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Adani Stock Rout: Opposition Leaders Give Adjournment Notices In Parliament; Demand JPC Probe

Prominent among those MPs who have given adjournment notices, include Congress chief Whip in Rajya Sabha Naseer Hussain and party's Whip in Lok Sabha Manickam Tagore.

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Gautam Adani
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Leaders of several opposition parties on Friday submitted adjournment notices in both houses of Parliament demanding an immediate discussion on the Adani Group issue and also the border situation with China.

Who all gave the adjournment notices?

Prominent among those MPs who have given adjournment notices, include Congress chief Whip in Rajya Sabha Naseer Hussain and party's Whip in Lok Sabha Manickam Tagore.

Besides, BRS leader K Keshava Rao and Shiv Sena leader Priyanka Chaturvedi have also given notices under Rule 267 on the same issue.

Rule 267 allows for suspension of the day's business to debate issue suggested by member.

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Congress MPs in Rajya Sabha Amee Yajnik, Pramod Tiwari, Kumar Ketkar and Neeraj Dangi have also given similar notices on the issue under Rule 267.

"...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," said Hussain in his notice.

"The report 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," Rao said in his notice.

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Manish Tewari (Congress), in his notice in Lok Sabha, has, however, demanded a discussion on the border situation with China.

"....that this House do suspend Zero Hour and other businesses of the day to have a detailed discussion on the border situation with China. Since April 2020, China has engaged in what can only be described as a steady land grab," Tewari said in his notice.

He also alleged that China continues to build significant infrastructure, including bridges, roads and accommodation for its troops. 

"China is attempting to unilaterally change the status quo," he alleged.

The adjournment notices come a day after a united opposition stalled both houses of Parliament over the issue while demanding a Joint Parliamentary Committee probe or a Supreme Court-monitored probe into what they described a "scam".

Opposititon parties met in parliemnet

Opposition parties met Friday morning to coordinate their strategy in Parliament, a day after they unitedly led the charge against the government over the issue of the Adani Group stock rout.

At least 16 Opposition parties met on Friday morning to coordinate their strategy in Parliament and decided to step up their attack on the government, demanding an immediate discussion on the issue of Adani stock rout.

Among the 16 parties whose leaders met in the chamber of Leader of Opposition in Rajya Sabha Mallikarjun Kharge include the Congress, DMK, SP, AAP, BRS, Shiv Sena, RJD, JDU, CPIM, CPI, NCP, NC, IUML, Kerala Congress (Jose Mani), KC (Thomas), and the RSP.

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"Floor leaders of Opposition parties will meet at 10 am in the chamber of Leader of Opposition (in Rajya Sabha) Mallikarjun Kharge in Parliament House to coordinate strategy," said Congress general secretary Communications Jairam Ramesh.

Various opposition parties on Thursday stalled both houses of Parliament over the Adani issue and demanded a Joint Parliamentary Committee probe or a Supreme Court-monitored Committee investigation into it.

"The demand remains the same. Only an independent investigation will save LIC, SBI and other institutions forced by the Prime Minister to invest in the Adani Group," he said.

Adani group stocks, where LIC is heavily invested, have lost over USD 100 billion in value since a tiny New York short seller came out with a damning report alleging financial and accounting fraud by the ports-to-energy conglomerate. The Adani group has denied all charges and called the report malicious and full of lies.

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The rout in Adani group stocks has threatened the value of investments made by the Life Insurance Corporation (LIC) and public sector banks.

(With PTI Inputs)

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