New Delhi: Both Houses of Parliament were adjourned till 2 pm Friday as Opposition parties kept up the heat on the government for a second day in a row over a discussion and probe into fraud allegations against the Adani Group by American short-seller Hindenburg Research
Members of 16 Opposition parties met in the chamber of Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Friday morning, a day after Parliament was adjourned early amid demands for a probe by a joint parliamentary committee or a Supreme Court-monitored panel.
Later, they submitted adjournment notices in both Houses, demanding an immediate discussion on the risk to investors from the Adani Group crisis, as well as the border situation with China.
Incidentally, Rule 267 of the Rajya Sabha rule book allows the suspension of the day’s business to debate issues suggested by members.
In his notice, Congress Chief Whip in Rajya Sabha Naseer Hussain said: “This House do suspend the Zero Hour and relevant rules related to Question Hour and other businesses of the day to discuss the issue of fraud in investment by LIC, SBI, public sector banks and other financial institutions losing market value, endangering the hard-earned savings of crores of Indians.”
BRS leader K. Keshava Rao said in his notice: “The report (by Hindenburg Research) exposes the dangers to which the Indian people and economy are subjected to and merit immediate discussion, adjourning today’s list of business in the House.”
Lok Sabha Speaker Om Birla, however, denied requests and asked Opposition members “not to make unsubstantiated claims”. Rajya Sabha chairperson and Vice President Jagdeep Dhankhar too rejected the motions, saying they were “not in order”.
This infuriated the Opposition as they kept shouting slogans, leading to the adjournment of both Houses.
Hindenburg Research had in a report on 24 January flagged alleged financial malpractice in Gautam Adani’s conglomerate, which saw a bloodbath in the group’s shares – nearly $100 billion was wiped out in seven days since the incriminatory document.
Opposition parties have alleged that the drastic fall in Adani Group shares has put public money in danger as Life Insurance Company (LIC) and the State Bank of India are heavy investors.
The Congress has alleged that LIC and SBI have been “forced” to invest in the Adani Group.
Also read: 16 Oppn parties meet in Parliament to step up attack on govt, seek discussion…