Congress MP Manickam Tagore on Tuesday gave an Adjournment Motion notice in the Lok Sabha to discuss the Adani issue. He demanded a Joint Parliamentary Committee to investigate the matter. He urged the House to direct Prime Minister Narendra Modi to discuss the actual loss of public money to the nation.
“It is a great blow to the public money followed by the monopolistic attitude of the Adani group which has been brought to light by the Hindenburg research report,” Tagore said in the notice. The LIC has invested a total of 36,474.78 crores in the Adani group and at the same time, many banks including the State Bank of India have invested a sum of nearly Rs 80,000 crore for the same, the notice said.
“It is also informed that as much as 8 per cent of LIC’s equity assets are under management, amounting to a gigantic sum of Rs 74,000 crores in Adani companies,” the notice stated. “Therefore, the House should come forward to discuss the matter keeping aside other routine business and should continue the Joint Parliamentary Committee to investigate further in the matter,” it further stated.
“The House should also direct the Hon’ble Prime Minister to disclose the actual loss of public money to the nation through this House,” it read. Meanwhile, Congress Lok Sabha MP Manish Tewari also gave an adjournment motion notice to hold a discussion on “the essence, substance and spirit of Freedom of Speech accorded to Members of Parliament under Article 105 of the Constitution”.
The concerned report from US-based short-seller firm Hindenburg Research surfaced on January 24 claiming that the Adani Group had weak business fundamentals, and was involved in stock manipulation and accounting fraud, among others.
