Indian Youth Congress demands probe against Adani Group, protest at Jantar Mantar

New Delhi: In the wake of fraud allegations against The Adani Group and tanking stock prices, the Indian Youth Congress demanded a joint parliamentary committee probe against it and staged a protest at Jantar Mantar in Delhi.

IYC national president Srinivas B V led the protesters on Monday. They carried placards reading: "Taxpayers’ money through SBI and LIC was poured into the Adani Group. But now why does the government have no answers?" They also raised slogans against the Modi government, reported PTI.

Srinivas said: "The Adani scandal is the biggest scam of independent India. The Modi government is silent on the allegations of fraud against the Adani group, which is an indication of its complicity in the matter. The prime minister talks about his honesty and ‘neeti’ (policy) against corruption. In such a situation, (when) serious allegations have been levelled against a business house, then why are the prime minister and the finance minister silent."

After the US-based activist short-seller Hindenburg Research alleged the Adani Group of fraudulent transactions and share price manipulation, opposition parties including Congress said the meltdown in Adani shares is a scam that involves common people's money as LIC and SBI have invested in them.

"The BJP has misused agencies (ED, CBI, and DRI) for years to intimidate opponents and punish many business houses. In such a situation, what action has been taken to investigate the serious allegations against Adani Group? Is there any hope of a fair investigation under the current leadership," asked the IYC leader.

Protestors also burnt briefcases labelled as LIC and SBI. One of them told PTI: "It has been 13 days since the report related to the Adani Group scam came, but Prime Minister Modi has not uttered a single word. The Opposition is demanding a discussion on the issue in the House and Prime Minister Modi is running away from this."

Some of the protesters were detained by police after they climbed over the barricades. "Some members of the Indian Youth Congress, including its national president Srinivas B V, were detained and taken to Mandir Marg police station from where they were released after some time," said a police official.