Congress demands JPC investigation into Hindenburg report on Adani group

Congress MP Digvijay Singh on Tuesday reiterated the demand for setting up a joint parliamentary committee JPC to probe the Hindenburg Research report that alleges irregularity in the business of the Adani Group conglomerateDuring a discussion on the presidents address in the Rajya Sabha Singh said Amrit Kaal has benefitted only a bunch of people and 21 people hold assets equal to 70 crore peopleRajya Sabha Chairman Jagdeep Dhankar intervened during the speech and said he may be called to authenticate some documents The Congress member agreedCiting the report by USbased shortseller Hindenburg Research report on the Adani Group Singh called for an investigation into the resignation of former UK prime minister Boris Johnsons brother who resigned from the firm Elara Capital after the report was releasedHe said the Hindenburg report alleges that Adani has a history of controversial business tactics including environmental violations and fraud It also accuses the company of using its political connections to win favourable treatment from the Indian governmentWith such allegations the government of India must come out with a clear report a clear statement How far is this correct Why are SEBI the regulatory authorities not coming out with a statement Their silence is something which casts aspersions on the interest the crony capitalism of the BJP Singh saidThe Congress leader also called for an investigation in the manner in which the Adani Group companys share reached Rs 4000 apiece from Rs 130 during the Covid pandemic when people were losing wealth Singh said people gaining from Amrit Kaal have seen 121 per cent growth He said 50 per cent businessmen filed 64 per cent GST and those 10 per cent people who benefit from Amrit Kaal pay only 3 per cent GSTRs 865 lakh crore loan waiver has been given to those who are consuming elixir during the Amrit Kaal Lot of things are being said about Adani His loan of Rs 84000 crore has been waived off Those who are consuming poison in that no loan waiver has been given to farmers poor Singh saidAlso read Adani Group row Financial markets highly regulated Centre monitoring situation says BJPHe said members demanded a JPC under rule 267 but it has not been accepted Hindenburg report The matter that has come to the fore from the report today the world is discussing it but we cant discuss it If we dont raise it in the House then where will we raise itSingh cited previous JPCs including on Harshad Mehta on Ketan Parekh and asked What was wrong in our demand If the prime minister he said has courage he will replyDhankar intervened to explain the reason for rejection of the demand under rule 267 and said the notices were not accepted because they were not in order At this Congress leader Jairam Ramesh had some words with Dhankar on his intervention and asked him to let Singh finish his speechBJP member GVL Narasimha Rao also objected to the part of Singhs speech under House rule leading to an uproar According to Singh the Hindenburg report is being discussed overseas and investors have lost Rs 207 lakh crore This he said is a matter which needs to be discussedHe also asked for the Special Investigation Team report on black money and status of investigation in the Panama papers Besides he asked for information on Chang ChungLing named in the Hindenburg report as a director of multiple Adani Group firmsThe Congress member also raised the issue of Rafale fighter jet deal Allow us to discuss crony capitalism mushrooming in this country he saidThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever