Form JPC to probe Adani case, investigation should be conducted under Supreme Court supervision, says Opposition

The Congress and several other opposition parties on Thursday demanded a discussion on the Adani Enterprises case in both the Houses of Parliament and also urged that a Joint Parliamentary Committee (JPC) be set up to investigate the matter or under the supervision of the Supreme Court.

Leader of Opposition in Rajya Sabha and Congress President Mallikarjun Kharge told reporters after Lok Sabha and Rajya Sabha meetings were adjourned till 2 pm due to ruckus on various issues, including Adani and said that they want to ask why the government should give pressure to such companies in getting loan?

He further said that keeping in view the interests of the people and the investment of LIC, SBI, they are demanding a discussion. ‘Our demand is that it should be investigated by constituting a JPC or it should be investigated under the leadership of the Chief Justice of the Supreme Court. And people should be sure that their money is saved.” Earlier, the proceedings of both the Parliament were disrupted due to the uproar by the opposition parties on this subject.

Congress General Secretary Jairam Ramesh tweeted, ‘Both Houses of Parliament adjourned till 2 pm today as the government responds to the joint opposition’s demand to probe investments made under duress by LIC, SBI and other public institutions.’ He claimed that the savings of crores of Indians are at risk today due to the fall in the value of such investments.

Read Also: Hindenburg effect: RBI seeks info from banks of exposure to Adani Group

Earlier, senior Congress leaders Jairam Ramesh, Trinamool Congress’ Sudip Bandopadhyay and Derek O’Brien, Aam Aadmi Party’s Sanjay Singh, DMK’s Kanimozhi, Samajwadi Party’s Ram Gopal Yadav, Shiv Sena ( Sanjay Raut of Uddhav Thackeray) and leaders of some other parties were present.

Opposition parties have raised the issue related to Adani Enterprises in both the Houses and demand a discussion on it. Kharge had given an adjournment notice under Rule 267 in the Rajya Sabha without directly mentioning Adani Enterprises. In the notice, it was demanded that the issue of investment of Life Insurance Corporation of India (LIC), public sector banks and financial institutions in companies that have lost capital in the market should be discussed. In the Lok Sabha, Congress MP Manickam Tagore also gave an adjournment notice and demanded a discussion on the issue of Adani Enterprises.

Congress MP Manish Tiwari tweeted that a Joint Parliamentary Committee (JPC) should be constituted on the Adani episode. Significantly, Adani Enterprises on Wednesday announced the withdrawal of its Rs 20,000 crore follow-up public offering (FPO) and return of investors’ money. However, the FPO of the company was fully subscribed on Tuesday. It is understood that Adani Enterprises has taken this step after the report of America’s short selling company Hindenburg. This business group had termed the report as baseless.

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