Jairam Ramesh writes to RBI and SEBI seeking a probe into allegations against Adani Group
General Secretary in-charge communications of Congress writes a letter to RBI and SEBI against Adani Group by New York based Hindenburg Research.
In his letter, Ramesh urged the Central bank to look into two issues: “One, what is the truth of Adani’s exposure of the Indian Banking system? Two, what are the guarantees of issues that the Adani Group has been given that will be bailed out by Indian Banks if foreign funding dries up?”
Ramesh writes to RBI for investigation and control to ensure the Risks and Stability of financial status. Also he called for SEBI for the same that is “ Fair and Complete, with no favour.
The letter head was as follows by Congress Jairam Ramesh “Any failure to do cast a shadow on Indian corporate governance and on India’s financial regulators could affect to raise funds globally”
Jairam Ramesh questioned the State Bank of India (SBI) and Life Insurance Corporation (LIC) why they had bought heavy equities from Adani Group, where 30 crores of Indians trust with their life savings but faced lots of losses by bringing Adani Group stocks in recent days.
After getting reports of Hindenburg stock manipulation and fraud the share prices of Adani Group dropped significantly said Jairam Ramesh. Adani Group denied all the allegations on them and reported them to be lies.
Congress Jairam Ramesh updated that during the budget of Parliament in the last week the opposition lawmakers led by Congress repeatedly both houses demanded Joint Parliamentary Committee (JPC) or Supreme Court to monitor the probe against Adani Group.
This Press brief comes after the party claimed that the Rahul Gandhi plane was denied permission to land at Varanasi on 13th Feb 2023.Congress Government should focus on India;s Growth instead of focusing on other allegations.
Apart from these Congress Jairam Ramesh updated that the Supreme Court on 15th Feb 2023 agreed to hear a fresh request by Congress leaders to investigate under the supervision of Apex court.