Opposition demands JPC probe into Hindenburg report 


Aam Aadmi Party MP Sanjay Singh alleged that Adani’s “mountain of lies and fraud” is crumbling like a pack of cards…reports Asian Lite News

Opposition leaders on Thursday demanded a discussion on the Hindenburg report against Adani Enterprises while also seeking the constitution of a Joint Parliamentary Committee (JPC) into the alleged aberrations.

The like-minded Opposition parties held a meeting before the commencement of the day’s Session of the Parliament to discuss strategy for the day. Several Opposition MPs have given suspension of Business notices to the respective Houses of Parliament on the issue. However, both Houses were adjourned soon after the Session began till 2 pm.

Aam Aadmi Party MP Sanjay Singh alleged that Adani’s “mountain of lies and fraud” is crumbling like a pack of cards.

“Adani’s mountain of lies and fraud is crumbling like a pack of cards. Crores of investors in the country are worried. Those who have invested in LIC, SBI because both of them have given loans worth crores of rupees,” he said.

The AAP MP demanded Prime Minister Narendra Modi to address the issue.

“The Prime Minister should come forward and address the issue. The Finance Minister should tell what are the RBI, ED, and CBI doing. Why is the government silent on such huge corruption? FPO is just the beginning, the mountain of lies will fall,” he said.

The AAP MP said that he has written to PM Modi to confiscate Gautam Adani’s passport.

“I have written to PM Modi, CBI and ED to confiscate Adani’s passport, otherwise if he flees the country like other businessmen, what would the crores of people do?” he said.

Shiv Sena (Uddhav Thackeray faction) MP Sanjay Raut told ANI that the Opposition parties will raise the issue of the Hindenburg report and Adani Stock crash in both Houses of Parliament.

Congress MP Manoj Tewari demanded a probe by a Joint Parliamentary Committee.

“We demand an investigation by the Joint Parliamentary Committee on the issue. We will raise the demand inside the Parliament. If the government doesn’t accept our demand, we will take appropriate steps. We’ll demand that a Joint Parliamentary Committee (JPC) should be constituted to go into the alleged aberrations. The question is not only about one promoter but about the efficacy of the entire regulatory system,” Tewari said.

Earlier, Union Parliamentary Affairs Minister Pralhad Joshi appealed to the Opposition to run the House smoothly.

“We have to run the House smoothly. A good budget has been presented under the guidance of PM Modi. If they have constructive suggestions about the President’s Address, they should give. I urge them to run the House smoothly and put forth their arguments,” he said.

The leaders who gave the notice in their respective Houses include Leader of opposition Mallikarjun Kharge, CPI(M) leader in Rajya Sabha MP Elamaram Kareem, Shiv Sena MP (Uddhav Thackeray faction) Priyanka Chaturvedi, CPI Rajya Sabha MP Binoy Viswam, Bharat Rashtra Samithi Lok Sabha MP Nama Nageswara Rao, BRS Rajya Sabha MP K Keshava Rao, Aam Aadmi Party MP Sanjay Singh among others.

The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session, which will conclude on April 6.

Adani Enterprises calls off Rs 20K cr FPO

Hours after its shares crashed at the bourses, the Adani Group on Wednesday evening decided to call off its Rs 20,000 crore follow-on public offer (FPO), saying that money would be returned to the investors.

The decision was taken after a meeting of the company’s Board.

“The Board of Adani Enterprises Ltd decided not to go-ahead with the fully subscribed follow-on public offer (FPO). Given the unprecedented situation and the current market volatility, the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction,” a statement issued by Adani Enterprises said on Wednesday.

Adani Group Chairman Gautam Adani said, “The Board takes this opportunity to thank all the investors for your support and commitment to our FPO. The subscription for the FPO closed successfully yesterday. Despite the volatility in the stock over the last week, your faith and belief in the company, its business and its management has been extremely reassuring and humbling. Thank you.”

The statement, however, added that on Wednesday, the market was unprecedented, and “our stock price has fluctuated over the course of the day. Given these extraordinary circumstances, the companya’s Board felt that going ahead with the issue would not be morally correct. The interest of the investors is paramount and hence to insulate them from any potential financial losses, the Board has decided not to go ahead with the FPO”.

ALSO READ: Adani Group gives detailed responses to Hindenburg

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