Adani issue: ‘Not a threat to national security now?’

Security personnel deployed during a march of Opposition MPs from Parliament House to ED office to submit a complaint over the Adani issue, in New Delhi, on Wednesday. Pic/PTI

Several Opposition leaders, including former Congress chief Rahul Gandhi, on Wednesday attacked the government over a media report stating that a key Adani Group investor is also the co-owner in a defence firm of the conglomerate.

A report in The Indian Express stated that ELARA India Opportunities Fund (Elara IOF), a venture capital fund managed by global firm Elara Capital, is one of the top four entities registered in Mauritius that holds shares predominantly in Adani Group companies. According to the report, records show that along with the Adani Group, it is a promoter entity in a defence company, Bengaluru-based Alpha Design Technologies Private Limited.

This defence company, incorporated in 2003, works closely with ISRO and DRDO and has a Rs 590-crore contract with the Union Ministry of Defence in 2020 to upgrade and digitise the ageing Pechora missile and radar systems, the report said.

Also Read: Ample proof, probe Adani Group: Opposition to ED

Rahul Gandhi, Congress leader

Sharing the screenshot of the media report on Twitter, Gandhi said, "India's missile and radar upgrade contract is given to a company owned by Adani and a dubious foreign entity called Elara.

"Who controls Elara? Why is India's national security being compromised by giving control of strategic defence equipment to unknown foreign entities?"

Trinamool Congress MP Mahua Moitra also took a swipe at the Centre over the report. "The ‘Chhupa Rustom' category award at the Oscars goes to @DRDO_India and @PIBHomeAffairs. Happy to have unknown foreign funds controlling sensitive defense contracts! Only for their best friend Mr Adani," she tweeted.

Parliament uproar to save Adani: Congress

The Congress on Wednesday accused the Modi government of "undermining and weakening" democracy in the country by stalling Parliament in order to save a businessman.

Asking why the BJP is so "disturbed" about the remarks made by Gandhi, Congress spokesperson Supriya Shrinate said, "We feel that the uproar created inside Parliament is being spearheaded by the BJP itself and this is to save Adani". Citing arrest of a journalist for asking questions about the bad condition of roads in Uttar Pradesh and the elected government being run down with money power, she asked, "Is this not undermining democracy".