Opposition calls for probe into fraud allegations against Adani


NEW DELHI : Opposition lawmakers on Thursday disrupted both Houses of Parliament as they demanded an investigation into allegations of fraud against the Adani Group under the supervision of the Supreme Court (SC) or by a joint parliamentary committee (JPC), while the market woes of one of Indiaโ€™s biggest conglomerates deepened with the group losing more than $100bn, or โ‚น8.76 trillion, in value in six days.

Opposition MPs raised the matter in both Houses. Congress president Mallikarjun Kharge said an investigation should cover the manner โ€œin which government-owned companies are forced to invest in firms”.

โ€œAll the parties together, we have taken a stand that this wastage of LICโ€™s money and of money taken as loan from SBI and possibly many other such financial institutions where the hard-earned money of the common ban has been deposited, by investigated either by a joint parliamentary committee or a probe under the Supreme Court with day-to-day updates,” he said, adding that the objective was not to targeting anyone personally.

In the Lok Sabha , MPs demanded a discussion on the Adani issue. The Congress and other parties gave adjournment motions but later, the presiding officer rejected them. The Rajya Sabha was adjourned seven minutes after the House assembled. Nine MMPs had given notices to suspend business to take up pressing issues. Chairman Jagdeep Dhankhar said the notices were not in order and did not allow the suspension of business.

On Friday, too, the Opposition is expected to maintain the pressure on the government and demand a debate in both Houses of Parliament.

Several chief ministers, too, raised the issue. Chhattisgarh chief minister Bhupesh Baghel on Thursday claimed LIC and SBI continued to invest in the Adani group despite the shares of its companies crashed.

West Bengal chief minister Mamata Banerjee alleged that the BJP was using peopleโ€™s money deposited with LIC and nationalized banks to benefit some of its party leaders. โ€œThe share market witnessed a massive crash after the budget was presentedโ€ฆ Telephone calls were made to some people asking them to pump in several thousand crores of rupees,” Banerjee said.

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