Mahua Moitra's speech on Adani controversy

Brut India

Before she used an expletive at a BJP MP in Lok Sabha, Mahua Moitra said this on the Adani issue...

Transcript

00:00I want to talk about the most famous person in India today.

00:03Unfortunately for this house, it is not the Honourable Prime Minister.

00:07It is a man whose name starts with an A and ends with an I.

00:11Honourable Prime Minister, this man, Mr. A, has topi panaued you.

00:30Consider this after 10 years also.

01:01I want to talk about the most famous person in India today.

01:04Unfortunately for this house, it is not the Honourable Prime Minister.

01:08It is a man whose name starts with an A and ends with an I.

01:11And no, it is not Advani.

01:13For the purposes of this speech, let me just call him Mr. A.

01:17And his group, the A Company.

01:19I want to start off by saying as an ex-investment banker, I want companies to thrive.

01:23But I want honest, hard-working Indian companies to strive,

01:26and not trapeze artists, as an MP colleague of mine likes to say.

01:29The chair always asks me not to get angry.

01:32I will not be angry for what I have to say.

01:34I will only say that we've all been fooled.

01:36I have brought this topi with me because this man has topi panaued this wonderful nation.

01:42I will start with wearing this topi.

01:45I have some extra for others who feel the same.

01:49The pride of India lies not in the wealth of one individual.

01:52The pride of India lies in the robustness of its institutional structures.

01:57I don't want to get into a Wall Street short-seller's allegations.

02:01I want answers.

02:03Sir, Mr. Chairperson, sir, are you going to do your job,

02:06and please ask the Honourable Gentleman to sit down.

02:09Honourable Member, if you continue to disturb like this, you will be dismissed.

02:14You will be dismissed. Don't disturb like this again and again.

02:18I want answers to what I had asked in this Parliament.

02:21What I have raised over and over again since 2019.

02:24In this House, in my repeated letters on record to the SEBI, to the CVC, to the DRI, the CBDT, and the Finance Ministry.

02:32It is a shame for us. It is a shame for our investigative agencies

02:35that these allegations against the A Company were only listened to when global entities asked these questions.

02:42Honourable Prime Minister, this man, Mr. A, has topi panaued you.

02:46He travels with you on your delegations.

02:49He meets heads of states on visits to India.

02:51He portrays that India is the Prime Minister and the Prime Minister is him.

02:55He makes it appear to the world that he is the remote control behind the Prime Minister.

02:59And by obliging him, we'll be obliging the Prime Minister.

03:02Honourable Member, you still have that on your table.

03:07Which I had said that it should not be.

03:09Take it off. Take the topi.

03:11Oh, okay. Sorry, sir. Sorry, sir. Sorry, sir.

03:14Honourable Home Minister, he has topi panaued you.

03:18His group companies have amassed nearly 42,000 crores in foreign portfolio investments

03:22from six Mauritius-based funds.

03:24These funds have commonalities like common address,

03:27common company secretary, common directors.

03:29There is an urgent need to investigate these funds.

03:32I brought this up in this house since 2019.

03:35There are media reports that funding into these companies is managed by a Chinese national, Chow Choo Ling.

03:40There are reports that it's managed by his brother,

03:42artificially pumping up valuations by using pump and dump.

03:46His net worth has moved from 9 billion in 2020 to 90 billion in 2022,

03:50all in the anticipation of a follow-on public offering, an FPO.

03:55That was to be his moment of crowning glory.

03:57Madam Finance Minister, he has topi panaued you.

04:00When your ministry in Parliament tells me that an investigation by the SEBI is ongoing,

04:05this company puts out a statement saying that they have been exonerated by the highest court of the land.

04:09Which court? Which nation?

04:11Why has SEBI been a silent operator?

04:13Why would they permit a 20,000 crore FPO without completing an investigation report?

04:18Why didn't SEBI ask whether bankers had signed off on valuation?

04:22How is Mr. A's son's father-in-law allowed to be on the SEBI Committee on Insider Trading and Corporate Governance?

04:31How?

04:32What about the DRI? What about Customs? What about GST?

04:36The Foreign Investigative Window of Income Tax?

04:38What are they doing?

04:39This is deception of the highest order.

04:41This man has been permitted to use the LIC, to use SBI, to use the PSU banks to get money as and when he likes.

04:48LIC already has 36,000 crore exposure to the group.

04:52SBI has outstanding loans of 27,000 crores.

04:55Why were they again anchor investors in the FPO?

04:58Honourable Civil Aviation Minister, he has topi panaued you in many ways.

05:02The Finance Minister said everything given to this company was by transparent tender.

05:06I have demonstrated in this house that the Dhamra LNG terminal shows that it is not awarded by tender.

05:11Every day the Fake News Brigade, the Chaddi Brigade, floats new theories.

05:15Is it an American investment bank? Is it Ambani? Is it China?

05:19Nobody is behind Mahua. Mahua is behind the truth.

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