Cong holds protests over Adani scam, demands probe
Source: Chronicle News Service

Imphal, February 06 2023: Demanding investigation into alleged stock manipulation through investment of huge money of SB1 and L1C to the Adani Group, Manipur Pradesh Congress Committee (MPCC) staged a protest in front of LIC, Imphal office here on Monday as part of party's nationwide movement.

The Congress party's protest came in the wake of allegations of fraud and stock manipulation by Adani group which came to light after a US-based short-selling firm, Hindenburg Research, accused the Adam group of various fraudulent practices.

According to MPCC president K Meghachandra, Con gress party staged protest in front of every LIC and SBI offices in the districts and the protest on Monday by City district, Imphal East and Imphal West districts was participated by many Congress leaders and workers.

He said that huge money deposited by crores of account holders of LIC and SBI were found invested into Adani Group with the pressure from PM Modi without taking consent of the account holders.

While contending that all the money of individual account holders of LIC and SBI have vanished, K Meghachandra said that around Rs 33,000 crore deposited by 33 crores LIC account holders and Rs 80,000 crore of 45 crores SBI account holders have been lost after the money were invested to Adani group.

He said Congress party demanded a thorough investigation into the scam either by the Supreme Court of India led by chief justice or by a Joint Parliamentary Committee but ruling parties particularly the BJP remain adamant to the demand.

CLP leader Okram Ibobi Singh, who also took part in the protest, said that a thorough research by a US-based growth researcher found Adani Group's fraudulent practices and around Rs 70,000 crore of Adani's money was found to be those deposited by crores of LIC and SBI account holders.

The forcible investment of LIC and SBI account holders' money to Adani group would not be possible without the endorsement of PM Modi and accordingly the Congress and Opposition parties have been demanding a thorough probe into the scam either by the supreme court or by the joint parliamentary committee, he said, adding that the government led by PM Modi should come forward to investigate the scam.

Joining the nationwide protest launched by Congress party against the Adani Group whose alleged under-dealing were exposed in a recent investigative report, members and volunteers of Thoubal District Congress Committee (TDCC) also stormed the SBI Thoubal branch and EIC offices and shouted various slogans, on Monday.

A part of the protest agitation demanding investigation into the Hindenburg report by the Chief Justice of the Supreme Court of India or by a joint parliamentary committee and to come out with means to save the investors, the TDCC volunteers and members stormed the SBI and LIC offices.

Speaking to reporters on the side-lines of the protest, TDCC president N Lukhoi affirmed that the Congress will always stand for the people and declared that the manner in which the hard-earned money of the public is being looted and invested in big companies is not acceptable.

He further informed that the BJP-led government in the country is looting the hard-earned money of the people which are invested in the SBI and Life Insurance Corporation and further investing it to big companies cannot be accepted by the Congress under any circumstances.

During the agitation, protestors used placards which read "Discuss Forceful investment of LIC, SBI and Other Nationalised Banks to Adani in Parliament", "Mr Prime Minister Modi, Stop Benefitting Your Close Friends and select Billionaires at the cost of Common Man's hard earned saving", "Probe Hindenburg Research Report by the Chief Justice (SC) or JPC" .

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