Yechury demands court-monitored probe into Adani issue


1 min read
Read later
Print
Share

Sitaram Yechury I ANI

Kolkata: The CPI(M) on Monday demanded that a court-monitored highest-level investigation be ordered into the Adani issue following the publication of the report of a US-based investment research firm that made a litany of allegations, including fraudulent transactions and share price manipulation at the group.

CPI(M) general secretary Sitaram Yechury also asked on the basis of what assessment PSU banks and financial institutions including LIC provided loans to the business conglomerate, touted to be one of the richest in the world.

"A central government must order a court-monitored highest-level investigation into the Adani Group shares issue," he said at a public meeting of the CPI(M) at Esplanade after the conclusion of a three-day Central Committee meeting of the party here.

He demanded that those found responsible be brought to book and that the people's assets be secured.

The US-based firm Hindenburg Research last week released a report alleging that the Adani Group had "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".

Adani group's listed companies have lost over USD 70 billion since the January 24 report that flagged high debt levels at the ports-to-energy conglomerate and the alleged use of offshore entities in tax havens.

Adani group has denied all charges and threatened to sue the US firm.

With the Union Budget scheduled to be placed in Parliament on February one, Yechury demanded that the BJP-led government announce public investments that, he said, will lead to job creation.

He also demanded that GST be removed on essential goods and that the rich be taxed on their accumulated wealth.

PTI

Add Comment
Related Topics

Get daily updates from Mathrubhumi.com

Newsletter
Youtube
Telegram
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.

IN CASE YOU MISSED IT
court gavel, judiciary, judges, hammer

1 min

Confusion prevails as union govt notifies only one bench of GST appellate tribunal for Kerala

Sep 23, 2023


cash

1 min

RBI raises concern over mounting arrears in cooperative societies

Aug 29, 2023


1

1 min

Kerala fetches Rs 21.5 cr thro sales of packaged drinking water

Oct 8, 2022