Opposition demands JPC or CJI-monitored probe into Adani Group

The opposition parties also demanded that there should be day-to-day reporting of the Joint Parliament Committee (JPC) or the SC-monitored probe into the issue which concerns public money.

New Delhi, Feb 02: A united opposition on Thursday demanded a Joint Parliament Committee or a Supreme Court-monitored probe into the allegations of fraud against the Adani Group that have triggered an unprecedented stock crash.

Leader of Opposition in Rajya Sabha, Mallikarjun Kharge said the opposition parties also demanded that there should be day-to-day reporting of the Joint Parliament Committee (JPC) or the SC-monitored probe into the issue which concerns public money.

"We have given the suspension of Business Notice under rule 267 to discuss the issue of investment by LIC, Public Sector Banks and financial institutions in companies losing market value, endangering the hard-earned money of crores of Indians," Kharge told reporters.

"Keeping public interest in mind, we want a thorough probe into the Adani issue either by a Joint Parliamentary Committee (JPC) or a Supreme Court-monitored Committee. There should also be day-to-day reporting of the investigation on the issue," Kharge said.

"We want (Centre) to form a JPC to investigate this or take a day-to-day report under the supervision of CJI. People are losing crores of rupees by investing in LIC, SBI and other nationalised banks. We need to have a discussion in Parliament to know the truth," he added.

Leaders of several opposition parties earlier met in Parliament and decided to raise the issue in both Houses.

Adani Enterprises called off its Rs 20,000 crore share sale after the company's stocks took a beating following criticism by American short seller Hindenburg Research.

"The Board of Directors of the Company at its meeting held today i.e. February 1, 2023 has decided, in the interest of its subscribers, not to proceed with the further public offer (FPO) of equity shares aggregating up to Rs 20,000 crore of face value Rs 1 each on partly paid-up basis, which was fully subscribed," the company said in an exchange filing.