF, with 96% of its corpus invested in the group until December 22 is also a co-owner of a defense company, the company works closely with ISRO and DRDO, both of which jointly own more than 51% of the capital. Incredible coincidence!”

Opposition events continued of their assaults on the federal government. It comes weeks after shares of the Adani Group took a beating on inventory exchanges following US-based quick vendor Hindenburg Research making a litany of allegations together with fraudulent buying and selling and manipulation share worth, on the conglomerate.

The Adani Group dismissed the accusations as lies, saying it was complying with all legal guidelines and disclosure necessities.

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