Congress steps up attack against govt over Adani row

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New Delhi: The Congress-led opposition stepped up its attack on Friday against the government over the Adani row and demanded that there should be a thorough investigation into what they alleged was a “mega scam” as it involved public money.

Opposition parties have been demanding a joint parliamentary probe or a Supreme Court-monitored investigation into the allegations of fraud and manipulation by the US-based short-seller Hindenburg Research against billionaire Gautam Adani’s companies that have triggered an unprecedented stock crash.

“Due to the investment made by LIC-SBI in Adani Group, the money of common citizens of the country is sinking. The Opposition is demanding an inquiry into the entire matter,” the Congress said.

The party also said that it has been two days, and the Opposition is demanding a discussion on the Adani issue in Parliament.

“The money of the people of the country invested in LIC-SBI is sinking. The opposition wants to raise the voice of the public in the House and discuss their concerns. But, PM Modi is running away from the discussion, saving his friend. Fear of what,” the opposition party asked.

Adani Group has lost more than USD 100 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud in the January 24 report. The group has denied any wrongdoing and has threatened to sue Hindenburg.

“Dow Jones dropped Adani from Sustainability Indices. Action is being taken against Adani all over the world, but PM Modi is quiet. Where are SEBI, ED, ROC, and SFIO? When will our government take action,” the Congress asked on Twitter.

The opposition parties met in the morning in the chamber of Leader of Opposition in Rajya Sabha Mallikarjun Kharge and coordinated their strategy for the day.

While 16 parties including the Congress, RJD, AAP, DMK, SP, CPI, CPI-M, BRS, Shiv Sena (Thackeray), JDU, NCP and NC participated in the meeting on Friday, Trinamool Congress did not attend the same. TMC was present in the Thursday meeting of opposition parties.

The Opposition later stalled the proceedings of both Houses of Parliament, which failed to transact any business and were adjourned within minutes.

“Parliament adjourned for another day because the Opposition demands a JPC on the PM-linked Adani issue that is playing havoc on the savings of crores of Indians,” Congress general secretary Jairam Ramesh said.

“Modi sarkar says MPs are wasting public money. What about the crores people have lost over the last few days of the ‘Maha mega scam,” he asked.

He also accused the government of being fearful of the Opposition demands for a JPC on the Adani issue and alleged that the business group has patronage at the highest levels.

Congress spokesperson Supriya Shrinate said,”the difference between the global financial community and India’s approach to allegations against Adani is stark.”

“Distant third parties like S&P Dow Jones remove Adani Enterprises on the severity of allegations. Our own regulators and government remain inactive and silent despite 10 days of mayhem,” she said on Twitter.

Shiv Sena Rajya Sabha MP Priyanka Chaturvedi also wrote to the SEBI chief demanding action on the Adani issue not just for the sake of shareholders who are losing their money but also in the national interest.

“Reminding SEBI about its authority to regulate the markets and ensure transparency, compliances are met with so as to not shake the investor confidence & wipe off wealth of investors,” she said on Twitter.

TMC MP Mahua Moitra also tweeted:”S&P Dow Jones removes Adani Enterprises from Dow Jones indices due to stock manipulation and accounting fraud charges.

“Why is NSE not reevaluating index membership of Adani stocks when international ones are.”

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( With inputs from )

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