The ruckus continued from Parliament to the street on Monday demanding an investigation into the Adani Group. The Congress is protesting in front of LIC and SBI offices across the country. The Congress party has demanded that the Adani Group’s financial transactions be investigated by a parliamentary panel or a Supreme Court committee.
As soon as the proceedings started in the Lok Sabha and Rajya Sabha, opposition MPs shouted slogans demanding a discussion on the Adani case. On this, the Speakers of both the Houses tried to convince the MPs, but they did not agree. After this, the proceedings of both the Houses were adjourned till 2 pm.
After this, 15 opposition parties, including the Congress, staged a sit-in in front of the Gandhi statue in the Parliament complex. Congress general secretary KC Venugopal alleged that the central government was using common people’s money to help its friends. The opposition demands that the government allow the issue to be discussed in Parliament.
On the other hand, shares of Adani Enterprises saw a decline of 5% till 11 am, they are trading close to Rs 1500. At the same time, British lender Standard Chartered Bank has stopped taking Adani Group bonds as collateral on margin loans. Earlier, Citigroup and Credit Suisse Bank have also done this.
Adani Group shares have also been witnessing a steady decline since the report of American short-seller Hindenburg Research. Shares of Adani Enterprises, the flagship company of the Adani Group, have fallen nearly 60% in 12 days since the Hindenburg research report came out.
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