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Adani issue rocks Parliament, both Houses adjourned

Opposition seeks SC-monitored probe into Hindenburg allegations

PTI02_02_2023_000026B MPs of like-minded opposition parties in a meeting at Leader of Opposition Mallikarjun Kharges chamber in Parliament House | PTI

Lok Sabha and Rajya Sabha proceedings were adjourned for the day amid ruckus as opposition parties demanded a discussion on the Hindenburg report on Adani Group. Congress President Mallikarjun Kharge said that the opposition parties have sought a Joint Parliamentary Committee or Supreme Court-monitored probe into allegations against the conglomerate.

Congress leader Jairam Ramesh tweeted that the government did not agree to the combined Opposition demand for “an investigation into forced investments by LIC, SBI & other public institutions that have lost huge value in recent days.

AICC head of media and publicity department, Pawan Khera said the Congress has raised three important demands from the Narendra Modi government. "An impartial investigation under the Chief Justice of Supreme Court, with day-to-day reports, should be carried out, or a Joint Parliamentary Committee (JPC) should be formed to investigate the Hindenburg Research report in detail," he said at a press conference. "Adani's risky investments in LIC, SBI and other nationalised banks should be discussed in Parliament and appropriate steps should be taken to protect the investors," he said.

Opposition leaders met in the Parliament complex ahead of the session on Thursday morning to evolve a joint strategy to seek a discussion on the Adani Group issue. Leaders of the Congress, DMK, TMC, SP, JD(U), Shiv Sena, CPI(M), CPI, NCP, IUML, NC, AAP and the Kerala Congress were present at the meeting.

In the Lok Sabha, Opposition members rushed to the Well raising slogans as soon as Speaker Om Birla welcomed a Parliamentary delegation from Zambia and started Question Hour. The speaker objected to the noisy scenes and asked the members not to make unsubstantiated claims.

He said Question Hour was an important part of Parliamentary proceedings and should not be disrupted. As the slogan shouting continued, the Speaker adjourned proceedings till 2 pm, and then later for the full day. 

Several opposition leaders, including Kharge, had given adjournment notices in both Houses to raise the issue in the wake of the Hindenburg report.

Meanwhile, Adani Enterprises on Wednesday called off the fully subscribed Rs 20,000-crore follow-on public offer (FPO). Clarifying the decision in a video shared on Thursday, Gautam Adani said it would not be "morally correct" to go ahead with the Rs 20,000-crore share in the current market condition. This comes as the shares of Adani Group firms slumped on Wednesday, losing more than Rs 7 lakh crore of their combined market capitalisation in the last five trading sessions. The developments come amid the US-based short seller Hindenburg Research's report that the group had engaged in fraudulent transactions and share price manipulation.

-with agency inputs

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