Congress president Mallikarjun Kharge Thursday demanded an investigation into forced investments made by the Life Insurance Corporation, State Bank of India and other public institutions in the Adani Group. Addressing a press conference outside Parliament, Kharge sought a probe either by a Joint Parliamentary Committee or a team constituted by the Chief Justice of India to look into the issue, which has cost the government-owned companies huge losses in recent days.

Both Houses of Parliament were adjournedthis morning after Opposition leaders demanded a discussion on the issue. Prior to the start of the session, leaders of the Congress, DMK, TMC, SP, JD(U), Shiv Sena, CPI(M), CPI, NCP, IUML, NC, AAP and the Kerala Congress met in the Parliament complex to devise a joint strategy to take on the government during the ongoing Budget session and to raise the Adani Group issue.

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Shares of all Adani Group companies have taken a beating at the stock market after US-based firm Hindenburg Research accused the group of stock manipulation and fraud. Due to the fall, the group Wednesday decided to call off its follow-on public offer (FPO) and refund proceeds to its investors. This further resulted in shares of its flagship Adani Enterprises to tank 15 per cent today.

Members in both Houses submitted adjournment notices, stating that “a significant volume of public money through SBI and LIC is locked in the Adani Group.”

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Congress leader Jairam Ramesh said on Twitter that the government refused the demand by the Opposition for an investigation into the issue. “Both Houses of Parliament adjourned today till 2pm because Govt did not agree to combined Opposition demand for an investigation into forced investments by LIC, SBI & other public institutions that have lost huge value in recent days endangering savings of crores of Indians,” he wrote.