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Adani Group crisis: Opposition parties up the ante, demand JPC or SC-monitored probe into Hindenburg report

Adani Group crisis: Congress president and Leader of Opposition (LoP) in the Rajya Sabha, Mallikarjun Kharge also called for day-to-day reporting of the JPC or the SC-monitored probe into the issue which concerns public money.

Edited By: Anurag Roushan @Candid_Tilaiyan New Delhi Updated on: February 02, 2023 13:40 IST
Adani Group crisis: Opposition parties demand JPC or
Image Source : PTI Adani Group crisis: Opposition parties demand JPC or SC-monitored probe into Hindenburg report

Adani Group crisis: The Congress and several other Opposition parties on Thursday sought a Joint Parliament Committee (JPC) or a Supreme Court-monitored investigation into the alleged "economic scam" allegations by a US-based short seller against the Adani Group.

Speaking to reporters, Congress president and Leader of Opposition (LoP) in the Rajya Sabha, Mallikarjun Kharge also called for day-to-day reporting of the JPC or the SC-monitored probe into the issue which concerns public money.

"Keeping public interest in mind, we want a thorough probe into the Adani issue either by a Joint Parliamentary Committee or a Supreme Court-monitored Committee. There should also be day-to-day reporting of the investigation on the issue," Kharge told the media. 

Opposition parties give suspension of Business Notice in Parliament

He further said that Opposition parties have given the suspension of Business Notice under rule 267 to discuss the issue of investment by LIC, Public Sector Banks and financial institutions in companies losing market value, putting the hard-earned money of crores of Indians in jeopardy. "But our notices are rejected every time. When we raise important issues, we do not get time for discussion," Kharge said. 

Further, the LoP also criticised the government for funding "such firms" and accused it of pressuring banks to lend money. 

"Crores of people invest in LIC which is a reputed institution. Rather than pointing out repeatedly to one person, we would say how is the government giving money to such companies? We are unable to understand why is the government pressuring to lend such companies money?" Kharge said.

Both Houses adjourned over Opposition's rucks on Adani row

Notably, both Houses of Parliament were adjourned till 2 PM on Thursday as the Opposition created a ruckus demanding a discussion on the Hindenburg report on the Adani Group. 

ALSO READ: Adani Group hits back with detailed response, calls Hindenburg's allegations 'unsubstantiated'

It should be noted here that the fraud allegation has triggered a rout in Adani group company stocks. The rout has also threatened the value of investments made by the Life Insurance Corporation (LIC) and public sector banks. Adani group stocks, where LIC is heavily invested, have lost over USD 100 billion in value since a tiny New York short seller came out with a damning report alleging financial and accounting fraud by the ports-to-energy conglomerate.

(With inputs from agencies) 

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