Adani Group row: Upping the ante over the Adani Group crisis, the Congress party has decided to hold nationwide protests in front of Life Insurance Corporation (LIC) Offices and State Bank of India (SBI) branches in all districts on February 6.
Speaking to the media, Congress general secretary KC Venugopal slammed the central government, accusing them of using common people’s money to support their "closest friends." "Congress party has decided to have nationwide agitation across districts of the country in front of LIC and SBI offices on Monday (February 6)," he added.
According to reports, the Opposition is using the argument that the Adani Group's exposure to public sector banks like the SBI and LIC has a major impact on middle-class savings.
Meanwhile, Opposition leaders said that they anticipate the government to brazen it out and refuse to give in to their demand, but they will dig in and try to use the Parliament stage to corner Prime Minister Narendra Modi.
Opposition terms stock crash a 'Maha ghotala in Amrit Kaal'
Lashing out at the Centre over the Hindenburg report against Adani Enterprises, the Opposition dubbed the stock crash a “Maha ghotala (scam) in Amrit Kaal” and questioned the government’s “silence” over the issue.
Earlier on Thursday, February 2, 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.
"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.
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Adani Group crisis
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 PTI)