Action begins on Adani Group: RBI, SEBI and Modi government engaged in investigation, uproar in Parliament
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New Delhi : The matter of presenting the report against Adani Group by Hindenburg Research, an American financial research company, is now getting wider and more serious. On Wednesday, Gautam Adani, chairman of the Adani Group, had to announce the withdrawal of the FPO (follow-on public issue) of Adani Enterprises Limited. At the same time, the fall in the shares of Adani Group companies has been going on continuously for the last six days. With the opening of the market on Thursday morning, the shares of Adani Enterprises fell by about 15 per cent. Along with this, there has been an outcry in the market due to the break in the shares of Adani Group companies. Now the news is that action has started on Adani Group regarding the report of shot seller Hindenburg Research.
RBI asked for loan details from banks
According to media reports quoting sources, market regulator SEBI has started investigation on Adani Group after the report of American short seller Hindenburg Research. There is also news that the Modi government at the Center is in constant touch with the market regulator SEBI in the matter of Adani Group. On the other hand, there is also news that the Reserve Bank of India (RBI) has also sought information about the loans given to the Adani Group from the country’s banks. Apart from this, the uproar of the opposition is going on in the Parliament regarding the Adani case.
India’s central bank (Reserve Bank of India) has asked local banks for details of their exposure to the Adani group of companies, government and banking sources, reports Reuters pic.twitter.com/EHxDfVNmhD
— ANI (@ANI) February 2, 2023
Investigation should be done under the supervision of JPC or Supreme Court
On the other hand, Leader of the Opposition in the Rajya Sabha and Congress President Mallikarjun Kharge on Thursday demanded a discussion on the Adani Enterprises issue in both the Houses of Parliament and also urged that a Joint Parliamentary Committee (JPC) be constituted to investigate the matter. Or it should be investigated under the supervision of the Supreme Court. After the adjournment of the meeting of Lok Sabha and Rajya Sabha, Kharge said that we want to say that why is the government giving loans to such companies under pressure? Keeping in view the interest of the people, we are demanding a discussion on the investment of LIC and SBI. He said that after the investigation, the daily report should be kept before the public so that there is transparency and people believe that their money is saved.
FPO of Adani Enterprises withdrawn
Earlier, while announcing the FPO back, Gautam Adani, Chairman of Adani Enterprises Limited, had said on Wednesday that the FPO was successfully closed on Tuesday despite a lot of ups and downs in the company’s stock last week. Your trust in the company and its business is our confidence booster, for which we are grateful to you. Adani said that today there were unexpected ups and downs in the company’s stock. He said that in view of the extraordinary circumstances, the board of directors of the company has decided that it would not be ethically sound to go ahead with the FPO.
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