NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Shashi Tharoor
    Aam Aadmi Party (AAP)
    Arvind Kejriwal
    Mamata Banerjee
    Nitin Gadkari
    Rahul Gandhi
    Indian National Congress (INC)
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Politics News / Adani-Hindenburg row: Congress launches nationwide protest, calls for probe
    Politics

    Adani-Hindenburg row: Congress launches nationwide protest, calls for probe

    Adani-Hindenburg row: Congress launches nationwide protest, calls for probe
    Written by Prateek Talukdar
    Feb 06, 2023, 08:37 pm 3 min read
    Adani-Hindenburg row: Congress launches nationwide protest, calls for probe
    The Congress took to the streets on Monday calling for an impartial investigation into the allegations of fraud against Adani Group

    The Congress on Monday took to the streets nationwide, calling for an impartial investigation into the fraud allegations against Adani Group, which it claimed endangers public savings. Party workers staged demonstrations in front of Life Insurance Corporation (LIC) and the State Bank of India (SBI) offices, sloganeering against the Narendra Modi-led government. Clashes between Congress workers and the police were reported in some areas.

    Why does this story matter?

    • US-based Hindenburg Research has accused Adani Group of unprecedented stock manipulation and accounting fraud, which has endangered people's investments.
    • Following the Hindenburg report, the conglomerate's shares lost significant value, forcing it to withdraw its follow-on public offer (FPO).
    • The share prices of government-owned LIC and SBI, the corpora of public savings that have a stake in Adani's conglomerate, have also plunged significantly.

    Congress demands probe by JPC or former chief justice-led panel

    Jammu and Kashmir Congress working president Raman Bhalla and senior party leader Vikar Rasool led the protest rally in Jammu and demanded the constitution of a Joint Parliamentary Committee (JPC) to probe the allegations. Bhalla also demanded an investigation by a retired chief justice into the matter, while lashing out at the government for "investing" LIC and SBI's money into the Adani Group.

    Modi silent, government shielding Adani: Opposition

    Vice President of NSUI Andhra Pradesh, Amrut Teja garu leading a protest against the BJP's inaction in The Adani scam. #ModiMuteAdaniLoot pic.twitter.com/VjQhIeUTQY

    — INC Andhra Pradesh (@INC_Andhra) February 6, 2023

    Modi's friends looting public money: Congress

    The Congress targeted the central government, saying that it is "hell-bent on helping Modi's friends loot public money." Videos showed protesters raising slogans like "Narendra Modi chuppi todo" as it questioned the government's alleged silence over the issue. The grand old party satirically said it was launching a series called "Hum Adani Ke Hain Kaun" to pose three questions to the government every day.

    Opposition not allowed to raise demand for JPC: Jairam Ramesh

    Members of the National Students Union of India (NSUI), the student wing of Congress, held a demonstration at Delhi's Jantar Mantar and burned a suitcase with SBI's logo on it. The Opposition parties also gathered in protest near the Gandhi statue in the Parliament complex. Congress veteran Jairam Ramesh said their demand for a JPC was shushed for the third day in a row.

    LIC's investment value in Adani stocks almost halved

    Reportedly, LIC's investment value in Adani's conglomerate almost halved last week, while the gains from appreciation fell nearly four times. LIC's investment value stood at Rs. 81,000 crore on January 24, the day Hindenburg's report was released. Within six trading sessions, this value had depleted to Rs. 43,000 crore. Its purchase value of equity in all Adani Group companies is Rs. 30,127 crore.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Narendra Modi
    State Bank of India (SBI)
    Adani Group
    Life Insurance Corporation of India

    Latest

    These homemade mosquito repellent sprays actually work Natural and Home Remedies
    Box office: Rani Mukerji's 'Mrs. Chatterjee Vs Norway' collections drop Box Office
    How to redeem Free Fire MAX codes for March 21 Garena Free Fire MAX
    Pro-Khalistani protest erupts in US over action against Amritpal Singh Khalistani

    Narendra Modi

    Ladakh border situation dangerous; India-China forces deployed very close: Jaishankar S Jaishankar
    Accidents, jams on Bengaluru-Mysuru Expressway inaugurated last week: Know why Karnataka
    Japan PM to seek India's support for new Indo-Pacific plan  Japan
    PM Modi, Sheikh Hasina to inaugurate India-Bangladesh friendship pipeline today Sheikh Hasina

    State Bank of India (SBI)

    Electoral bond sales begin in India: How to buy them? Finance
    How has Indian Rupee performed against US Dollar since Independence? India
    LIC, Reliance among Indian companies in Fortune Global 500 list Walmart
    SBI customers can avail banking services via WhatsApp: Here's how WhatsApp

    Adani Group

    'Trust the judicial process': Amit Shah's advice on Adani-Hindenburg row Amit Shah
    BJP corners Congress on its 'How did Pulwama happen' remark Rajasthan
    Opposition parties meet to strategize before Budget Session resumes today Mallikarjun Kharge
    BJP responds to KTR's 'Adani is proxy of PM' claims Telangana

    Life Insurance Corporation of India

    Regulators monitoring Adani-Hindenburg crisis, FPO pullout hardly impacted economy: Sitharaman Nirmala Sitharaman
    Ruckus in Parliament as Opposition demands discussion on Adani-Hindenburg row Parliament
    Hindenburg report under evaluation, Adani Group would be questioned: LIC LIC
    Ahead of IPO, anchor investors show massive interest in LIC Initial Public Offering (IPO)

    Love Politics News?

    Subscribe to stay updated.

    Politics Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023