Monday, June 5, 2023

Congress MP Manickam Tagore moves adjournment motion in Lok Sabha to discuss Adani issue


New Delhi: Congress MP Manickam Tagore on Monday moved a motion of adjournment of the business in Lok Sabha to discuss the Hindenburg report on the Adani Group.

“I hereby give notice of my intention to ask for leave to move a motion for the adjournment of the business of the house for the purpose of discussing a definite matter of urgent importance, namely:-It is a great blow to the public money followed manipulative attitude of the Adani Groups which has been brought to light by the Hindenburg research report,” Manickam Tagore wrote to Lok Sabha Secretary General.

In general, the LIC has invested a total of Rs 136,474.78 crore in the Adani Group and at the same time many banks including the State Bank of India have invested a sum of nearly 280,000 crores in the same, he said.

“It is also informed that as much as 8 per cent of LIC”s equity assets under management, amounting to a gigantic sum of 274,000 crores, is in Adani companies. Therefore, the house should come forward to discuss the matter keeping aside other routine business, and should constitute a Joint Parliamentary Committee to investigate further in this matter. The House should also direct the Prime Minister to disclose the actual loss of public money to the nation through this House,” the Congress MP said.

Earlier on Friday, the Congress and 16 opposition parties demanded a joint parliamentary committee (JPC) or Supreme Court-monitored probe into the Hindunberg report against the Adani Group, alleging a scam. A report by a US-based 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.


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