Probe allegations against Adani group: Youth Cong


Chandigarh, February 10

The Chandigarh Youth Congress (CYC) today staged a protest outside its party office demanding a probe into the allegations of fraud made against the Adani Group in the Hindenburg research report.

The protest was led by CYC president Manoj Lubana, who stated that the party had been demanding a joint parliamentary committee (JPC) probe or Supreme Court-monitored probe into the matter. He added, “The question arises on SEBI and RBI, being the financial regulators of the country. This fraud couldn’t have gone unnoticed by the two institutions.”

“People of India have seen how the wealth of Gautam Adani has increased over the years. Those people, who had invested in LIC, have lost their money. Shares of Adani Group are dwindling with each passing day,” said HS Lucky, president, city Congress.

Carrying banners, several CYC workers had gathered and raised slogans against the Central Government. The security around the area was beefed up with deployment of a large number of police personnel and installation of barricades.

Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations against it, including that of fraudulent transactions and share price manipulation. The group has dismissed the allegations as lies.

Opposition parties, including the Congress, have alleged that the meltdown in Adani Group shares was a scam that involved common people’s money as LIC and SBI had invested in them.