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Congress holds 'Hum Adani Ke Hain Kaun' protest; Opposition chorus grows for JPC probe

Adani row: Adani group landed in trouble after US-based activist short-seller Hindenburg Research made a litany of allegations including fraudulent transactions and share price manipulation.

Raju Kumar Edited By: Raju Kumar @rajudelhi123 New Delhi Updated on: February 06, 2023 11:44 IST
Congress hold protest against the government
Image Source : INC TWITTER Congress hold protest against the government

Opposition parties on Monday stepped up their attack against the Modi government over the Adani issue. Opposition leaders created ruckus in Rajya Sabha pressing their demand to discuss the Adani row. They also staged a protest on Parliament premises demanding discussion in the House.

Earlier, Opposition parties- Congress, DMK, NCP, BRS, JD(U), SP, CPM, CPI, Kerala Congress (Jose Mani), JMM, RLD, RSP, AAP, IUML, RJD and Shiv Sena (Uddhav) held meeting at LoP Mallikarjun Kharge’s Chamber at Parliament Building, New Delhi. They chalked out a strategy to target the government during the ongoing Budget Session of Parliament on Adani-Hindenburg and other issues. 

Congress' Hum Adani Ke Hain Kaun protest

Congress is holding nationwide protests on Monday (February 6). Congress leader Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue and "your government cannot hide from saying 'HAHK' (Hum Adani Ke Hain Kaun)”.

hat action has been taken, if ever, to investigate the serious allegations made over the years against the Adani Group and is there any hope of a fair and impartial investigation in the matter under the prime minister, he said in a statement and asked the prime minister to break his "silence" over the issue.

Allegations against Adani

Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations including fraudulent transactions and share price manipulation against the Gautam Adani-led group which has dismissed the allegations as lies.

Ramesh said that amid the allegations against the Adani Group, the Modi government has maintained a "loud silence which smacks of collusion".

He alleged Vinod Adani, the brother of Gautam Adani, was named in the Panama Papers and the Pandora Papers as someone "who operates offshore entities in the Bahamas and the British Virgin Islands".

Opposition demand JPC probe

Telangana Chief Minister and BRS leader K Chandrasekhar Rao endorsed the demand of Opposition parties for a Joint Parliamentary Committee (JPC) to look into the "scam", while BSP chief Mayawati said India's image is at stake but the government is taking the issue "very lightly".

They alleged that the recent meltdown in Adani Group shares is a scam that involves common people's money as public sector LIC and SBI have invested in them.

The Congress will hold district-level protests outside all offices of SBI and LIC on February 6, party general secretary K C Venugopal had announced earlier.

On Sunday, Trinamool Congress (TMC) leader Derek O'Brien said his party wants debate not disruption in Parliament and is raring to take on the government.

He said that if any party disrupts the House it is in cahoots with the BJP.

"BJP scared. Trying to RUN AWAY FROM DEBATE in Parliament. Great chance to skewer Modi Govt from Mon Feb 6 when both Houses debate President’s Address Keep a close watch. If any Oppn party disrupts, they are in CAHOOTS WITH BJP, We TMC want debate, not disruption," the Rajya Sabha MP tweeted.

Bihar Chief Minister and JD(U) leader Nitish Kumar had on Saturday said that allegations against the Adani group "should be looked into".

Government's defend

Union Information and Broadcasting Minister Anurag Singh Thakur has said the government has nothing to hide on the Adani issue and accused the Opposition of evading discussion in Parliament.

The 10 listed Adani group firms have faced a combined erosion of over Rs 8.5 lakh crore in just six trading sessions. Adani Enterprises also had to withdraw a Rs 20,000 crore share sale.

The Adani group has maintained it complies with all laws and disclosure requirements.

Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following the Hindenburg report was a company-specific issue.

She said banks and insurance companies are "not overexposed" to any one company and assured that Indian markets are very well managed by its regulators.

(With PTI input)

Also Read: Committed to ensuring market integrity, says SEBI; refers to 'unusual price movement' in Adani group stocks


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