18 opposition party leaders to meet & discuss next strategy in Adani-Hindenburg matter

As the second leg of the Budget session of the Parliament has resumed, 18 opposition party leaders will hold a meeting to discuss the next strategy to corner the central government on the Adani-Hindenburg matter on Wednesday, March 15 at 10 am. According to sources, a proposal for a letter to be signed by all MPs may be discussed. Further, a proposal to march to the Enforcement Directorate office may also be considered.

#BudgetSession2023 | 18 opposition party leaders to meet & discuss the next strategy in the Adani matter, tomorrow at 10am. A proposal for a letter to be signed by all MPs may be discussed and a protest march to the ED office may also be considered.

— ANI (@ANI) March 14, 2023

On Tuesday, March 14, the Opposition raised the Adani issue in Parliament and demanded the Joint Parliamentary Committee (JPC) probe into the Hindenburg-Adani report. As a result of massive sloganeering by Opposition MPs on the Adani stocks issue, Rajya Sabha was adjourned. 

It is worth mentioning that the Supreme Court set up an expert committee on the issue arising from the Hindenburg Research report on Adani Group companies. The committee will consist of six members, headed by former apex court judge Justice AM Sapre. Sixteen parties reportedly participated in the opposition party leaders’ meeting chaired by Leader of Opposition in Rajya Sabha Mallikarjun Kharge in Parliament on Monday, March 13. 

Indian National Congress; Dravida Munnetra Kazhagam (DMK), Samajwadi Party; Janata Dal (United); Aam Aadmi Party; Communist Party of India (Marxist); Kerala Congress; Nationalist Congress Party; Communist Party of India; Indian Union Muslim League; Shiv Sena (Uddhav Thackeray); Marumalarchi Dravida Munnetra Kazhagam; Rashtriya Janata Dal; Jharkhand Mukti Morcha; Viduthalai Chiruthaigal Katchi and the NC participated in the meeting.

'Microphones are switched off when we raise Adani issue', alleges Congress chief 

On Monday, March 13, Congress chief Mallikarjun Kharge alleged that microphones are switched off whenever the opposition raised the Adani issue in the Parliament.

“There is no rule of law and democracy under Modi rule. They are running the country like a dictatorship, and then they talk about democracy,” Kharge alleged, adding that Opposition are demanding the constitution of JPC on the Adani stocks issue. 

Adani Vs Hindenburg

After the Adani Group called off its fully subscribed FPO on February 1, the Hindenburg Research's report alleged the businessman Gautam Adani-led group was in stock price manipulation and accounting fraud, among others. However, the Adani Group maintained that the accusations made against it were to malign the company's image in public.

Terming the allegations 'malicious', the group reportedly hired a leading defence law firm Wachtell in its battle against Hindenburg Research. The Adani Group also consulted senior lawyers at Wachtell, Lipton, Rosen & Katz, to advise it on how to stem the crisis.