Hindenburg report on Adani: Opposition plans joint attack on govt with focus on SBI, LIC
More than 20 Opposition parties on Thursday decided to raise the crisis surrounding the Adani Group during the debate on the President’s speech scheduled to begin on February 13.
More than 20 Opposition parties on Thursday decided to raise the crisis surrounding the Adani Group during the debate on the President’s speech scheduled to begin on February 13. People aware of the matter indicated that the Opposition parties may not mention the New York-based short seller Hindenburg Research’s report so much as focus is on the impact on State Bank of India (SBI) and Life Insurance Corporation (LIC), two public-sector giants that may have exposure to Adani firms, and on the deposits of millions of common Indians in the two entities.
The parties will coordinate, for the first time, on the sequence of their speakers during the debate for better impact, and protest at the Gandhi statue in Parliament complex on Friday, demanding an inquiry, leaders aware of the plans said.
The parties have also decided that they will not raise their individual issues to retain focus on SBI and LIC. Top Opposition floor leaders of parties such as the Trinamool Congress (TMC), Samajwadi Party (SP) and Aam Aadmi Party (AAP) met at the office of Congress president and Rajya Sabha’s Leader of Opposition, Mallikarjun Kharge, at 10am to come up with a common strategy on the issue.
MPs from the Dravida Munnetra Kazhagam (DMK), TMC, SP, Janata Dal (United), Shiv Sena, Communist Party of India (Marxist), Communist Party of India, Nationalist Congress Party, Indian Union Muslim League (IUML), National Conference, AAP, Kerala Congress and Rashtriya Janata Dal were present in the meeting. Later, the Bharatiya Rashtra Samiti (BRS) joined Opposition parties in the protests in both Houses.
After a detailed discussion, the parties agreed that they will target the Modi government on “how LIC and SBI have been forced to invest in questionable enterprises which has led to massive losses”, one of the leaders said. “These public sector institutions are the custodians of the savings of the poor and middle class. This scam of monumental proportions must be discussed in the floor of the house,” the leader added, asking not to be named.
The Opposition parties decided they will not mention Hindenburg. “It wouldn’t be politically correct to level charges based on what a foreign entity has said in its report,” said a second senior leader present in the meeting.
“Our focus will be to demand a high-level enquiry. But parties will not make a collective demand for a particular form of enquiry,” added this leader.
The Congress is insisting on a JPC, pointing out that a JPC was constituted on an earlier issue related to the stock market, and the market regulator SEBI was established as a result of its report. “But TMC, CPI(M), AAP and SP may seek a Supreme Court-monitored probe,” said the leader quoted above.
“It has happened in the past that some party, mostly nudged by the ruling dispensation, raises a different issue and the government happily agrees to a debate to divert from our issue,” said a third member of the Opposition.
The Congress, TMC, AAP and DMK met again after the Houses was adjourned the first time to further strategise on the Adani issue. Later, a senior Opposition leader said they fear the treasury bench members may disrupt the House to prevent the issue related to SBI and LIC from being raised.
The Congress also sought information about Chinese businessman Chang Chung-Ling. “This name came in the AgustaWestland case. Manmohan Singh’s government ordered a JPC into that. They wanted to drag our name but the person involved is the partner of their friend,” Pawan Khera said.
