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Mahua Moitra's speech on Adani controversy
Brut India
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2/7/2023
Before she used an expletive at a BJP MP in Lok Sabha, Mahua Moitra said this on the Adani issue...
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00:00
I want to talk about the most famous person in India today.
00:03
Unfortunately for this house, it is not the Honourable Prime Minister.
00:07
It is a man whose name starts with an A and ends with an I.
00:11
Honourable Prime Minister, this man, Mr. A, has topi panaued you.
00:30
Consider this after 10 years also.
01:01
I want to talk about the most famous person in India today.
01:04
Unfortunately for this house, it is not the Honourable Prime Minister.
01:08
It is a man whose name starts with an A and ends with an I.
01:11
And no, it is not Advani.
01:13
For the purposes of this speech, let me just call him Mr. A.
01:17
And his group, the A Company.
01:19
I want to start off by saying as an ex-investment banker, I want companies to thrive.
01:23
But I want honest, hard-working Indian companies to strive,
01:26
and not trapeze artists, as an MP colleague of mine likes to say.
01:29
The chair always asks me not to get angry.
01:32
I will not be angry for what I have to say.
01:34
I will only say that we've all been fooled.
01:36
I have brought this topi with me because this man has topi panaued this wonderful nation.
01:42
I will start with wearing this topi.
01:45
I have some extra for others who feel the same.
01:49
The pride of India lies not in the wealth of one individual.
01:52
The pride of India lies in the robustness of its institutional structures.
01:57
I don't want to get into a Wall Street short-seller's allegations.
02:01
I want answers.
02:03
Sir, Mr. Chairperson, sir, are you going to do your job,
02:06
and please ask the Honourable Gentleman to sit down.
02:09
Honourable Member, if you continue to disturb like this, you will be dismissed.
02:14
You will be dismissed. Don't disturb like this again and again.
02:18
I want answers to what I had asked in this Parliament.
02:21
What I have raised over and over again since 2019.
02:24
In this House, in my repeated letters on record to the SEBI, to the CVC, to the DRI, the CBDT, and the Finance Ministry.
02:32
It is a shame for us. It is a shame for our investigative agencies
02:35
that these allegations against the A Company were only listened to when global entities asked these questions.
02:42
Honourable Prime Minister, this man, Mr. A, has topi panaued you.
02:46
He travels with you on your delegations.
02:49
He meets heads of states on visits to India.
02:51
He portrays that India is the Prime Minister and the Prime Minister is him.
02:55
He makes it appear to the world that he is the remote control behind the Prime Minister.
02:59
And by obliging him, we'll be obliging the Prime Minister.
03:02
Honourable Member, you still have that on your table.
03:07
Which I had said that it should not be.
03:09
Take it off. Take the topi.
03:11
Oh, okay. Sorry, sir. Sorry, sir. Sorry, sir.
03:14
Honourable Home Minister, he has topi panaued you.
03:18
His group companies have amassed nearly 42,000 crores in foreign portfolio investments
03:22
from six Mauritius-based funds.
03:24
These funds have commonalities like common address,
03:27
common company secretary, common directors.
03:29
There is an urgent need to investigate these funds.
03:32
I brought this up in this house since 2019.
03:35
There are media reports that funding into these companies is managed by a Chinese national, Chow Choo Ling.
03:40
There are reports that it's managed by his brother,
03:42
artificially pumping up valuations by using pump and dump.
03:46
His net worth has moved from 9 billion in 2020 to 90 billion in 2022,
03:50
all in the anticipation of a follow-on public offering, an FPO.
03:55
That was to be his moment of crowning glory.
03:57
Madam Finance Minister, he has topi panaued you.
04:00
When your ministry in Parliament tells me that an investigation by the SEBI is ongoing,
04:05
this company puts out a statement saying that they have been exonerated by the highest court of the land.
04:09
Which court? Which nation?
04:11
Why has SEBI been a silent operator?
04:13
Why would they permit a 20,000 crore FPO without completing an investigation report?
04:18
Why didn't SEBI ask whether bankers had signed off on valuation?
04:22
How is Mr. A's son's father-in-law allowed to be on the SEBI Committee on Insider Trading and Corporate Governance?
04:31
How?
04:32
What about the DRI? What about Customs? What about GST?
04:36
The Foreign Investigative Window of Income Tax?
04:38
What are they doing?
04:39
This is deception of the highest order.
04:41
This man has been permitted to use the LIC, to use SBI, to use the PSU banks to get money as and when he likes.
04:48
LIC already has 36,000 crore exposure to the group.
04:52
SBI has outstanding loans of 27,000 crores.
04:55
Why were they again anchor investors in the FPO?
04:58
Honourable Civil Aviation Minister, he has topi panaued you in many ways.
05:02
The Finance Minister said everything given to this company was by transparent tender.
05:06
I have demonstrated in this house that the Dhamra LNG terminal shows that it is not awarded by tender.
05:11
Every day the Fake News Brigade, the Chaddi Brigade, floats new theories.
05:15
Is it an American investment bank? Is it Ambani? Is it China?
05:19
Nobody is behind Mahua. Mahua is behind the truth.
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