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₹3200 cr loss for LIC; is Nirmala Sitharaman under pressure to support Adani, asks Mahua Moitra

Says she feels like she is doing media's job by exposing Adani's 'fraud'


Even as the stocks of Adani Group continue to be under selling pressure in the wake of the Hindenburg report, TMC MP sought to know if Finance Minister Nirmala Sitharaman is under pressure to support the Gautam Adani-led group.

Taking to Twitter, the TMC MP shared a newspaper clip that said the value of LC holding in Adani companies dropped below the purchase price, and said, "₹3200 cr loss in Adani shares for @LICIndiaForever so far."

"@nsitharaman #IRDAI what pressure is there to support Adani at cost of Indian public? We need answers," she wrote.

She claimed that while Bangladesh managed to get Adani Power revise the coal price, India's ministry of power and NTPC continue to be fooled.

Bangladesh’s state-run Power Development Board (PDB) earlier this month sought to revise a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared to be too expensive. On Thursday, Adani Power promised to supply electricity to Bangladesh at a reduced price keeping consistent with the generation cost in the country’s existing coal-fired plants.

"Bangladesh wisens up in a single contract - revises costly Adani power purchase agreement to cheaper rate. Meanwhile @MinOfPower @NTPClimited @CBIC_India are continuing to be fooled!," the TMC leader tweeted.

She said she feels like she is doing the media's job by exposing Adani's fraud.

"SC refuses to allow media gag on Adani news. Phew. I feel like I am doing media’s job anyway by exposing this fraud while Indian media & regulators continue to fail in their duty," she said in another tweet.

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