Imagine the opposition leader of a major democracy being
bundled off to jail for supposedly defaming the surname of the ruling party's
leader but it is exactly what has happened in India. Rahul Gandhi has
been given a two-year sentence and has 30 days to appeal. The case was
originally brought by a plaintiff named Purnesh Modi in 2019; he is a
member of the Gujarat Legislative Assembly and a BJP stalwart.
It
is certainly odd that the incident in question occurred not in the
recent past but in 2019. Why 2023 for the hearing is then the obvious
question until one is informed that Indian elections are to be held in
2024 and the main opposition leader behind bars will certainly make the
job of the ruling BJP much easier. It all sounds very much like someone
dusted off the files and wondered what could be done with the whole
affair.
In
his speech, Gandhi apparently pointed out recent notable fraud cases in
India -- the fugitive Indian diamond tycoon Nirav Modi, the Indian
Premier (cricket) League chief Lalit Modi and added the name Narendra
Modi. He then used the words that became the basis of the trial: "Why
do all thieves have Modi as their surname?" Thus the complainant could
say he had "defamed the entire Modi community." To make matters worse,
Modi is not an uncommon name in Gujarat.
There
is more than a grain of truth in Gandhi's charge. For example, there
is Modi's friend and supporter Gautam Shantilal Adani. He heads one of
the top three industrial conglomerates in India, the Adani Group, with
personal wealth in excess of $30 billion.
Hindenburg Research is a group that focuses on activist short selling. They noticed that Adani was using an auditing firm with a mere 11 employees, four of whom were partners in the firm, as auditors for an enterprise worth $100 billion. Given the size, most reputable auditors would virtually have an office there to monitor activity.
Hindenburg's scathing review of Adani enterprises showed opportunities for a huge profit or the short side. Following a 2-year investigation,
they published a well-researched 32-page report, and
their clients certainly profited. The $100 billion value is down to $45
billion and for the individual investor the stock is down since January from about 4 to 2 thousand rupees.
To return to Rahul Gandhi: There was a reason for his maximum two-year sentence. It turns out that if a parliamentary member is sentenced to two years or more in jail, he has to vacate his seat in the legislative assembly. His comments to the press recalled his great-grandfather Jawaharlal Nehru's (India's first prime minister) time in British jails and likening himself as a similar martyr to tyranny.
One has to wonder if Rahul is the brightest bulb in the Nehru pantheon when he wants to relinquish a platform that easily. Fewer opposition critics would suit Modi fine.
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