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Congress flags 'Modani' ties post-Hindenburg halt, highlighting unresolved probes and corruption, urging a Joint Parliamentary Committee inquiry.

Hindenburg Shuts Down: No clean chit for ‘Modani’, says Congress

After Hindenburg's closure, Congress highlights alleged ties between Modi and Adani, citing unresolved corruption probes and demanding a Joint Parliamentary Committee investigation.

Congress alleges 'Modani' Scam, calls for JPC probe into Adani Group controversies

Congress insists the Adani-Modani nexus needs deeper investigation, highlighting Hindenburg's report on Adani Group and alleging misuse of foreign policy, SEBI, and institutions. They demand a Joint Parliamentary Committee probe into the matter.

The Congress party asserted on Friday that the closure of Hindenburg Research does not absolve the alleged nexus between Prime Minister Narendra Modi and the Adani Group, a relationship they have dubbed "Modani."
Hindenburg, the U.S.-based investment research firm known for short-selling, which previously published reports causing significant financial losses for billionaire Gautam Adani and his companies, has shut down, as announced by its founder, Nate Anderson, on Wednesday.
In a statement, Congress highlighted the significance of the January 2023 Hindenburg report, which prompted the Supreme Court of India to establish an Expert Committee to investigate allegations against the Adani Group. "The Hindenburg report addressed only a fraction of the extensive 'Modani MegaScam,' focusing primarily on securities law violations," the statement noted. Congress claimed that out of the 100 questions posed to the Prime Minister regarding the Adani scandal, only 21 were related to Hindenburg's revelations. 
<blockquote class="twitter-tweet">
हिंडनबर्ग रिसर्च के बंद होने का यह मतलब नहीं है कि 'मोदानी' को क्लीन चिट मिल गई है। जनवरी 2023 में आई हिंडनबर्ग रिपोर्ट इतनी गंभीर साबित हुई थी कि भारत के सर्वोच्च न्यायालय को उसमें अडानी ग्रुप के खिलाफ़ सामने आए आरोपों की जांच के लिए एक विशेषज्ञ समिति का गठन करने के लिए मजबूर&hellip; <a href="https://t.co/CUOfduldqK">pic.twitter.com/CUOfduldqK</a>
&mdash; Congress (@INCIndia) <a href="https://twitter.com/INCIndia/status/1879808184619340144?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
&nbsp;
&nbsp;
The party accused the Modi government of leveraging foreign policy to benefit the Adani Group, manipulating investigative agencies, and compromising Indian institutions like SEBI. Congress also criticized the prolonged SEBI investigation, which remains unresolved nearly two years after the Supreme Court's directive.
Also Read: <a href="https://www.editorji.com/business-news/hindenburg-research-the-us-based-short-seller-behind-adani-report-to-shut-down-1737005874632" target="_blank">Hindenburg Research, the US-based short seller behind Adani report, to shut down</a>
The statement referenced U.S. allegations against the Adani Group, including bribery for solar power contracts and money laundering suspicions leading to frozen bank accounts by Swiss authorities. Congress further alleged significant over-invoicing of coal imports from Indonesia, resulting in inflated electricity prices in Gujarat and large sums being siphoned through shell companies.
Congress called for a Joint Parliamentary Committee (JPC) investigation, emphasizing the need for accountability and criticizing the Indian state institutions for allegedly protecting the powerful while ignoring the plight of the common people.&nbsp;

Nate Anderson, founder of the US-based short-seller firm Hindenburg Research, has announced the closure of operations. Anderson clarified that the decision was not prompted by external threats, health issues, or personal matters.

Hindenburg Research, the US-based short seller behind Adani report, to shut down

Nate Anderson, founder of the US-based short-seller firm Hindenburg Research, has announced the closure of operations. Anderson clarified that the decision was not prompted by external threats, health issues, or personal matters.

Nate Anderson, the founder of the US-based short-selling firm Hindenburg Research, announced on Thursday his decision to close down the operations of the investigative firm.
<a href="https://hindenburgresearch.com/gratitude/" target="_blank">In an official statement</a>, Anderson explained that the closure was not due to external pressures, personal health concerns, or significant problems but rather his desire to step away from the demanding nature of his work and shift focus to other life aspects. He stated, "As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research."
Anderson further clarified, "So, why disband now? There is not one specific thing&mdash;no particular threat, no health issue, and no big personal issue." Reflecting on the challenges he faced throughout his journey, Anderson acknowledged the financial difficulties, legal battles, and moments of self-doubt. He remarked, "I had no money when I started&mdash;and after catching 3 lawsuits immediately out of the gate, I quickly had less than no money."
Looking ahead, Anderson plans to open-source the investigative techniques used by his firm to inspire others in uncovering fraud. Over the next six months, he intends to create materials and videos detailing the methodologies that made Hindenburg Research successful. Although his future plans remain uncertain, he expressed deep gratitude to his team, family, and supporters.
In January 2023, Hindenburg Research made headlines by publishing a report accusing the Adani Group of financial irregularities, resulting in a substantial drop in the company&rsquo;s stock price. The Adani Group swiftly dismissed the allegations. Addressing the issue at the Adani Enterprises Annual General Meeting (AGM) in June, Group Chairman Gautam Adani stated, "We were faced with baseless accusations made by a foreign short seller, that questioned our decades of hard work." He added, "In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your Group has been established."

The New York-based firm reiterated that when it released its report alleging long-term stock manipulation and accounting fraud by the Adani group, it had disclosed its short position on Adani stocks

Hindenburg Research receives show cause notice from SEBI over Adani stock bets

The New York-based firm reiterated that when it released its report alleging long-term stock manipulation and accounting fraud by the Adani group, it had disclosed its short position on Adani stocks

US short seller Hindenburg Research, known for its allegations against the Adani Group concerning stock market manipulation and accounting fraud, announced on Tuesday that it has received a show cause notice from the Securities and Exchange Board of India or SEBI for alleged violations in placing bets on Adani stocks. Hindenburg described the show cause notice as "nonsense" and claimed it was an attempt to "silence and intimidate" those exposing corruption and fraud by powerful individuals in India. The New York-based firm reiterated that when it released its report alleging long-term stock manipulation and accounting fraud by the Adani group, it had disclosed its short position on Adani stocks. Also read/watch - <a title="73% of NRIs plan to file ITR by July, SBNRI survey finds" href="https://www.editorji.com/business-news/73-of-nris-plan-to-file-itr-by-july-sbnri-survey-finds-1719837951114">73% of NRIs plan to file ITR by July, SBNRI survey finds</a> &nbsp; The firm also revealed that Kotak Bank had created and managed an offshore fund structure used by its "investor partner" to bet against the conglomerate, but added that it might "barely come out above breakeven" on the trade. 
Without disclosing the name of the investor, Hindenburg said it made USD 4.1 million in gross revenue through "gains related to Adani shorts from that investor relationship" and just USD 31,000 through its short position of the conglomerate's US bonds.
Adani group has repeatedly denied all allegations.
"After 1.5 years Of investigation, SEBI identified zero factual inaccuracies with our Adani research. Instead, the regulator took issue with things like our use of the word 'scandal' when describing multiple prior instances of Adani promoters being charged with fraud by Indian regulators, and our quoting of an individual that alleged SEBI is corrupt and works 'hand in glove' with conglomerates like Adani to help it skirt regulations," it said.








SC's CJI Chandrachud-led bench asserts Supreme Court can't question SEBI probe solely on media reports





 
 













 



Adani versus Hindenburg case: Supreme Court reserves verdict on PILs for court-monitored probe

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<h2>SC's CJI Chandrachud-led bench asserts Supreme Court can't question SEBI probe solely on media reports</h2>
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The Supreme Court has reserved its verdict on petitions probing fraud allegations against Adani Group following the Hindenburg Research report. Chief Justice DY Chandrachud led the bench, stressing SEBI's independence from media influence.
Advocate Prashant Bhushan claimed SEBI's probe lacked credibility due to unaddressed fund links involving Vinod Adani. However, the court stated SEBI couldn't act based solely on media reports.
The case revolves around accusations of Adani inflating share prices, causing a significant stock drop. Petitions also questioned SEBI Act changes shielding Adani Group's market maneuvers.
Also read/watch - <a title="Tesla eyes $2 billion investment in India but with conditions: Report" href="https://www.editorji.com/business-news/economy/tesla-eyes-2-billion-investment-in-india-but-with-conditions-report-1700823418348#google_vignette">Tesla eyes $2 billion investment in India but with conditions: Report</a>
Earlier, SEBI's independent investigation and an expert committee found no major lapses. The court addressed allegations of media manipulation influencing India's actions.
Sharp exchanges erupted over SEBI's impartiality and committee members' associations. Despite conflict claims, the Court sought substantial evidence.
Meanwhile, SEBI affirmed nearing completion of its investigation, citing a need for information from foreign regulators to conclude the two remaining probes.

After Hindenburg's report on Jack Dorsey's Block Inc., the billionaires wealth plunged by $526 million on Thursday

Hindenburg report impact: Dorsey's wealth tumbles $526 million

After Hindenburg's report on Jack Dorsey's Block Inc., the billionaires wealth plunged by $526 million on Thursday

After the Hindenburg report on Block Inc., its co-founder Jack Dorsey's wealth plunged by $526 million on Thursday. This is his worst single day decline since May. According to the Bloomberg Billionaires Index the billionaire is now worth $4.4 billion.&nbsp;
Hindenburg released a report on Thursday claiming Block had inflated user metrics, and that the stock has downside of 65% to 75% &ldquo;on a purely fundamental basis.&rdquo; Following the report, Block fell as much as 22% before closing down at 15% on Thursday.&nbsp;
As per Business Standard, Block Inc. has denied the allegations and said that it plans to explore legal action against the short-seller.
Hindenburg's report on Gautam Adani early this year, had sent a tumultuous wave across the Indian market.&nbsp;

Short seller Hindenburg research will soon release a new report on another target. However, the research firm hasn't provided any details on the timing of the release

Another 'big report' coming soon, says Hindenburg Research in a cryptic tweet

U.S based short seller Hindenburg research claims that it will soon release a new report. However, the research firm hasn't provided any details on the timing of the release

Hindenburg research has claimed that a new report on another target will be released soon. The U.S. Short seller took to twitter and said , 'New report soon&mdash;another big one'.&nbsp;
However, the tweet hasn't revealed details about the timing of the report or any other information.&nbsp;
Hindenburg's report on Adani group accused the conglomerate of accounting fraud and stock price manipulation. Post the report, more than $150 billion from the Indian conglomerate&rsquo;s market value was wiped out.&nbsp;
Adani Group had strongly denied all the allegations, saying that they were "nothing but a lie."&nbsp; The Group said the report was driven by "an ulterior motive" to "create a false market" to allow the US firm to make financial gains.
According to the Hurun Global Rich List released just yesterday, Adani lost Rs 3,000 crore of wealth every week in 2022-23 and his overall networth saw a 60% erosion from its peak.&nbsp;

Adani plans to build a township and a special economic zone on the land, the CM said.

Adani group wants 94,000 sq m of land for...: Gujarat CM tells Assembly amid Hindenburg row

Adani plans to build a township and a special economic zone on the land, the CM said.

Amid a raging political controversy over the Adani-Hindenburg issue, the Gujarat government has revealed what the conglomerate is planning in the state.
Gujarat Chief Minister Bhupendra Patel on 24 February 2023 informed the Assembly that the Adani group has sought almost 94,000 square metres of grazing and non-arable land in Ahmedabad and Gandhinagar.
Adani plans to build a township and a special economic zone on the land, the CM said. The demands are still pending with the state government.

Ramesh said that the country's Nehruvian legacy ensures that people like Soros cannot determine Indian election outcomes.

Adani row: Congress on US billionaire George Soros's 'democracy revival' comment after Modi govt's attack

Ramesh said that the country's Nehruvian legacy ensures that people like Soros cannot determine Indian election outcomes.

Amid a war of words between the Indian government and US billionaire investor George Soros over the Adani-Hindenburg controversy, the Opposition Congress party commented on the issue.
Congress MP Jairam Ramesh said that the possibility of a democratic revival in India due to the Adani row depends on Opposition parties and India's electoral process. Ramesh said that the country's Nehruvian legacy ensures that people like Soros cannot determine Indian election outcomes.
Earlier, George Soros had said that the Adani issue may "weaken Modi's stranglehold", and he expects a "democratic revival in India". The Modi government called it Soros' conspiracy against Indian democracy.

Soros had reportedly said that the controversy will "weaken Modi's stranglehold on India's federal government", and open the door for "much-needed institutional reforms".

Adani row: Modi govt accuses US billionaire George Soros of conspiring against Indian democracy

Soros had reportedly said that the controversy will "weaken Modi's stranglehold on India's federal government", and open the door for "much-needed institutional reforms".

The Indian government on 17 February 2023 responded to US billionaire investor George Soros' comments on the Adani-Hindenburg controversy.
Soros had reportedly said that the controversy will "weaken Modi's stranglehold on India's federal government", and open the door for "much-needed institutional reforms". He had added that he may be "naive", but expects a "democratic revival in India".
Union minister Smriti Irani led the government's offensive against Soros on 17 February. This war is being mounted against India and what stands between the war and India's interests is Modi, Irani told reporters.
Everyone should condemn his remarks in one voice, she said. She alleged that Soros wants to destroy Indian democracy and wanted some "hand-picked" people to run the government here. He has created a fund of over USD one billion to intervene in democratic systems, including in India, she claimed.
(With PTI inputs)
Also Watch: <a href="https://www.editorji.com/india-news/adani-row-rahul-gandhi-shows-photo-of-pm-modi-gautam-adani-in-lok-sabha-1675762102894">Adani row: Rahul Gandhi shows old pic of Modi, Gautam Adani in Lok Sabha, asks 'what's the relationship?'</a>

The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

Adani row: Supreme Court to hear plea for probe on Hindenburg report by retired SC judge on Feb 10

The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

With the Adani-Hindenburg controversy continuing to rage, the Supreme Court will hear petitions related to the issue on 10 February 2023.
The top court on 9 February agreed to hear a PIL which wants the Union government to set-up a committee monitored by a retired Supreme Court judge. The petitioner wants the committee to investigate into the Hindenburg Research report which levelled a litany of allegations against the Adani group.
Earlier, a PIL had been filed which sought prosecution of Hindenburg founder Nathan Anderson, and his Indian and US associates. The petition accused Hindenburg of exploiting innocent investors and orchestrating the "artificial crashing" of Adani group's stock value.
The Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate.
The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
Also Watch: <a href="https://www.editorji.com/india-news/politics/adani-row-congress-chief-kharge-s-louis-vuitton-scarf-in-parliament-invites-bjp-attack-1675913659980">Adani row: Louis Vuitton scarf worn by Congress chief Kharge in Parliament invites BJP attack</a>

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

LIC issues statement amid concerns over exposure to Adani group

LIC gives statement amid concerns over exposure to Adani grp cos

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

Amid concerns in certain quarters over LIC's exposure to Adani group companies, the insurer has said that it strictly follows the statutory framework and regulations while making investments.
Last week, state-owned Life Insurance Corporation (LIC) said it has investments of Rs 35,917.31 crore in Adani group's debt and equity securities. The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore.
The total value of equity, purchased over the last many years, of all the Adani group companies, is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023, was Rs 56,142 crore, as per LIC.
Stocks of the Adani group companies have taken a beating, losing billions of dollars in market value, after US-based short-seller Hindenburg Research in a report dated January 24 made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. Adani group completely denied the allegations calling them 'malicious' and 'basless'.&nbsp;

Gandhi said he was asked during Bharat Jodo Yatra how Adani's net worth went from $8 billion in 2014 to $140 billion in 2022.

Adani row: Rahul Gandhi shows old pic of Modi, Gautam Adani in Lok Sabha, asks 'what's the relationship?'

Adani row: Rahul Gandhi shows photo of PM Modi, Gautam Adani in Lok Sabha

Gandhi said he was asked during Bharat Jodo Yatra how Adani's net worth went from $8 billion in 2014 to $140 billion in 2022.

Congress leader Rahul Gandhi targeted the Narendra Modi government over the Adani controversy, during his statement on the Motion of Thanks on the President's Address in Lok Sabha on 7 February 2023.
Speaking about his recently-concluded Bharat Jodo Yatra, Gandhi said, "From Tamil Nadu to Kerala, Maharashtra, MP, everywhere. One name - we heard it everywhere. Adani, Adani, Adani, Adani, Adani."
"People used to ask me how Adani enters any business and achieves success, never fails. The youth told me they also want to learn this. PM Modi talks about startups. We also want to be like Adani," the Congress MP from Wayanad added.
Gandhi said that the youth asked him how Adani's net worth went from $8 billion in 2014 to $140 billion in 2022. Then, he brandished an old photograph of Gautam Adani and Narendra Modi, exclaiming, "This is the relationship. It's in public."
Subsequently, Lok Sabha Speaker Om Birla told Gandhi not to brandish posters in the House.

Dhankar said that in the last few days, the House had 17-and-a-half hours to transact business, but worked only for 35 minutes, i.e. 3.3% of the time.

Watch: over Adani row, Opposition MPs enter Rajya Sabha well to protest; House adjourned for 1 hour

Rajya Sabha adjourned for 1 hour over protest on Adani row RS Chairman rejected Opposition's notices for debate Opposition MPs entered well of House to object

Dhankar said that in the last few days, the House had 17-and-a-half hours to transact business, but worked only for 35 minutes, i.e. 3.3% of the time.

Dramatic scenes were witnessed in the Rajya Sabha on 7 February 2023 as Opposition MPs entered the well of the House to protest over the Adani controversy.
Chairman Jagdeep Dhankar once again rejected notices submitted by Opposition members for a debate on the Adani issue.
Dhankar said that in the last few days, the House had 17-and-a-half hours to transact business, but worked only for 35 minutes, i.e. 3.3% of the time.
With the protests intensifying, he adjourned the House for an hour.
&nbsp;

Speaker Om Birla asked the Opposition to allow Question Hour to proceed as planned, appealing to them to "start the right tradition".

Adani row: Day 4 of protest - disruption in Lok Sabha leads to 1-hour adjournment

Lok Sabha disrupted over Adani row again Opposition protest began as soon as House convened Speaker's 'initiate correct tradition' appeal ignored

Speaker Om Birla asked the Opposition to allow Question Hour to proceed as planned, appealing to them to "start the right tradition".

Another fiery face-off occurred between Opposition MPs and the Speaker of the Lok Sabha as protests over the Adani controversy continued for the fourth day in Parliament.
With protests for a debate and a Joint Parliamentary Committee probe starting as soon as the House convened, Speaker Om Birla asked the Opposition to allow Question Hour to proceed as planned. Birla asked MPs to "start the right tradition".
With Opposition members unrelenting, the Speaker accused them of not wanting the Parliament to function, and adjourned the House for an hour.
Also Watch:<a href="https://www.editorji.com/india-news/politics/sc-to-hear-plea-challenging-appointment-of-lawyer-victoria-gowri-as-madras-hc-judge-1675734365455"> SC to hear plea challenging appointment of lawyer Victoria Gowri as Madras HC judge</a>

Parliamentary Affairs Minister Pralhad Joshi told the Opposition that they can raise any issues they want during the discussion on the Motion of Thanks on the President's Address.

Adani row: Parliament adjourned for the day without any work as Opposition continues protest

Parliamentary Affairs Minister Pralhad Joshi told the Opposition that they can raise any issues they want during the discussion on the Motion of Thanks on the President's Address.

The Budget Session seems to be headed for a washout with the Opposition refusing to relent on its demand for a debate on the Adani-Hindenburg conspiracy, and the government standing its ground.
6 February once again saw adjournment of both the Lok Sabha and Rajya Sabha for the day without transaction of listed business. Both Houses of Parliament were first adjourned till 2 pm soon after convening. After the session began again, the Opposition raised their demand for a debate and a JPC probe.
Parliamentary Affairs Minister Pralhad Joshi told the Opposition that they can raise any issues they want during the discussion on the Motion of Thanks on the President's Address. But with the protests continuing, the Speaker and Chairman adjourned the Houses for the day.

As Opposition members objected to the rejection, Dhankar appealed "in the name of democracy and Constitution" to let the House run.

Adani row: laughter before loud shouting in Rajya Sabha as chairman rejects Opposition notices again

As Opposition members objected to the rejection, Dhankar appealed "in the name of democracy and Constitution" to let the House run.

Wry laughter gave way to loud shouting in the Rajya Sabha as Chairman Jagdeep Dhankar once again rejected adjournment notices submitted by Opposition MPs to discuss the Adani controversy on 6 February 2023.
As Opposition members objected to the rejection, Dhankar appealed "in the name of democracy and Constitution" to let the House run. The chairman added that the Rajya Sabha is the House of Elders, and is being looked at by the entire nation.
When the Opposition continued to press for its demand for a debate on the Adani issue, the House was adjourned for 3 hours.
Also Watch: <a href="https://www.editorji.com/india-news/adani-row-snowballs-joint-opposition-protest-demanding-probe-to-save-lic-sbi-at-parliament-s-gandhi-statue-1675660409957">Adani row snowballs joint Opposition protest demanding probe to 'save LIC, SBI' outside Parliament</a>

Amid Speaker Om Birla's appeals for calm, MPs shouted slogans calling the government 'Adani sarkar'.

Adani row: Day 3 of protest in Lok Sabha; 'sarkar shame shame' slogans lead to adjournment

Adani row: third day of protest in Lok Sabha Slogans against Modi govt, demand for JPC probe Speaker's appeals for calm ignored; 3-hr adjournment

Amid Speaker Om Birla's appeals for calm, MPs shouted slogans calling the government 'Adani sarkar'.

For the third consecutive working day, the Lok Sabha was adjourned just minutes after convening.
The Opposition stepped up its protest in the Parliament on 6 February 2023. As soon as the House convened, Opposition MPs began raising slogans demanding a probe into the Adani controversy.
Amid Speaker Om Birla's appeals for calm, MPs shouted slogans calling the government 'Adani sarkar', and demanding the constitution of a Joint Parliamentary Committee, or JPC. Subsequently, the House was adjourned for 3 hours.
The Opposition has been formulating a joint strategy to exert pressure on the Narendra Modi administration on the Adani-Hindenburg saga.
Also Watch: <a href="https://www.editorji.com/india-news/politics/adani-row-laughter-before-loud-shouting-in-rajya-sabha-as-chairman-rejects-opposition-notices-again-1675665264987">Adani row: laughter before loud shouting in Rajya Sabha as chairman rejects Opposition notices again</a>

The Parliamentarians held placards demanding either a Joint Parliamentary Committee probe, or an inquiry monitored by the Supreme Court.

Adani row snowballs: joint Opposition protest demanding probe to 'save LIC, SBI' outside Parliament

Adani row snowballs: joint Opposition protest demanding probe to 'save LIC, SBI' at Parliament's Gandhi statue

The Parliamentarians held placards demanding either a Joint Parliamentary Committee probe, or an inquiry monitored by the Supreme Court.

Signalling that they have no intention to let the Adani controversy die down, Opposition MPs staged a protest at the Gandhi statue in Parliament before the Lok Sabha and Rajya Sabha reconvened after a weekend break.
The Parliamentarians held placards demanding either a Joint Parliamentary Committee probe, or an inquiry monitored by the Supreme Court. MPs also brandished 'Save LIC' and 'Save SBI' posters.
Congress president Mallikarjun Kharge said that the Narendra Modi government does not want the Adani issue to be raised in Parliament. He added that the issue should be debated before a discussion on the Motion of Thanks on the President's Address.
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Floor leaders of all Opposition parties in both Lok Sabha and Rajya Sabha have been invited to the meeting.

Adani row: Opposition's plan after weekend break - joint strategy meet, protest in Parliament

Floor leaders of all Opposition parties in both Lok Sabha and Rajya Sabha have been invited to the meeting.

The Budget Session of the Parliament might continue to witness stormy scenes when the Houses reconvene on 6 February 2023 after a weekend break.
An Opposition meeting has been called at 9:30 am to discuss a joint strategy before the proceedings resume, according to news agency ANI. Floor leaders of all Opposition parties in both Lok Sabha and Rajya Sabha have been invited to the meeting.
Opposition MPs will also hold a protest in front of the MK Gandhi statue after the meeting, as per the report.
This follows 2 days of disruption and wash-out of the Parliament session over the Adani-Hindenburg controversy. Opposition parties have demanded either a Joint Parliamentary Committee probe, or an inquiry monitored by the Chief Justice of India, into the issue.
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They have accused the Narendra Modi government of pressurising institutions like LIC and SBI to invest in Adani, putting the savings of crores of Indians at risk following the company's stock rout.

Union finance minister Nirmala Sitharaman commented on the Adani group cancelling its ₹20,000 crore follow-on public offer (FPO).

Adani row: FM Nirmala Sitharaman's '8 billion' answer on possible impact on India's position in markets

Union finance minister Nirmala Sitharaman commented on the Adani group cancelling its ₹20,000 crore follow-on public offer (FPO).

Days after the Adani group decided to cancel its ₹20,000 crore follow-on public offer (FPO) due to its stocks taking a massive hit, Union finance minister Nirmala Sitharaman commented on whether it affected India's position in the global markets.
The minister said, "Foreign exchange reserves in the last 2 days have gone up by 8 billion. Our macroeconomic fundamentals or our economy's image - none of it has been affected."
"Yes, FPOs come in and FIIs get out. These fluctuations are there in every market," she added.
The minister concluded by saying, "The fact that we've had 8 billion come in in the last few days proves that the perception about India and its inherent strengths is intact."
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