New Delhi: The Congress and several other opposition parties on Thursday demanded a discussion on the Adani Enterprises case in both the Houses of Parliament and also urged that a Joint Parliamentary Committee (JPC) be set up to investigate the matter or under the supervision of the Supreme Court. Get it checked.
The main opposition party Congress also said that there should be a detailed discussion in Parliament regarding investment in public sector banks and Adani Group of Life Insurance Corporation (LIC) and protection of the interests of investors.
Leader of Opposition in Rajya Sabha and Congress President Mallikarjun Kharge told reporters after Lok Sabha and Rajya Sabha meetings were adjourned due to ruckus on various issues including Adani, ‘We want to say that why the government is giving loans to such companies by creating pressure? ‘
He said, ‘Keeping in mind the interests of the people and the investment of LIC, SBI, we are demanding a discussion. We demand that it should be investigated by forming a JPC or under the leadership of the Chief Justice of the Supreme Court.
In the presence of many opposition leaders, Kharge said, “After the investigation, the report should be placed before the public every day, so that there is transparency and people believe that their money is saved.”
Earlier, due to the ruckus of the opposition parties on this subject, the proceedings of both the Parliament were interrupted.
In a tweet, he said, crores of people’s money is invested in LIC and nationalized banks. Why does the government force government institutions to invest or give loans to companies whose Hindenburg Report disclosed in Our demand is that a Joint Parliamentary Committee (JPC) should be constituted or an impartial inquiry should be conducted under the supervision of the Chief Justice of the Supreme Court, whose report should be made public on a day-to-day basis.
2. Or there should be an impartial inquiry under the supervision of the Chief Justice of the Supreme Court, whose report should be made public day by day.
2/
— Mallikarjun Kharge (@kharge) February 2, 2023
Congress general secretary Jairam Ramesh tweeted, “Both Houses of Parliament adjourned till 2 pm today as the government responds to the joint opposition’s demand to investigate investments made under duress by LIC, SBI and other public institutions.” Did not agree.
He claimed that today the savings of crores of Indians are at risk due to reduction in the value of such investments.
Both Houses of Parliament were adjourned till 2 pm today as the government did not agree to the joint opposition’s demand for a probe into investments made under duress by LIC, SBI and other public institutions. The savings of crores of Indians are at risk today due to erosion in the value of such investments.
— Jairam Ramesh (@Jairam_Ramesh) February 2, 2023
In another tweet, he said, ‘The Modi government is clearly cornered on the Adani issue. She does not even want to allow this matter to be mentioned in the Parliament. This is the reason why both the Houses were adjourned within a few minutes after 2 pm without giving a chance to the opposition to demand formation of JPC regarding this mega scam.
The Modi government is clearly cornered on the Adani issue. She does not even want to allow this matter to be mentioned in the Parliament. This is the reason why both the Houses were adjourned within a few minutes after 2 pm without giving a chance to the opposition to demand formation of JPC regarding this scam.
— Jairam Ramesh (@Jairam_Ramesh) February 2, 2023
Taking a dig at the Adani group, party general secretary Jairam Ramesh tweeted, ‘To say that Adani is morally right is like preaching the virtues of humility, simplicity and large-heartedness by his prime mentor. This is ‘Entire Political Science’.
In a conversation with reporters, the head of the media and propaganda department of the Congress, Pawan Kheda, claimed, ‘Modi ji, the balloon which was inflated with a lot of effort, has lost its air. Keeping all the rules and regulations in mind, Modi ji brought up a man by raising him. If this was a matter between Modi ji and Adani ji then what objection did we have. This matter has been linked to the hard-earned money of every Indian. This matter has reached everyone’s pocket.
Keeping all the rules and regulations in place, Modi ji brought up a man by nurturing him… but what happened today!
Had it been a matter between Modi ji and Adani, we would have had no objection.
But today this matter is about the hard earned money of Indians, which is in danger.
, @pawankhera Yes pic.twitter.com/xC0G9Lfcfn
— Congress (@INCIndia) February 2, 2023
Khera said that there is a question of security of investment of those 45 crore Indian citizens who have invested money in LIC. He said, ‘Adani ji’s ‘prime mentor’ is now silent. Modi is not saying anything. Modi ji, are you not cheating the 45 crore account holders of LIC?
He said, ‘PM Modi is the ‘prime mentor’ of Adani ji. They are just silent. Modi ji, you know whether you cheat your ‘best friend’ or not, but don’t cheat the investors of India, policy holders of LIC and account holders of SBI. Your silence tells that you are cheating.
PM Modi is the ‘Prime Mentor’ of Adani ji. They are just silent now.
Modi ji, whether you cheat your ‘best friend’ or not… you know that.
But don’t cheat the investors of India, policy holders of LIC and account holders of SBI.
Your silence tells – you are cheating.
, @pawankhera Yes pic.twitter.com/JxcIa54e1i
— Congress (@INCIndia) February 2, 2023
The Congress leader said, ‘We have three demands. There should be an inquiry into the matter under the supervision of the Chief Justice of the Supreme Court, the report of which should be made public on a daily basis. JPC should be constituted regarding this matter. There should be a detailed discussion in Parliament regarding investment in public banks and LIC’s Adani group and protection of investors’ interests.
Earlier on Thursday morning, senior Congress leaders Jairam Ramesh, Trinamool Congress’s Sudip Bandopadhyay and Derek O’Brien, Aam Aadmi Party’s Sanjay Singh, DMK’s Kanimozhi, Samajwadi Party’s Ram Gopal Yadav, Shiv Sena were present in a meeting held at Kharge’s Parliament House room on Thursday morning. Sanjay Raut of (Uddhav Thackeray) and leaders of some other parties were present.
Opposition parties have decided that they will raise the issue related to Adani Enterprises in both the Houses and demand a discussion on it.
Kharge had given an adjournment notice under Rule 267 in the Rajya Sabha without directly mentioning Adani Enterprises. In the notice, it was demanded that the issue of investment of Life Insurance Corporation of India (LIC), public sector banks and financial institutions in companies that have lost capital in the market should be discussed.
In the Lok Sabha, Congress MP Manickam Tagore also gave an adjournment notice demanding discussion on the issue of Adani Enterprises.
Congress MP Manish Tiwari tweeted that a Joint Parliamentary Committee (JPC) should be formed on the Adani episode.
Significantly, Adani Enterprises on Wednesday announced the withdrawal of its Rs 20,000 crore follow-on public offer (FPO) and return of investors’ money. However, the FPO of the company was fully subscribed on Tuesday. Adani Enterprises is understood to have taken this step following a report by Hindenburg, an American investment research firm. This business group had termed the report as baseless.
It is known that American investment research firm Hindenburg Research had accused the Adani Group of fraud, after which the shares of the group companies have fallen drastically in the last few days. In this report, it was said that a two-year investigation has revealed that the Adani group has been involved in ‘stock manipulation and accounting fraud’ for decades.
After the report surfaced, the Adani Group had said on January 26 that it would seek legal action for “punitive action” against Hindenburg Research for acting “indiscriminately” in an attempt to sabotage share sales of its flagship company. Looking into options.
In response to this, Hindenburg Research had said that it stands by its report. The company also said that if the Adani group is serious, it should also file a lawsuit in the US where we operate. We have a long list of documents to be sought during the legal process.
On Sunday (January 30), the Adani group issued a 413-page ‘clarification’ in response to Hindenburg Research’s allegations. The Adani group had said in response to these allegations that it was a deliberate attack on India by Hindenburg. The group had said that these allegations are nothing but ‘lies’.
The group had said, ‘This is not just an unwanted attack on a specific company, but a systematic attack on India, the independence, integrity and quality of Indian institutions, and India’s growth story and ambitions.’
Reversing this answer of Adani group, Hindenburg group said on Monday that the fraud cannot be covered with ‘nationalism’ or ‘some exaggerated reaction’. India is a vibrant democracy and an emerging superpower. Adani group is blocking India’s future by ‘systematic loot’.
It was said on behalf of Hindenburg, ‘We disagree. To be clear, we recognize that India is a vibrant democracy and an emerging superpower with an exciting future. We also believe that the future of India is being blocked by the Adani group, which has systematically looted the country by wrapping itself in the garb of nationalism.
Hindenburg Research responded by saying that fraud is fraud, even if it is perpetrated by the world’s richest man.
(With inputs from news agency Bhasha)
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