What is govt’s role in Adani case?

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As the opposition demanded a JPC probe, BJP MP Mahesh Jethmalani asked what the government had to do with the Adani case.

According to Jethmalani, LIC made investments as an independent organization.

Mahesh Jethmalani, a senior advocate and BJP Rajya Sabha member, asked the government what it has to do with the wrongdoing, if any, for which the opposition has demanded a joint parliamentary committee probe. “What role does the government play in this? Nobody has said anything about the government’s role in this. The LIC (Life Insurance Corporation) is a separate entity. They have deided to make some investments “Jethmalani went on to say that if there is any wrongdoing by the Group, Sebi and the RBI will look into it. “The demand for a JPC investigation is not justified,” Jethmalani said.

The Hindenburg report, which accused Group of massive stock manipulation, sparked a crisis, sending shares plummeting.

The company has denied the allegations and decided to cancel its 20,000 crores Follow-on Public Offer (FPO). S&P Dow Jones announced on Friday that Adani Enterprises will be removed from sustainability indices beginning February 7.

Adani‘s former lawyer and ex-solicitor general of India Harish Salve in an interview with India Today on Thursday commented on the Adani row and said nobody is happy that Indian businessmen are making their presence felt in the world today.

Taking on Hindenburg, Salve said India does not have a proper legal framework to sue the US-based Hindenburg.

If a case filed against them, Gautam Adani’s grandchildren will fighting the case. The allegations against Adani will  investigated and proved false in time, while Hindenburg will remain scot-free, Salve said.


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