In the wake of fresh allegations against the Adani Group, the CPI(M) charged on Thursday that the links of the Gujarat-based business conglomerate with Prime Minister Narendra Modi have ensured no action against it.

The Organised Crime and Corruption Reporting Project (OCCRP) trained its guns on billionaire Gautam Adani’s business group on Thursday, alleging that hundreds of millions of dollars were invested in the publicly-traded group stocks through Mauritius-based “opaque” investment funds managed by the partners of the promoter family, a charge denied by the conglomerate vehemently.

“Fresh evidence has emerged about the Adani Group’s manipulation of stock prices of its companies to inflate their value and assets. Adani’s links with Prime Minister Modi have so far ensured that the regulatory authorities do not take any action against the widespread fraud and manipulation of the stock market,” the Communist Party of India (Marxist) said in a statement.