AAP MP moves suspension notice in RS seeking discussion on Adani issue

NEW DELHI: Aam Admi Party (AAP) MP Sanjay Singh on Monday moved a suspension of business notice in the Rajya Sabha demanding a discussion on the Hindenburg report against the Adani Group under Rule 267.

The notice stated that public sector banks and LIC lost money invested in the Adani group of companies after the Hindenburg report.

While, on Wednesday, last week, Singh had demanded suspension of business under rule 267. However, the chair rejected the notice following a walkout by the AAP members.

Even on Thursday, last week, Singh moved a suspension of business notice in Rajya Sabha on Thursday demanding a discussion on the Hindenburg report against the Adani Group.

The concerned report from US-based short-seller firm Hindenburg Research surfaced on January 24 claiming that the Adani Group had weak business fundamentals, and was involved in stock manipulation and accounting fraud, among others.

According to a statement by the Adani Group, the Adani portfolio and the Adani verticals are focused on bringing India into the global economy and nation-building. In the summary of the long response by Adani Group, it said the report was "nothing but a lie".

The report, however, triggered a sell-off of shares of all Adani Group companies. The Budget session of Parliament started on January 31 with a joint address by President Droupadi Murmu.

Union Finance Minister Nirmala Sitharaman presented the Budget 2023-24 on February 1. Since the presentation of the Budget, there has been no business in Parliament because of continued logjam over the Adani issue.

The Opposition members demanded that the government respond in Parliament on Adani stocks, leading to disruptions and multiple adjournments in both Houses.