New Delhi: The Congress on Thursday said it would hit the streets over the alleged Adani group scam and stage protests outside the offices of the LIC and the SBI across the country on February 6. The Congress has been targeting the business house for a long but stepped up its attack after a recent report from the US short-seller Hindenburg Research alleged fraud and stock manipulation by the Adani Group.
The Congress move came on a day the RBI asked the various banks to inform it about their exact exposure in the Adani group companies. “Responding to the public sentiments and large-scale outrage against the moves of the government, the Congress has decided to hold a nationwide district-level protest on February 6 in front of Life Insurance Corporation and State Bank of India offices,” AICC general secretary in charge of Organization KC Venugopal said.
"All the PCCs have been requested to issue necessary instructions to the DCCs so that apart from senior leaders, party functionaries and workers, mobilisation from BCC, Panchayat and Booth level is ensured in full measure," he said. According to Venugopal, the LIC has invested a total of Rs 36,474.78 crore in the Adani Group while various Indian banks together have invested a sum of nearly Rs 80,000 crores in the company.
"They continue to do so even when there is an allegation of stock manipulation, accounting fraud and other malfeasance. The Adani Group has lost 100 billion Dollars since the expose,” he said. Congress media head Pawan Khera cited figures to allege the increased LIC investment in the Adani group. “The LIC's stake in the flagship Adani Enterprises increased from less than 1 per cent to 4.23 per cent, the stake in Adani Total Gas increased from less than 1 per cent to 5.96 per cent, LIC's shareholding in Adani Transmission increased from 2.42 per cent to 3.65 per cent, and in Adani Green Energy it has increased from less than 1 per cent to 1.28 per cent,” he said.
“The Modi government has maintained silence on the Hindenburg Research report as if nothing has happened. We want to tell PM Modi, that we have nothing to say if you cheat your best friend, but shall not keep quiet if you cheat the investors of India - 29 crore policy holders of LIC and 45 crore account holders of SBI,” said Khera.
The Congress, which led the opposition parties to demand a probe into the alleged scam and did not allow the Parliament to run, clarified that it was not against an individual but wanted to safeguard the interests of the small investors who had put their hard-earned money in the LIC and the SBI.
“We are not targeting an individual. Our target is that the money of small investors which is stuck in financial institutions like LIC and SBI should be safe. Many financial institutions like LIC and SBI have invested money in the Adani group where some scam is taking place. We want a probe into the scam either by a joint parliamentary committee or the chief justice of India,” Congress president Mallikarjun Kharge said. He said that the opposition parties wanted to run Parliament but will keep fighting for justice for the commoners also.
