Congress-led opposition demands thorough probe into ‘mega scam’

New Delhi, February 04 (KMS): The Congress-led opposition has demanded a thorough investigation into 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 Prime Minister, Narendra Modi’s close friend 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. “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 $100 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud in the January 24 report.

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, the Rashtriya Janata Dal, the Aam Aadmi Party, the Dravida Munnetra Kazhagam, the Samajwadi Party, the Communist Party of India, the Communist Party of India-Marxist, the Bharat Rashtra Samiti, the Shiv Sena-Uddhav Balasaheb Thackeray, the Janata Dal-United, the Nationalist Congress Party and the National Conference participated in the meeting, the Trinamool Congress did not attend the same. The Opposition later stalled the proceedings of both Houses of Parliament, which failed to transact any business and were adjourned within minutes.

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 Securities and Exchange Board of India (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 so as to not shake the investor confidence & wipe off wealth of investors,’ she said on Twitter.

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