New Delhi: Public sector company LIC has invested heavily in Adani Group. Similarly, public sector bank SBI has given a loan of Rs.21,000 crore to the group. While the Adani Group has suffered a steep decline due to allegations of corruption, the share values of LIC and SBI have fallen.
In this case, the Congress party has announced that it will hold a protest in front of the district head offices of LIC and SBI Bank across the country on February 6, demanding a serious investigation into the huge investment of public sector companies in the Adani Group.
In this regard, Congress General Secretary KC Venugopal has sent a circular to the state units of the Congress Party. In this circular, guidance has been given to the state units of the party to unite the Congress leaders and volunteers at the district, town and panchayat levels. During the protest, it has been stated in the circular to present the demand that “an impartial investigation should be conducted under the Chief Justice of the Supreme Court or a joint parliamentary committee in the matter of Adani corruption”.
In this regard, the Congress party executives say, “The BJP-led central government is forcing public sector companies to invest people’s money in the Adani Group. We raised a question in Parliament about this. However, the central government did not respond. People’s hard-earned money is now at risk due to the BJP government. Thus, we are taking this matter to the people.
Adani Group has been involved in irregularities such as stock fraud, tax evasion, raising the value of the stock and taking more loans, according to the US-based Hindenburg Research Institute, Jan. Issued a report on the 24th. Due to this, the share value of Adani companies has been falling for the last one week. So far the market value of the group of companies has fallen by Rs.10 lakh crore. As a result, the value of LIC’s investment in Adani Group has fallen from Rs 81,000 crore to Rs 43,000 crore. Apart from this, the stock value of LIC has also fallen. Similarly, the share value of SBI, which has given loans to the Adani Group, has also suffered a sharp decline. Indian banks have given Rs 82,000 crore loan to Adani Group. In this, SBI’s share is Rs.21,000 crore. In this case, it is noteworthy that the Reserve Bank has ordered the banks to submit the loan details given to the Adani Group as a report.
Suit for compensation: In this case, lawyer Sharma has filed a Public Interest Litigation in the Supreme Court demanding action against the Hindenburg Company. In that petition, he said, “Indian stock market is under great stress due to Hindenburg Report. People who have invested in Adani Group have suffered a huge loss. Due to this, a case should be registered against the company and action should be taken. Also, compensation should be received from that company,” he said.
10 lakh crore loss in a single week: Prior to the publication of the Hindenburg Research report, the Adani Group’s stock value was Rs 19.31 lakh crore. However, it has now fallen by 51% to Rs 9.31 lakh crore. In this case, Gautam Adhani, who was at the 2nd place in the list of world billionaires, has been pushed to the 17th place.
Adani Transmission 10%, Adani Green Energy 10%, Adani Power, Adani Total Gas, Adani Wilmar 5% each and Adani Enterprises 2.20%.
Opposition parties are alleging that Prime Minister Narendra Modi and Gautam Adani had a close relationship when he was the Chief Minister of Gujarat, and that the growth of the Adani Group began to increase to a great extent after Modi took office as the Prime Minister.
In this case, “My career success did not happen with the help of any leader. Since Prime Minister Modi and I belong to the same state, they talk about me in relation to him,” Adani said.
