New Delhi: The Hindenburg Research Institute last week reported that the Adani Group was involved in irregularities. Following this, the share value of Adani companies fell by Rs 4.20 lakh crore. While public sector companies including LIC and SBI have invested in the Adani Group, those companies have also suffered losses.
Congress general secretary Randeep Surjewala has questioned why Finance Minister Nirmala Sitharaman and the investigating agencies are keeping silent about the Hindenburg Research allegation against Adani Group. He further said, “LIC is a public sector company. It is people’s money. LIC has invested Rs 77 thousand crore in Adani Group with public money. According to the Hindenburg report, LIC lost Rs 23,500 crore on this investment. Apart from this, LIC’s share value has fallen by Rs 22,500 crore. Similarly, public sector bank SBI has given a loan of Rs 81,200 crore to Adani Group.
The share value of these two public sector companies has fallen by Rs 78 thousand crore due to the allegations against the Adani group. But even in such an environment, LIC is investing Rs.300 crore and SBI is investing Rs.225 crore in Adani Group. Organizations including the Reserve Bank, SEBI, Enforcement Department, CBI and the Union Finance Ministry are still keeping quiet about this,” he said.
LIC People’s Money has invested Rs 77 thousand crores in Adani Group.