Congress seeks ED, House panel probe in Adani issue; stages protest in Pune
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Pune: The Enforcement Directorate (ED) and a Joint Parliamentary Committee should investigate the financial affairs of the Adani Group, urged Congress members during a demonstration outside a State Bank of India (SBI) branch in Pune on Wednesday (JPC).
Arvind Shinde, the head of the Pune City Congress, and other party officials took part in the demonstration outside the SBI branch close to the Pune Collectorate.
"Our leader Rahul Gandhi has been demanding a Joint Parliamentary Committee probe into the Adani group share crash issue, but no probe has been initiated so far. SBI and LIC's investments in Adani group shares have suffered heavy losses. Who told LIC and SBI to invest money in Adani group shares?" Shinde asked.
He said it was the Supreme Court that ordered the setting up of a six-member committee to look into various regulatory aspects for stock markets, including the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations.
"Was it not the government's responsibility to safeguard common people's money, which is with SBI and LIC? We demand that the Adani group be probed by the ED and the JPC," the Congress leader said.
Adani group stocks have taken a beating on the bourses after US-based Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
With PTI inputs