The Congress party has insisted that the Stock Market Regulatory Board SEBI and the RBI should conduct an investigation into the complaint of stock market financial irregularities against the Adani Group.
He said that because public sector companies like LIC and SBI have invested in that group, the savings of crores are at risk.
Congress General Secretary Jairam Ramesh told reporters that the Hindenburg Research Institute has leveled allegations of serious financial irregularities against the Adani Group. The Adani Group has a close relationship with the central government.
SEBI and RBI should conduct an investigation into this financial fraud complaint to protect the financial transaction process of the country and considering the public interest.
Public sector companies like LIC, SBI have invested in Adani Group.
By this, the Prime Minister Modi government has put the country’s financial transaction process at great risk.
While private banks have not come forward to invest in Adani, public sector companies have invested generously.
About 8 percent of LIC’s funds (Rs. 74 thousand crores) and about 40 percent of SBI’s funds are invested in the Adani Group.
Savings of crores of Indians are now at great risk.
Adani Group has taken loans from banks due to artificially inflated share prices. Due to this, those banks have also incurred huge losses.
In the era of globalization of Indian business and stock market, the research reports of foreign companies cannot be ignored.
It has been alleged that Modi has close ties with the Adani Group since his tenure as the Chief Minister of Gujarat.
Will Prime Minister Modi, who claims to eradicate black money, turn a blind eye to the illegal activities of his close friend’s business conglomerate? Jairam Ramesh said whether the investigation will be conducted nominally.